Latest News
GAMING CORPS CARRIES OUT A DIRECTED SHARE ISSUE OF SEK 10 MILLION TO SVEA BANK
The Board of Directors of Gaming Corps AB has resolved to carry out a new issue of 4,000,000 shares at a subscription price of SEK 2.50 per share, corresponding to issue proceeds of SEK 10 million, to Svea Bank AB (the “Directed Issue”). The Directed Issue is carried out with a deviation from the shareholders’ preferential right and with the support of the authorization from the annual general meeting on 28 June 2022. The subscription price has been determined by the Board of Directors of the Company and corresponds to a [premium] of approximately 7,8 percent calculated on a volume-weighted average share price (VWAP) during the last 20 trading days, up to and including 12 December 2022.
” I would like to take this opportunity to thank SVEA BANK AB on behalf of the management for this investment, especially when the market situation looks as it does with uncertainties in several areas, not least in the listed environment. We have several ongoing game certifications and game titles in development, in addition to several new approvals in regulated markets where we engage local legal advisors for the processes. Here we are anxiously awaiting the opinion from each market for me to be able to notify you, our shareholders”, says Juha Kauppinen, CEO.
” The Board of Directors has been working for some time to find the most favorable financing solution for the shareholders and the Company. With the current market situation, we have seen that the conditions for raising capital have been very costly and directly harmful to the company and the shareholders. By adding capital through SVEA BANK’s investment, we strengthen our cash position and give the company greater financial flexibility, which gives us a good basis for future investments in the business”, comments Claes Tellman, Chairman of the Board of Gaming Corps.
THE DIRECTED ISSUE
The Board of Directors of Gaming Corps has today, on 13 December 2022, resolved on a new issue of 4,000,000 shares with deviation from the existing shareholders’ preferential rights and with support from the authorization given at the annual general meeting on 28 2022. The subscription price for the shares in the Directed Issue has been determined by the Board of Directors at SEK 2.50 per share and will be paid in cash. The subscription price corresponds to a [premium] of approximately 7,8 percent calculated on the basis of a volume-weighted average price (WVAP) per trading day for the Company’s share on Nasdaq First North Growth Market during the last 20 trading days up to and including 12 December 2022. The Directed Issue has been subscribed by Svea Bank AB and will provide the Company with issue proceeds of SEK 10 million.
CHANGES IN SHARE CAPITAL, SHARES AND VOTES AND DILUTION
The Directed Issue results in an increase of the Company’s share capital by a maximum of SEK 200,000.01, from SEK 2,707,625.06 to SEK 2,907,625.07. The number of shares and votes will increase by a total of 4,000,000, from 54,152,501 to 58,152,501. The execution of the Directed Issue results in a dilution of approximately 6.88 percent for existing shareholders in relation to the total number of outstanding shares and votes in the Company.
DEVIATION FROM SHAREHOLDER PREFERENTIAL RIGHTS
The rationale of the Directed Issue and the reason for the deviation from the shareholders’ preferential rights is to carry out a capital raise in a time- and cost-effective manner. The Board of Directors has evaluated the possibility of carrying out a preferential rights issue in first hand. The Company has weighed the advantages and disadvantages of a preferential rights issue in comparison to a directed share issue and concluded that a preferential rights issue (i) would be significantly more time-consuming, which could risk the Company missing out on potential growth opportunities, (ii) would lead to significantly higher costs for the Company, mainly attributable to procurement of a guarantee consortium and legal costs, (iii) would expose the Company to higher market volatility, especially given current market conditions, and (iv) would likely have had to be implemented at a lower subscription price (with a discount instead of a [premium]) and would result in a higher dilution effect, which would have been negative to all shareholders. In addition, the Board of Directors considers it positive that the institutional ownership in the Company is strengthened through the Directed Issue. The Board of Director’s overall assessment is thus that the reasons for carrying out the Directed Issue in this manner, and in this specific situation, outweigh the reasons that justify the main rule of issuing shares with preferential rights for existing shareholders, and that a new share issue with a deviation from the shareholders’ preferential rights is thus in the best interest of the Company and all shareholders.
ADVISOR
Baker McKenzie is the Company’s legal advisor in the Directed Issue.
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Booming Games
Booming Games Drops Lucky Charms Trio
- Featuring a 5×3 layout, the game provides a highest win possibility of 5,000x.
- Mystery Symbols may show up completely or partially at any moment, producing enchanting rewards when aligned throughout the reels.
- Gamers can dive right into the excitement with the Trio Bonus feature, offering immediate exhilaration.
Booming Games, a top supplier of high-quality gaming content, has officially released Lucky Charms Trio. The game features a 5×3 layout with a highest possible win of 5,000x. Set against a stunning, vibrant backdrop of beautiful green hills and shimmering rainbows, Lucky Charms Trio boasts a variety of thrilling features aimed at enhancing the enjoyment for players.
The grid is adorned with classic symbols of good fortune, including four-leaf clovers, shiny horseshoes, and joyful leprechauns, creating an ideal setting for St Patrick’s Day celebrations later this month. To create a feeling of thrill, Mystery Symbols may show up either partially or completely at any moment, allowing players to align symbols across the reels to produce enchanting rewards.
Activating the Lucky Pots Feature reveals as many as seven unique bonus variations; Boost, Multiply, and Collect, in various combinations. Every pot can provide its own bonus independently or combine with others, and the maximum payout occurs when all three features trigger simultaneously for the largest rewards. To maintain the momentum, players have the option to utilize the thrilling Boost+ feature, or dive directly into the excitement with Buy Bonus and Trio Bonus for immediate enjoyment.
Craig Asling, Director of Games at Booming Games, said: “Step into the realms of sparkling fortune with Lucky Charms Trio, our vibrant new slot game where shimmering reels and playful surprises build excitement with every spin. With St Patrick’s Day just around the corner, our latest release demonstrates our ability to develop games that connect with both local and global audiences. Fast-paced, dynamic gameplay and large win potential combine to create an ultimate gameplay experience packed with adventure. Play Lucky Charms Trio now!”
The post Booming Games Drops Lucky Charms Trio appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Casimba
ENJOY and Casimba Gaming form partnership to extend global market presence
Collaboration brings ENJOY’s complete growing range to Casimba’s platform.
ENJOY, the vibrant iGaming content producer, has finalized a new distribution contract with Casimba Gaming, enhancing its international presence in important regulated markets.
This partnership will result in ENJOY’s complete range of high-end slot games being incorporated into the Casimba platform, featuring the recently launched favorites Diamond Slam and Hotfire Diamonds 2. The contract also includes ENJOY’s creative live hybrid game shows, like Aztec Roulette and Egypt Roulette, broadcast continuously from a specially designed studio.
Having solid bases in the US social and sweepstakes market, along with the regulated sectors in the UK and Canada, Casimba Gaming offers ENJOY improved distribution prospects in some of the industry’s leading areas.
The collaboration enhances ENJOY’s strategy to broaden its reach in regulated and emerging markets while providing high-quality, feature-rich content to a wider network.
Christos Zoulianitis, Chief Commercial Officer at ENJOY, said: “Partnering with Casimba Gaming represents an important step in our distribution strategy as we continue to scale internationally.
“Our portfolio continues to expand, with new slot releases and our hybrid live game shows delivering consistent engagement. This agreement allows us to broaden the availability of our content and introduce it to new audiences on a global scale.”
Lavina Karlsson, Chief Commercial Officer – B2B at Casimba, added: “ENJOY’s established slot portfolio, combined with its unique hybrid live game show releases, brings a balanced and differentiated appeal that strengthens our content offering.
“Our focus is on delivering diverse, high-quality content across our network, and ENJOY’s products are a strong addition to that mix. This partnership supports our commitment to expanding the range of content available through our platform and driving continued growth for all parties involved.”
The post ENJOY and Casimba Gaming form partnership to extend global market presence appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Latest News
Relax Gaming Expands Blockbuster Series With Debut of Treasure Tumble
Relax Gaming, the premier iGaming aggregator and provider of original content, has unveiled the newest entry in its successful Tumble series, Treasure Tumble.
The high-volatility underwater experience capitalizes on the already prevalent popularity of the series, while incorporating the revolutionary Supercharge feature aimed at enhancing player retention.
The Tumble series has consistently been a key factor in reliable performance and significant player lifetime value. Treasure Tumble enhances this dependable base, taking cues from its Dream Drop counterpart while emphasizing customizable gameplay.
The title Boost innovation enables operators to serve a variety of player types. By providing a complete range of Upgrade Spins, players can quickly dive into the core of the excitement.
Players can choose between Enhanced Spins for more frequent bonuses or Galleon Spins for high-multiplier volatility, allowing them to tailor their experience, which boosts session duration and return visits.
The mathematical model of the game stays strong, featuring an 8×8 cluster-pays layout and a highest payout of 10,000x. Featuring constant multipliers in the Super Galleon Bonus and a player-friendly mechanic that creates real momentum, the game is set to serve as a key revenue source for the 2026 season.
Tony O’Mahony, Chief Product Officer at Relax Gaming, said: “Our Tumble games have been a huge success for our partners, and with Treasure Tumble, we’re giving players even more control.
“We’ve supercharged this title with attractive options so that players can really play their way. It’s about giving them what they want, when they want it. That’s the best way to give players exactly what they enjoy.”
The post Relax Gaming Expands Blockbuster Series With Debut of Treasure Tumble appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
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