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Kings Entertainment Receives CSE Conditional Approval to Proceed with Acquisition of Parent of Bet99 Sportsbook and Casino Operator, Calls Shareholder Meeting to Approve the Acquisition and Refiles its Q2 2022 Interim Financial Statements

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Kings Entertainment Group Inc. (“Kings Entertainment” or the “Company”) (CSE:JKPT, OTC: JKPTF) announces that it has received conditional approval of the Canadian Securities Exchange (the “CSE”) in connection with its previously announced proposed business combination (the “Business Combination”) with Sports Venture Holdings Inc. (“SVH”), the parent company of the market-leading Bet99 brand. Kings Entertainment also announces that it has called a meeting of its shareholders to be held on October 25, 2022 (the “Meeting”) for the purposes of seeking, among other things, shareholder approval of the Business Combination in accordance with the polices of the CSE.

“We remain excited to proceed with the previously announced business combination with Bet99 to create Interactive Entertainment Group. Our goal has always been to grow our business organically and through the acquisition of complementary businesses. We believe the acquisition of SVH is fully aligned with our business objectives and serves to further bolster our position as a market leader and innovator.” said Steve Budin, CEO of Kings Entertainment. “Receipt of the CSE conditional approval is an important step forward in the completion of the business combination. We now look forward to holding our shareholder meeting on October 25, 2022 so that we hear from our shareholders and share our excitement about our future with Bet99. We hope to close this transformational transaction shortly following our shareholder meeting.” In connection with the Meeting, Kings Entertainment has prepared, filed and mailed to shareholders, a management information circular dated September 24, 2022, (the “Circular”). The record date set for notice of, and voting at, the Meeting has been set as September 16, 2022. The Circular, which attaches to it a draft of listing statement (the “Listing Statement”) prepared in accordance with the policies of the CSE, includes further details concerning the Business Combination, SVH and the issuer resulting from the Business Combination (the “Resulting Issuer”). Shareholders are encouraged to review the Circular in its entirety. The board of directors of the Company have unanimously approved the Business Combination and recommend shareholders vote at the Meeting FOR the Business Combination.

It is anticipated the Company will change its name such that the Resulting Issuer will operate under the name “Interactive Entertainment Group Inc.”. In addition, it is expected that SVH will complete a brokered financing in advance of closing the Business Combination to support the financial position of the combined company for the ensuing year. The Company will announce details concerning any such financing in due course.

The Interim Consolidated Financial Statements of the Company for the Three and Six months ended June 30, 2022 and 2021 (the “Interim Statements”) and corresponding management’s discussion and analysis (the “MD&A”) are required to be attached to the Listing Statement. The Interim Statements and MD&A, as filed by the Company on August 26, 2022, were not required to be, and were not, reviewed by the Company’s auditors however the Interim Statements are required to be reviewed when attached to the final Listing Statement. As a result of management’s and the auditor’s review of the Interim Statements during the course of preparing the Listing Statement, certain errors were discovered and therefore the Interim Statements and the MD&A, as attached to the draft Listing Statement, have been amended and such amended Interim Statements and amended MD&A have been filed under the Company’s profile on www. sedar .com.

The amendments pertain to adjustments to rectify errors related to: (i) certain noncash items being incorrectly included in net cash flows used in operating activities with an offsetting misstatement in effect of foreign exchange in cash, (ii) the calculation of deferred income tax expense with an offsetting misstatement in foreign currency translation differences and (iii) the foreign exchange translation reserve with offsetting misstatement in deficit. These corrections did not have an impact on the net change in cash; however, resulted in understatement of shareholders’ equity.  The Company does not believe these amendments are material.

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Wealthsimple and Kalshi Partner to Bring Prediction Markets to Canada

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Wealthsimple announced the release of Wealthsimple Predict, providing retail investors the ability to trade event contracts on Kalshi. The standalone application is scheduled to launch this summer. Through the app, users will have access to approximately 4000 Kalshi event-based contracts in categories Wealthsimple is authorized to offer in the Canadian market, specifically climate, financial markets, and economic indicators.

“Prediction markets are the fastest-growing segment of global financial markets, letting traders turn an opinion into a position on the factors that shape our world – where inflation is headed, what happens to rates, or how the year unfolds. Until now, Canadians have had limited access. Wealthsimple Predict gives Canadians a clean, well-designed way to access these markets, with education and guardrails built in from day one,” said Brett Huneycutt, co-founder and Chief Product Officer, Wealthsimple.

“Kalshi was founded on a simple belief: views on the future should have markets, and those markets should be available to everyone. That’s why we’re partnering with Wealthsimple, Canada’s leading financial innovator – to give everyday investors in Canada access to fair, secure, and regulated prediction markets,” said Alex Cuoci, Kalshi.

In March, the Canadian Investment Regulatory Organization (CIRO) authorized Wealthsimple to offer event and forecast contract trading, also known as prediction markets. These contracts are regulated as futures contracts (derivatives). The approval covers contracts with a 30-day settlement period or longer, within the categories of economic indicators, financial markets, and climate. Wealthsimple is the second investment dealer to receive regulatory approval from CIRO for prediction markets.

To access trading through Wealthsimple Predict, new clients must complete a standard Know Your Client (KYC) process. Education is built into every stage of the experience, including a guided orientation of a client’s first trade. The app also shows users key disclosures and definitions, including trading risk reminders, contract resolution information, notices that positions can be sold at any time, and liquidity risk warnings on lower-activity markets. Wealthsimple Predict will only be available to Canadian residents.

Kalshi is authorized to operate in the US as an event contracts exchange, with federal authority from the Commodity Futures Trading Commission (CFTC), the regulatory authority for the U.S. derivatives market. Prediction markets follow the same regulatory framework applied to other financial assets traded in the US, such as equities, bonds, and traditional derivatives, with clear rules for price formation, settlement, and governance.

The post Wealthsimple and Kalshi Partner to Bring Prediction Markets to Canada appeared first on Americas iGaming & Sports Betting News.

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MediaTroopers lines up eight operator partners ahead of Alberta launch

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MediaTroopers said it is preparing to launch in Alberta’s regulated gaming market on July 13, as Canada’s next regulated commercial gaming market opens.

The digital marketing and customer acquisition firm said it plans to enter Alberta alongside eight “premium operator” clients, which it said are also preparing for their own market entries. MediaTroopers did not name the operators.

The company said its Alberta offering will mirror its work in Ontario, including localized acquisition strategies, compliance-focused marketing, regional player education, and market-tailored performance campaigns.

MediaTroopers also said it has seen “strong interest” from Alberta players through pre-registration activity, without providing figures.

“Alberta represents an exciting next step for regulated iGaming in Canada, and Media Troopers is ready to support operators from day one,” said Shmulik Segal, CEO of Media Troopers. “Our experience in Ontario has given us a strong understanding of what it takes to enter a new Canadian market successfully, from compliance and localization to scalable player acquisition. With eight of our premium clients already preparing for launch and early pre-registration traction underway, we see Alberta as a market with tremendous potential.”

The post MediaTroopers lines up eight operator partners ahead of Alberta launch appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

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MediaTroopers Makes Preparations for Upcoming Alberta Launch with Eight Premium Operator Partners

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MediaTroopers, the leading digital marketing and customer acquisition firm, has announced that preparations are underway for its upcoming launch in Alberta’s regulated gaming market, scheduled to go live on July 13. As part of those preparations, MediaTroopers will enter the province with eight of its premium operator clients, who are already preparing for their own entries.

With the launch of Canada’s second regulated commercial gaming market, Alberta has quickly become one of the most anticipated market opportunities for operators looking to expand. MediaTroopers has already cemented itself as a reliable partner in Ontario’s regulated market, supporting operators in one of North America’s most competitive markets, and it will bring that same expertise as it enters Alberta.

Much like Ontario, MediaTroopers will continue to support operators in Alberta with localized acquisition strategies, compliance-focused marketing, regional player education, and market-tailored performance-driven campaigns.

MediaTroopers has already seen strong interest from Alberta players through pre-registration activity. With eight of its premium clients also preparing to go live, the company expects to play a pivotal role in helping other licensed operators to build up brand visibility and recognition among players in the region from day one.

With its launch in Alberta, MediaTroopers remains committed to supporting sustainable, responsible, and compliant growth across Canada’s regulated market.

 

“Alberta represents an exciting next step for regulated iGaming in Canada, and Media Troopers is ready to support operators from day one,” said Shmulik Segal, CEO of Media Troopers. “Our experience in Ontario has given us a strong understanding of what it takes to enter a new Canadian market successfully, from compliance and localization to scalable player acquisition. With eight of our premium clients already preparing for launch and early pre-registration traction underway, we see Alberta as a market with tremendous potential.”

The post MediaTroopers Makes Preparations for Upcoming Alberta Launch with Eight Premium Operator Partners appeared first on Americas iGaming & Sports Betting News.

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