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Smarkets raises Series B funding round to supercharge international and domestic growth

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Smarkets, one of the world’s largest betting exchange and prediction market platforms, has announced the closing of a significant minority investment from Susquehanna Growth Equity (SGE).

Having raised just £3.8m ($5.4m) since its inception in 2008, with its Series A round coming back in 2013, Smarkets has built a leading exchange platform that processes billions of pounds in traded volume each year. The company has offices in London, Los Angeles, and Malta, licensed customer-focused operations in five countries, and in 2019 released innovative sportsbook app SBK.

Smarkets is delighted to welcome SGE, which joins existing investors Passion Capital and Deutsche Telekom in supporting the company’s mission to fix betting with the fairest odds in the industry.

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This new investment will allow Smarkets to accelerate its rollout in the US, where it is already live in Colorado with sportsbook app SBK and set to go live in Indiana soon. The funding will also bolster SBK’s position in the UK mainstream betting market after its successful launch in August 2019.

The new investment will contribute to:

Furthering the company’s US presence, including market-access deals in new, regulated states
Capturing an even greater share of the UK betting exchange market and accelerating SBK’s growth in the UK’s mainstream sportsbook market
Expanding Smarkets’ development of new products for customers and focus on industry-leading prices on sports, politics, and current affairs
Continuing to capture the best and brightest worldwide engineering talent with a view to doubling headcount by the end of 2022
Further expansion into new and recently entered markets such as Denmark and Sweden

Jason Trost, founder and CEO of Smarkets, said:

“This is an incredibly exciting day. I’ve always been amazed what the passion and energy of a comparatively small group of committed people can accomplish against much bigger rivals; Smarkets and SBK are the product of exactly that. At Smarkets we have always been guided by our vision of fixing betting with the best prices and products, and SGE is just as excited as us to challenge the status quo. This is a huge endorsement of our technology and will allow us to further upend the industry by offering bets as close to fair value as possible.

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“We are super proud of what we have achieved so far in the UK betting space, and this new investment will help take us to the next level and beyond in the UK, US, and other international markets. I’d like to thank the women and men that work and have worked at Smarkets for getting us to where we are.

“I truly believe the best is yet to come. This investment will allow us to fight with greater resources, move faster, and be bolder in our mission. We’re so excited about the opportunities this investment unlocks.”

Scott Feldman, Managing Director with Susquehanna Growth Equity, said:

“We are delighted to be able to join Smarkets on their upward journey. We immediately identified with their vision of using technology to take on the betting industry’s big operators by providing the fairest odds in the world and maintaining a clear focus on product excellence.

“Smarkets have achieved a huge amount with little investment to date and we can’t wait to see them go from strength to strength as they expand further into both the US and UK mainstream market.”

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Trueplay Welcomes Marko Erakovic as Chief Commercial Officer

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Marko Erakovic joins Trueplay as the Chief Commercial Officer. In this role, he will drive the company’s expansion into LATAM and Asia and enhance the commercial strategy for its loyalty booster solutions, including CopyStake.

“Marko’s solid business development background, deep understanding of the iGaming industry, and vast network make him an invaluable addition to our leadership team. His insight into market trends and operator needs will help us refine our offering and forge mutually beneficial partnerships, further solidifying our foothold,” said Yuliia Trotsiuk, Trueplay’s Chief Operating Officer.

In addition to broadening company reach, Marko will use his experience in sales and monetization strategy and digital engagement tools to better position CopyStake within the industry, highlighting its unique value proposition.

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“I’m excited to join Trueplay, which is pursuing an ambitious growth strategy. The team has clearly outlined goals and objectives, so it’s time to roll up my sleeves and make it happen,” shared Marko Erakovic.

The post Trueplay Welcomes Marko Erakovic as Chief Commercial Officer appeared first on European Gaming Industry News.

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Swintt appoints Anthony Dalla-Giacoma as new Chief Commercial Officer

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Award-winning content provider Swintt strengthens its leadership team with the appointment of former Quickspin and NetEnt veteran as Chief Commercial Officer.

Swintt, the in-demand content provider, has strengthened its management team with the appointment of Anthony Dalla-Giacoma as Chief Commercial Officer.

Anthony brings over 15 years of experience in commercial roles, with his most recent position being Chief Commercial Officer at Quickspin, where he played a pivotal role in driving the company’s growth and success. Prior to that, he was an Account Manager and Regional Business Manager at NetEnt, further solidifying his extensive expertise in the industry.

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With his deep understanding of the market and proven track record, Anthony is a highly experienced addition to Swintt’s leadership team. His wealth of knowledge will be invaluable in supporting Swintt’s continued growth, especially as the company enters this exciting stage of expansion.

As Chief Commercial Officer at Swintt, Anthony will oversee the Sales, Account Management, and Marketing teams to ensure the company continues to scale at pace. His role will include devising and deploying effective commercial strategies, strengthening partnerships with key operators, identifying new business opportunities, and optimising revenue growth.

Anthony joins Swintt at an incredibly exciting time for the business, with the studio having recently entered the Greek market and preparing for further expansion into Italy and Switzerland. This period of growth is complemented by a strong pipeline of upcoming game releases, including the highly anticipated Pirate Pledge Hold & Win, which is set to be the next exciting addition to Swintt’s ever-expanding portfolio of engaging online casino content.

David Mann, Chief Executive Officer at Swintt, said: “Anthony is a fantastic addition to our management team and was top of mind when we set out to fill this role. He is one of the most experienced commercial specialists in the industry, with a proven track record of driving success at some of the biggest content providers.

Swintt is growing at an incredible speed, and with Anthony on board, the final piece of the puzzle is ensuring our commercial team continues to scale. With his expertise, I’m confident we can take even bigger strides.”

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Anthony Dalla-Giacoma, Chief Commercial Officer at Swintt, added: “Swintt is one of the most exciting game developers in the industry, and I’ve been following its success with great admiration for some time.

Joining the team as Chief Commercial Officer is a truly exciting opportunity, and I look forward to using my experience to help drive the business to new heights. Swintt has assembled an incredible team and it’s an honour to now be a part of it.”

The post Swintt appoints Anthony Dalla-Giacoma as new Chief Commercial Officer appeared first on European Gaming Industry News.

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PG Soft launches Mr Treasure’s Fortune

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PG Soft, a world-class digital mobile games company, has launched its swashbuckling new 3-reel, 3-row video slot, Mr Treasure’s Fortune.

PG Soft’s perilous high-seas expedition blends the nostalgia of classic arcade machines with modern gameplay as players search for the legendary Black Fang Pirates’ hidden fortune.

The game features an array of golden symbols with multipliers up to x100. If one or more symbols with multipliers land a win, the win for the round will be multiplied by the total multiplier from the winning symbols.

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The Free Spins Feature will trigger with 10 Free Spins and can happen randomly while the reels are spinning. Multipliers scooped up during any free spin will be added together and these will remain positioned at the top of the reels until the feature ends.

PG Soft’s spokesperson commented: “Mr Treasure’s Fortune perfectly captures the essence of the old school arcade gaming machines, while presenting players with the chance of big wins. Multiple multipliers, free spins, and glittering graphics all make for a highly engaging game.”

The post PG Soft launches Mr Treasure’s Fortune appeared first on European Gaming Industry News.

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