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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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BetBlocker partners with Yellow Scarf to deliver to valuable support to Ukrainian, Polish and Russian communities in the UK
BetBlocker, a charity providing free, anonymous to use, blocking software has partnered with Yellow Scarf, a charity working to deliver support and treatment for Eastern European communities in the Midlands of the UK, to deliver translated versions of the BetBlocker service to support Ukrainian, Polish and Russian communities.
Supported by funding from GambleAware, this project has resulted in the roll out of key native language support for under-supported minority communities. Removing barriers to accessing support services is one of the cornerstones of the minimisation of harm.
Founder and Trustee for BetBlocker, Duncan Garvie, had this to say about the launch of the BetBlocker in these new languages: “A significant priority for BetBlocker is expanding the languages that we can support. As a tech solution to a complex problem, ensuring that users have as smooth and easy a set-up process as possible is paramount to our success in minimising gambling harms. If a user can’t get our app set-up, we’ve failed.
For this reason it’s critical that we facilitate users accessing our app in a language that they’re confident using. Yellow Scarf’s critical work has highlighted the need that exists to provide BetBlocker in languages that the Ukrainian, Polish and Russian communities in the UK can easily access.
The opportunity that GambleAware has provided us to cooperates with an important treatment provider in the UK to expand the service we offer and ensure that our support can be accessed by these under-served communities is one that we were thrilled to take on.”
Tomasz Jarecki, Head of Development at Yellow Scarf, added: “It is a great honour for us to support BetBlocker in making their project more accessible and reaching wider communities – translation into a national language ensures that the more vulnerable people will be able to receive support that would otherwise miss them. More than 25% of Eastern Europeans living in the UK still struggle, despite their best efforts, to fluently speak English in unusual circumstances – and it raises our spirits to find partners such as Betblocker, willing to put in an extra effort to support instead of judge.”
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Industry-leading casino content provider Stakelogic has enhanced its presence in the Danish market by signing a partnership with leading operator Bet25.dk. This new integration, facilitated by Light & Wonder, will allow the site full access to Stakelogic’s in-demand online slot portfolio.
Players at Bet25.dk will now be able to enjoy cutting-edge online slot action in games like Snowflake Sorcery, Emperor’s Champion, and The Watcher, all of which showcase Stakelogic’s commitment to innovation and excitement.
Bet25.dk is an extremely popular online casino with years of experience in the Danish market. The addition of Stakelogic’s slot portfolio will only amplify the top-quality service the casino already offers players.
As per the deal, an exciting promotion based around Stakelogic’s industry-first Super Wheel bonus will be part of the launch campaign. Super Wheel combines the excitement of online slots with the immersive environment of a live casino.
The optional side-bet gives players the chance to be whisked away to a live studio setting where they can spin the Super Wheel to win prizes or trigger additional bonuses.
Robert Stoyanov, Account Manager at Stakelogic, said: “The Danish market is an extremely important one for Stakelogic, and working with brands like Bet25 will only help us strengthen our position there. The company’s reputation speaks for itself.
It has a history of bringing exciting and unique online slot experiences to its players, and we are excited to become a part of its slot catalogue.”
Lasse Larsen, Casino Product Owner at Bet25.dk, said: “We pride ourselves on delivering the most innovative online slot experiences to our players, and the integration of Stakelogic’s award-winning slot portfolio only reinforces that position.
When players log in to Bet25, they expect to find the best online slots on the market, and this new partnership ensures that this is exactly what happens.”
The post Stakelogic Wraps Up Deal with Bet25.dk appeared first on European Gaming Industry News.
Fast-growing data science company renews deal with Swiss casino group to further drive retention and provide ML-based gamification optimisation to its B2B arm, Gamanza Group AG
Golden Whale Productions, the innovative data science company specialising in AI-powered solutions and machine learning for the iGaming industry, has announced it has signed a multi-year extension to its current agreement with Stadtcasino Baden Group.
Having previously worked with the Swiss casino group to drive customer retention and thereby increase its market share, Golden Whale will continue to support the business in this capacity while also cooperating more intensively with the Stadtcasino Baden Group’s B2B arm, Gamanza.
A subsidiary of Stadtcasino Baden Group, Gamanza has a strong track record for creating software for the iGaming industry and counts GamanzaEngage – Switzerland’s leading software suite for online casinos – among its recent success stories. Now supported by Golden Whale, the B2B brand will be able to draw on powerful ML-based optimisation to further enhance its offering.
One of the main aspects Golden Whale will focus on as part of the extended deal is using its advanced, data-driven technologies to turbo-charge Gamanza’s existing gamification suite, with this empowering the group to offer an even more comprehensive promotional toolkit to its clients.
As such, the renewed partnership offers considerable strategic importance for both Gamanza and the Stadtcasino Baden Group brand, while also offering Golden Whale the opportunity to deploy its ML systems and predictive optimisation tools among a large and highly-engaged customer base.
Eberhard Dürrschmid, Chief Executive Officer at Golden Whale, said: “Golden Whale is delighted to announce we’ve agreed a multi-year extension to our current deal with Stadtcasino Baden Group that will see us assist the company with both player retention and increasing market share.
“As part of the agreement, we’ll continue the strong work we’ve done with the brand over the past couple of years while also cooperating more closely with its main B2B arm, Gamanza, to bring our pioneering form of ML-based optimisation directly onto the latter’s gamification suite.”
Christian Aumüller, Chief Executive Officer at Stadtcasino Baden Group, said: “As one of the gaming industry’s true trailblazers, Stadtcasino Baden Group is very happy to renew its partnership with Golden Whale Productions – a company that, like us, now sits at the very forefront of iGaming innovation.
“The decision to extend the deal was made with a view to drive customer retention and further increase our market share, while also optimising the products and services we offer to B2B clients through Gamanza. With AI and machine learning both having a big role to play in the future of iGaming, the collaboration will hold great strategic importance for us going forward.”
The post Golden Whale announce multi-year extension with Stadtcasino Baden Group appeared first on European Gaming Industry News.
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