Canada
Real Luck Group Provides Corporate Update and Announces Restructuring of Operations Following Termination of LOI
Following a thorough examination and assessment of the proposed Merger or Acquisition, the Company has determined that the potential transactions under consideration since the announcement on September 7th are not viable and are not currently in the best interest of the Company and its shareholders. Furthermore, despite the significant growth the Company has experienced since the start of 2023 and its well documented and defined requirement for additional funding to support this continued expansion, it has been unable to secure the required capital injection due to persistently challenging conditions in the capital markets.
The Company will now look to restructure its operations. This means an immediate suspension of betting and player registrations on its B2C platform, Luckbox.com and a shift towards the more cost effective B2B activities of the Company. B2C has generated all the Company’s revenue to date, but achieving profitability will require significantly more capital than launching the B2B platform.
All Luckbox players will continue to be able to withdraw their funds, which are segregated from the Company’s operational funds and will be supported as per the requirements of the Online Gambling Regulation Act 2001.
The Company has also resolved to wind up Real Time Game Services Ltd (“RTGS”)., an indirect material subsidiary in the Isle of Man (“IOM”) that services the group and holds agreements with the majority of the B2C service providers, contractors and employees. In this regard, insolvency practitioners have been engaged in the IOM and the process to wind up RTGS has started.
The insolvency is isolated to RTGS and no other subsidiaries of the Company are affected, including the license holder Real Time Games Holding Ltd.
The restructuring is expected to be completed this year and will result in a new optimized and better focused corporate structure with no debt and minimal cash burn.
The Company also continues to explore other strategic and operational options, including but not limited to a potential merger, acquisition, or a capital raise for growing its B2B or restarting B2C operations. Any potential transaction which is determined by the board of the Company to be in the interest of the Company and its shareholders may be, ultimately, contingent upon approval from the TSX Venture Exchange (“TSXV”) and the Company’s shareholders, as applicable. There can be no assurance that this process will result in any specific financial transaction. The Company does not plan to provide updates on the status of the transaction unless there are material developments to report.
Jo-Anne Archibald (Company Secretary) and Benn Timbury (COO) have both resigned as officers for the Company during September 2023. Benn Timbury continues to support the Company as an adviser. The Directors of the Company remain unchanged.
Playson, the skilled digital entertainment provider, has entered a partnership agreement with Mohegan Digital to enhance its presence in the Ontario market, where it functions as PlayFallsview.com online casino.
The deal will allow Playson’s collection to be accessible to local players, with the expected launch in early Q2 2026. The collaboration enhances the supplier’s presence in North America by partnering with one of the area’s most well-known and thriving tribal gaming operators, Mohegan.
Play Fallsview is the digital hub for the stunning Fallsview Casino Resort in Niagara Falls, Ontario, CA, managed by Mohegan.
Participants on Play Fallsview will gain entry to a range of Playson’s successful titles, such as Coin Strike: Hold and Win, Diamonds Power XXL: Hold and Win, and 4 Pots Riches: Hold and Win. All of Playson’s games offer engaging mechanics, distinctive visuals, and established player retention.
Launching through Light & Wonder’s platform guarantees a smooth deployment and dependable content delivery to the regulated market.
Conor Jenner, Senior Sales Manager at Playson, said: “Fallsview is an iconic entertainment destination and a fantastic partner for us as we continue to grow our presence in Ontario.
“Launching through our long-term partners Light & Wonder allows us to deliver our most engaging titles efficiently and at scale. We’re excited to bring our popular content to Fallsview’s players and build a strong relationship together.”
Rich Roberts, President of Mohegan Digital, said: “Playson’s portfolio provides popular and in-demand additions to offerings on Play Fallsview.
“Through this collaboration, we look forward to impressive production value with gameplay that is sure to resonate with players. Playson is a premier supplier with experience in regulated markets that aligns seamlessly with our approach to digital growth in Ontario.”
The post Playson expands North American reach with Mohegan Digital partnership appeared first on Americas iGaming & Sports Betting News.
CasinoCanada.com has established a partnership with FortuneJack crypto casino to support brand visibility and drive traffic to the platform across non-regulated Canadian markets.
CasinoCanada will create and publish informational content highlighting FortuneJack’s features and gaming portfolio. The content will be integrated into CasinoCanada’s review and comparison sections to expand coverage and improve user navigation.
CasinoCanada is an online casino guide focused on the Canadian market, operated by SEOBROTHERS.
Eugene Ravdin, Head of PR at SEOBROTHERS, stated: “Our objective is to provide users with structured information about FortuneJack’s platform and support consistent traffic development. With crypto casinos rapidly growing in popularity and becoming an increasingly important segment of the iGaming industry, we see strong potential in this direction and aim to help users navigate it with clarity and confidence.”
Established in 2012, FortuneJack is an online cryptocurrency casino platform offering over 3,500 games, including more than 2,700 slot titles. The platform features providers such as Pragmatic Play, Yggdrasil, Betsoft Gaming, Red Tiger, GameArt, and PG Soft.
FortuneJack’s live casino section includes up to 135 games, along with betting options across 50 sports. FortuneJack is operated by PlayWave SRL, registered and licensed under Anjouan laws.
Sally Betanishvili, Brand Manager at FortuneJack commented: “At FortuneJack, Since 2014 our priority is staying at the forefront of the iGaming evolution by offering a premier crypto-gaming experience. Partnering with CasinoCanada allows us to bring our extensive portfolio of over 6000+ games to a wider Canadian audience that values transparency and variety. We are excited to work with a partner that shares our commitment to helping players navigate the exciting world of crypto casinos with confidence.”
The partnership will focus on ongoing content development, increased platform visibility, and user acquisition initiatives across CasinoCanada’s media channels.
The post CasinoCanada announces partnership with FortuneJack casino appeared first on Americas iGaming & Sports Betting News.
CasinoCanada.com has partnered with FortuneJack crypto casino to increase FortuneJack’s visibility and drive traffic via CasinoCanada’s content channels in non-regulated Canadian markets.
Under the deal, CasinoCanada will create and publish informational content focused on FortuneJack’s features and gaming portfolio. The material will be integrated into CasinoCanada’s review and comparison sections, which the company said is intended to expand coverage and improve user navigation.
CasinoCanada is an online casino guide focused on the Canadian market and operated by SEOBROTHERS. Eugene Ravdin, Head of PR at SEOBROTHERS, said: “Our objective is to provide users with structured information about FortuneJack’s platform and support consistent traffic development. With crypto casinos rapidly growing in popularity and becoming an increasingly important segment of the iGaming industry, we see strong potential in this direction and aim to help users navigate it with clarity and confidence.”
FortuneJack, established in 2012, said it offers over 3,500 games, including more than 2,700 slots, from providers including Pragmatic Play, Yggdrasil, Betsoft Gaming, Red Tiger, GameArt, and PG Soft. The operator also lists up to 135 live casino games and betting across 50 sports. FortuneJack is operated by PlayWave SRL and is registered and licensed under Anjouan laws.
Sally Betanishvili, Brand Manager at FortuneJack, said: “At FortuneJack, Since 2014 our priority is staying at the forefront of the iGaming evolution by offering a premier crypto-gaming experience. Partnering with CasinoCanada allows us to bring our extensive portfolio of over 6000+ games to a wider Canadian audience that values transparency and variety. We are excited to work with a partner that shares our commitment to helping players navigate the exciting world of crypto casinos with confidence.” The companies said the partnership will focus on ongoing content development, increased platform visibility, and user acquisition initiatives across CasinoCanada’s media channels.
The post CasinoCanada partners with FortuneJack to expand crypto casino coverage appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
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