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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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Bryndís Hrafnkelsdóttir
NOVOVISION Implemented at the University of Iceland Lottery
The University of Iceland Lottery UIL (Happdrætti Háskóla Íslands) was established in 1933 for the purpose of funding the university buildings as well as the purchase of research equipment and other supplies. It is licensed to operate three types of lotteries in the Icelandic market: the traditional class lottery that was established upon its foundation, instant scratch cards, and some 500 gaming terminals which are currently operated in 19 venues across Iceland. Lottery games are very popular in Iceland and generally used as a means of raising money for community purposes.
The University of Iceland Lottery UIL (Happdrætti Háskóla Íslands) has implemented a new platform for gaming terminals in an aim to improve operational efficiency while ensuring a responsible approach to gaming. In a public tender, NOVOMATIC was chosen as the provider of the new CMS: NOVOVISION is the selected management solution, comprising in phase one a variety of functionalites including slots accounting, TiTo, AML, Business Intelligence and the NV smart Staff App in addition to providing the required IT infrastructure for all UIL venues. More system functionality is to be added at a later stage.
The system roll-out across all 19 venues was achieved in a timely manner during ongoing operations and with minimum disruption to the players. Apart from the manifold new functionalities on the operator side, the high level of system integration allows UIL customers to now redeem their tickets online via the UIL Players’ App directly to their bank accounts.
Fabian Schnötzinger, Market Coordination NBS, said: “This was a very special project that yielded immediate progress in ongoing operations. Gaining an in-depth understanding of the on-site requirements and implementing the integration together with the UIL team was a very positive experience for us, knowing that NOVOVISION would generate significant value in several areas. It was also the expertise and high level of commitment of the UIL team that made this project special: They addressed topics openly, provided quick feedback and made time in their schedules for implementation. This reliability and hands-on approach were real success factors. I am already looking forward to our cooperation in the next stages of the NOVOVISION implementation.”
“We are pleased to announce our collaboration with NOVOMATIC on this project. Slot machines are an important part of our business, and this technology will provide us with better access to information, helping us to responsibly manage our operations and enhance the player experience,” said Bryndís Hrafnkelsdóttir, CEO of UIL.
“The integration of the NOVOVISION platform has proceeded smoothly due to effective planning and great collaboration between UIL and NOVOMATIC. This platform offers features that will support us in making informed decisions without compromising our commitment to responsible gaming. As we move forward, we see opportunities to expand our service offerings and develop new solutions, including the upcoming implementation of electronic player cards. With NOVOVISION, we are well positioned to address the evolving needs of our customers while maintaining our focus on responsible gaming practices. This new platform is a key element of our strategy to enhance our operations and support our mission in the gaming market,” she added.
The post NOVOVISION Implemented at the University of Iceland Lottery appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Balkans
Expanse Studios Signs Content Distribution Deal with Lobbet
Expanse Studios, a subsidiary of Golden Matrix Group, has signed a content distribution agreement with Lobbet, a licensed sports betting and iGaming operator in Montenegro and part of the Fortuna Entertainment Group (FEG). The distribution will be delivered through DualSoft, a leading aggregation platform with an established footprint across regulated European markets.
Under the agreement, Lobbet will integrate Expanse Studios’ proprietary iGaming content into its online offering, expanding the availability of Expanse titles within the Montenegrin regulated market. DualSoft will facilitate distribution and technical integration, enabling scalable deployment across its broader operator network.
The transaction further strengthens Expanse Studios’ presence in regulated European markets and supports Golden Matrix Group’s broader B2B growth strategy. DualSoft represents a high-potential distribution channel, serving more than ten active operators across multiple regulated jurisdictions, with additional expansion planned.
Lobbet operates in Montenegro as part of Fortuna Entertainment Group, one of the largest betting operators in Central Europe, which recently entered the Montenegrin market through the acquisition of Lob, reflecting growing institutional confidence in the country’s regulated gaming sector.
“This agreement reflects our approach to regulated market expansion across Europe, through scalable B2B distribution. Working with DualSoft allows us to reach high-quality operators such as Lobbet while creating optionality across a broader network of regulated markets. Our focus remains on disciplined growth through partners that operate within clear regulatory frameworks,” said Damjan Stamenkovic, CEO of Expanse Studios.
The post Expanse Studios Signs Content Distribution Deal with Lobbet appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Andrew Rhodes
Andrew Rhodes to Step Down as CEO of UK Gambling Commission
The UK Gambling Commission has announced that Andrew Rhodes has decided to leave the Commission on 30 April 2026, to take up a new role, which will be announced in due course.
Andrew has provided outstanding leadership of the Commission for almost five years and has overseen a transformation of the Commission and how it regulates the gambling Industry.
Andrew has led the work required from the Commission to implement the Gambling Act Review, with a strong focus on consumer safeguards. This has included the introduction of financial vulnerability checks, reducing the intensity of online games, and banning potentially harmful marketing offers. He has also overseen the introduction of the Gambling Survey for Great Britain, now one of the largest surveys of gambling behaviour in the world.
Amongst his other achievements, Andrew oversaw the successful implementation of the Fourth National Lottery licence and transformed the Commission’s approach to regulation through more robust and outcome-focused strategies.
He said: “It has been a privilege to lead the Gambling Commission through such an important period of change. I am proud of the progress we have made to strengthen regulation, improve consumer protections, and ensure gambling is safer and fairer. I leave with confidence in the organisation, its people, and the work still to come.”
Charles Counsell, Interim Chair of the Gambling Commission, said: “Andrew has provided outstanding leadership for nearly five years and leaves a strong legacy. He has led the Commission through major reform, strengthened our regulatory approach, and ensured consumer protection has remained at the heart of our work. On behalf of the Board, I would like to thank Andrew for his dedication and wish him every success in the future.”
The Commission will shortly begin the process of recruiting a Chief Executive for an interim period. Deputy Chief Executive Sarah Gardner will step up as Acting Chief Executive to cover the areas of work that Andrew will step back from during this transitional period.
The post Andrew Rhodes to Step Down as CEO of UK Gambling Commission appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
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