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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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Kai Botha
QTech Games continues to move fast with Playnetic integration
QTech Games, the leading game aggregator for all emerging markets, has announced its latest partnership with Playnetic, an emerging force in iGaming casino entertainment content allowing its platform clients access to another timely delivered portfolio of games focusing on immersive experiences.
Integrating games from one of the more visually stunning slots providers adds yet more variety to QTech Games’ premier platform, which is taking the widest range of online games to emerging territories with established names sitting alongside the industry’s most exciting up-and-coming providers. Playnetic’s standout titles include recent releases like Patrick vs Joker, alongside established fan favourites such as Joxer, Scarabs of Wealth and Lucky Licks.
Playnetic prides itself on creating engaging, innovative and high performing games that are suitable for all global gaming markets, delivering a personalised approach, which offers operators more flexibility in their iGaming content choices to suit specific markets. This integration also ensures QTech’s array of operator partners can leverage more innovative and high-performing content to stay ahead in a competitive marketplace.
Playnetic’s portfolio has been optimised for mobile, a cornerstone of QTech’s RNG model, which is founded on its fully-owned and customised technical platform, allowing games providers and operators the fastest integration available. With over 50 years’ management experience, QTech Games’ diverse range of gaming options is designed to provide a definitive one-stop shop. While its all-inclusive licence fee model, unified game launcher and wallet integration API mean clients can easily connect and access an all-encompassing portfolio in a few clicks. This has fast-become the “go-to” solution for worldwide operators across developing territories.
Philip Doftvik, QTech Games’ CEO, said: “We will continue to add fresh content to the platform, prioritising suppliers who provide unique, localised content. Playnetic’s immersive and player-focussed gaming suite fits the bill perfectly. Their content brings a new level of energy and engagement which we’re excited to share across our ever-growing group of operators.
Kai Botha, Chief Commercial Officer at Playnetic, added: “Playnetic’s mission is to create innovative, thrilling, and high preforming premium quality games that connect with players across multiple markets. For us that means casino content that is informed by market insights, advances in game play features supported by robust technology and the latest gameplay trends.
This deal marks another significant stride in enhancing our delivery efficiency, accelerating markets access to our games to connect with even more players. We look forward to seeing our games portfolio being available through QTech’s network.”
The post QTech Games continues to move fast with Playnetic integration appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Andrew Cardno
SkyCity Expands its Strategic Partnership with Quick Custom Intelligence
Quick Custom Intelligence (QCI), a leading provider of casino operational intelligence software, announced the expansion of its strategic partnership with SkyCity Entertainment Group, New Zealand’s premier entertainment and gaming company.
SkyCity has successfully utilised QCI Slots for several years to enhance operational visibility, productivity and optimisation across its gaming floors. Building on that foundation, SkyCity is now expanding its engagement with QCI to support a more integrated, enterprise-wide view of customer and operational intelligence across its properties, product channels and services.
The expanded collaboration will introduce additional capabilities within the QCI Enterprise Platform, enabling SkyCity to consolidate data from across its ecosystem and transform it into actionable insight. It introduces enhanced tools to support customer engagement, segmentation and targeted decision-making, helping teams better understand customers, tailor experiences and respond more quickly to changing customer and operational needs. This is a key capability in an increasingly omni-channel environment.
“Our partnership with QCI has developed into a truly strategic collaboration, supporting how we integrate critical customer, product, and operational intelligence,” said Christina Katsibouba, Chief Digital & Transformation Officer at SkyCity.
“As we continue to develop our digital and omni-channel strategy, this expanded engagement reflects a shared goal to use connected data and insights to make better decisions, achieve stronger customer outcomes and create long-term value across the organization. Collaborating closely with QCI allows us to operate with greater agility today, while also shaping the future of how integrated entertainment and gaming businesses utilize intelligence at scale.”
QCI’s Enterprise Platform supports casino resorts worldwide by integrating data from across gaming, hospitality, and digital environments, delivering real-time intelligence that empowers teams to improve efficiency, enhance customer engagement and make faster, more informed decisions.
“SkyCity has been an outstanding partner and an innovative leader in the gaming industry. This expansion reflects the strong foundation we’ve built together and our shared commitment leveraging connected intelligence to drive stronger customer outcomes, support omni-channel strategies, and create a more agile and data-led operating model,” said Andrew Cardno, Co-Founder and CTO of Quick Custom Intelligence.
The continued collaboration between SkyCity Entertainment Group and QCI reflects both organisations’ commitment to innovation, customer excellence and the ongoing advancement of technology within the global gaming industry.
The post SkyCity Expands its Strategic Partnership with Quick Custom Intelligence appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Brooks Pierce
Inspired Entertainment Announces New SaaS Distribution Agreement with Playtech
Inspired Entertainment, a leading provider of B2B gaming content and systems, announced a new SaaS distribution agreement with Playtech, one of the world’s leading gambling technology companies.
Under the agreement, Inspired’s Virtual Sports portfolio, including its market-leading licensed content and U.S. sports offerings, will be distributed via Playtech’s Sportsbook platform to operators worldwide.
The SaaS solution features a cloud-hosted back-end integration with Playtech, allowing for modular delivery that can be adapted to customer needs. Inspired’s Virtual Sports portfolio provides operators with products designed to enhance engagement and drive player growth. This integration enables Playtech’s partners seamless access to Inspired’s Virtual Sports.
“This partnership represents a major milestone for Inspired. By becoming one of Playtech’s Virtual Sports partners, we can deliver our cutting-edge content to a wider global audience via one seamless integration,” said Brooks Pierce, President and CEO of Inspired.
“We are delighted to partner with Inspired Entertainment. This agreement extends our Virtual Sports offering and reaffirms Playtech’s commitment to providing innovative, engaging experiences to players across multiple regulated territories,” said Yori Arami, VP of Sports Commercial at Playtech.
This agreement combines Inspired’s innovative content and cloud-native delivery with Playtech’s established operator network, resulting in a more engaging virtual gaming experience for players.
The post Inspired Entertainment Announces New SaaS Distribution Agreement with Playtech appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
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