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GAMING CORPS CARRIES OUT A DIRECTED SHARE ISSUE OF SEK 10 MILLION TO SVEA BANK

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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.

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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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Making an Impact: Slammer Studios Debuts “Magawa vs Mines”

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Introducing Magawa vs Mines, the debut game from Slammer Studios – a fresh new player in the industry. With the launch of this vibrant 7×7 slot, the studio is kicking things off in style.

Inspired by the legendary Magawa, a rat whose life-saving landmine detection skills have earned worldwide acclaim, this game pays tribute to this incredible hero. With Magawa vs Mines, players get to honour the courage of an extraordinary rat, reliving his daring missions through high-energy gameplay.

You’ll join forces with Magawa on his latest life-saving mission, spinning the reels to reveal the remarkable rat at work. But it’s the flurry of features where things get truly explosive.

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For example, there’s the Rat Run – launched by landing a Rat Wild and Mystery Mine on the reels. When this is triggered, Rat Wilds run to the nearest Mystery Mines and set off the Mystery Reveal feature. Base Game Mines are also triggered via the Rat Run, revealing mystery symbols on the grid. You can buy a bonus too, helping you scuttle towards success even quicker.

Don’t forget to try and set off the Chain Reaction, which is randomly triggered after Mystery Reveals or winning combinations. This in turn triggers extra Mystery Mines, creating more space for more winning symbols and leading to — yep, you guessed it — a chain reaction of big wins!

There’s Free Games too, triggered by revealing three Scatters or more on the reels. When these games are on the go, Mystery Mines turn golden with multipliers attached… the perfect way to help you win up to 20,000x your bet.

Get ready to join the adventure when Magawa vs Mines launches on November 28, 2024. This exciting debut from Slammer Studios is set to bring impactful gaming to players everywhere. Don’t miss your chance to dive into the action and experience the bravery of Magawa first-hand!

The post Making an Impact: Slammer Studios Debuts “Magawa vs Mines” appeared first on European Gaming Industry News.

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TaDa Gaming Successfully Enters Italian Market with Pixelo Partnership

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TaDa Gaming, has entered the Italian iGaming market with renowned platform provider, Pixelo, as part of its European growth strategy.

Known for its diverse and exciting portfolio of slots, table games, crash, bingo and Plinko, alongside the recent launch of its gamification tools, GiftCode and WIN CARD, TaDa Gaming has enjoyed a positive reception across numerous regulated markets throughout 2024.

The new partnership with Pixelo marks its first entry to Italy and is already creating a sensation with players. Magical theme release Ali Baba and the Plinko games have landed well but it is TaDa’s unique Fishing-Shooting games that have particularly resonated.

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Perceiving this new style of arcade release as a literal game changer in the industry, Pixelo and TaDa Gaming have been working together to introduce these exciting and immersive releases to the Italian iGaming market and Ocean King Jackpot especially is already creating significant traction with players.

Renowned in Asia as the No. 1 provider for Fishing-Shooting games, TaDa Gaming has seen uplifts in rounds played and increased deposits with clients who choose to integrate its Fishing-Shooting games, which also include Fortune King Jackpot, Mega Fishing and Jackpot Fishing. This immediate impact with Pixelo in Italy is especially gratifying due to the short timeframe in which the two companies have been collaborating.

Pixelo is an established iGaming platform that has led the Italian market for many years. Their services are known for their flexibility, scalability, high-security standards and smooth integration. Offering multi-device support, real-time systems and a high-performance infrastructure, Pixelo delivers unparalleled efficiency and support to its clients.

A wide exposure across multiple verticals including casino, sportsbook, bingo and lottery enabled the highly regulated and licenced operator to build its reputation on integrity and innovation. Ensuring continuous tier one content provision has maintained its position as a premium brand in Italy, driven key market trends and ensured quality playing experiences.

Andy Huang, CEO, TaDa Gaming, said: ‘Partnering with Pixelo is doubly exciting for TaDa Gaming: we are entering a new market with a leading operator who shares our commitment to quality gaming, and who is enabling us to realise the enormous potential of our Fishing-Shooting releases in a new market. We are delighted that not only TaDa’s unique Fishing-Shooting games have resonated with players in Italy but our diverse portfolio of slots, crash and Plinko is also a success in such a short time. Thanks to Pixelo’s seamless integration process and professionalism, our collaboration to date has been both smooth and highly effective. We are looking forward to delivering exciting play in iGaming together.’

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Lucio Pellecchia, CEO, Pixelo SRL, followed: ‘With TaDa Gaming as our strategic partner, aligning with our ongoing pursuit of innovation and excellence, we will further expand our already extensive offering, reach new market segments, and solidify our position in the industry. We are excited about this collaboration and are confident that our customers will appreciate this new value proposition. The exclusivity of this partnership represents a unique opportunity for both brands to grow and strengthen their presence in the Italian market. Thanks to our integration hub, we will be able to offer all interested gaming operators, all of TaDa Gaming’s games, and especially the extraordinary Fishing-Shooting Games, an absolute novelty in our market.’

The post TaDa Gaming Successfully Enters Italian Market with Pixelo Partnership appeared first on European Gaming Industry News.

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Gaming Americas Weekly Roundup – November 11-17

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Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news and new partnerships. Read on and get updated.

Latest News

Golden Entertainment Inc. reported financial results for the third quarter ended September 30. The Company reported third quarter revenue of $161.2 million, net income of $5.2 million and Adjusted EBITDA of $34.0 million. In addition, on November 5, the Company’s Board of Directors authorised the Company’s recurring quarterly cash dividend of $0.25 per share of the Company’s outstanding common stock payable on January 7, 2025 to shareholders of record as of December 20, 2024.

Snoqualmie Casino has announced its rebranding to Snoqualmie Casino & Hotel, reflecting an exciting new chapter in the venue’s history as it embarks on a much-anticipated expansion. Set for completion in mid-2025, this project promises to elevate the guest experience, making Snoqualmie Casino & Hotel a premier destination for entertainment, relaxation and culinary excellence. The cornerstone of the expansion is the construction of a luxurious hotel, which will offer guests unparalleled comfort and stunning views of the Snoqualmie Valley and Mount Si.

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Galaxy Gaming Inc., the world’s largest independent developer and distributor of casino table games and technology announced, at a special meeting of its stockholders held on November 12, 2024 (the Special Meeting), Galaxy Gaming stockholders voted to approve the Company’s acquisition by Evolution Malta Holding Limited (Evolution), Evolution AB (publ)’s wholly owned subsidiary. Galaxy Gaming will file a Form 8-K with the U.S. Securities and Exchange Commission reporting the final voting results of the Special Meeting.

Caesars Virginia has announced that its highly anticipated opening date will be Thursday, Dec. 12, 2024. The resort will welcome its first guests beginning at noon. Additional details on the opening festivities will be announced at a later date. Caesars Virginia is a 587,000 square foot casino resort with more than 90,000 square feet of gaming space.

Partnerships

NGX has entered into a strategic partnership with Sportradar, a global leader in sports integrity solutions, which collaborates with more than 180 sports federations and leagues. The agreement aims to support the Brazilian football federations of Rio Grande do Sul, Paraná and Pará, providing detailed reports to ensure the integrity of sporting events and combat fraud.

EvenBet Gaming has announced the launch of its advanced poker solutions in partnership with JugaMax, one of the largest and most respected casino operators in Paraguay. This strategic collaboration marks EvenBet’s debut in the Paraguayan iGaming market, solidifying the company’s expansion within Latin America. The newly established partnership enables the integration of EvenBet Gaming’s poker offering on the JugaMax platform.

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Jackpocket, the leading lottery app in the US, and Barstool Sports announced a new collaboration naming Jackpocket as the “Exclusive & Official Digital Lottery Partner of Barstool Sports”. The deal with Barstool follows Jackpocket’s parent company, DraftKings, announcing a similar agreement with the media company in February 2024. This collaboration centers around the integration of Jackpocket in Barstool’s content. Fans can participate in the lottery alongside some of Barstool’s biggest names such as Dave Portnoy, Big Cat & PFT from Pardon My Take – the leading sports podcast in America, Wallo & Gillie from Million Dollaz Worth of Game and more.

The post Gaming Americas Weekly Roundup – November 11-17 appeared first on European Gaming Industry News.

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