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BlockChain plans to go public shortly

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BlockChain Innovations Corp., an international supplier of blockchain technology catering to the regulated gaming industry – is all set to go public in the third quarter of 2018. It has signed a letter of intent with Capricorn Business Acquisition Inc. for its qualifying transaction to go public. This is an offshoot the US Supreme Court decision to strike down the law that prohibited gambling outside of Nevada. According to the American Gaming Association, there is over US$250 billion wagered annually in the USA.

FMI Capital Advisory Inc., (a sister company to Foundation Markets Inc. – a Toronto-based merchant/investment banking group) has been engaged to act as an exclusive financial advisor to BCI and FMI has been engaged as a financing agent to complete a capital raise via private placement.

The raise will target strategic and institutional investors, and the net proceeds will be used to invest in the Company’s technology and product development, marketing and brand awareness, and working capital.

The planned go-public transaction will make BCI the first on-blockchain wagering public company in the world to serve the regulated and player-to-player gaming industries in the United Kingdom, Europe, USA, and gaming jurisdictions worldwide. BCI will announce further details pertaining to the go-public transaction in due course.

BCI’s CEO Matt Stafford commented: “With the United States sports betting market opening and the go-public transaction set for the Third Quarter, BCI can bring its gaming-by-design blockchain technology to several regulated gaming markets, I want to extend a sincere thanks to all our investors for making this milestone in BCI’s history possible.

Adam Szweras, Chairman of Foundation Markets also commented: “BCI continues Foundation Market’s proven track record of successfully backing companies in the emerging high growth industries. We are excited to be a part of BCI’s one-of-a-kind market-ready blockchain technology.

Source: FocusGamingNews

Source: Latest News on European Gaming Media Network

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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New Jersey Gambling Regulators Imposes a Fine of $10K on PokerStars

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9-14 New Jersey Gambling Regulators Imposes a Fine of $10K on PokerStarsReading Time: 1 minute

 

New Jersey gambling regulators have imposed a fine of $10,000 on PokerStars for taking bets on New Jersey college basketball teams in violation of the state’s sports betting law.

According to the documents filed by the state, PokerStars accepted 216 wagers on a game involving Rutgers and Eastern Michigan University totalling more than $2,700.

The company also took a single bet on a game involving Monmouth University and the University of Pennsylvania, whose value was not disclosed.

The fine comes as New Jersey lawmakers are considering a bill that would set fines starting at $20,000 and ranging up to $100,000 for companies that take prohibited bets on New Jersey college teams.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: New Jersey Gambling Regulators Imposes a Fine of K on PokerStars

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Romanian Investors to Relaunch and Turn Lebada Luxury Resort & Spa into Casino

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8-15 Romanian Investors to Relaunch and Turn Lebada Luxury Resort & Spa into CasinoReading Time: 1 minute

 

Two Romanian entrepreneurs are going to relaunch the Lebada Luxury Resort & Spa in the Danube Delta. They have invested EUR 20 million in the complex, purchased in 2017 for EUR 3 million from the tax agency ANAF. ANAF sold the complex to recover damages owed to the state by convicted businessman Sorin Ovidiu Vantu.

The re-opening comes at a time when the lawmakers discuss a law that extends special fiscal regime to gambling operations located on islands “including in the bioreserve Danube Delta.”

“We have a casino building, but we are waiting for the regulations in place,” said Laurentiu Niculae, general manager Lebada Luxury Resort & SPA.

Lebada Luxury Resort & Spa is located in the heart of the Danube Delta, on the Sulina branch. The complex has a land of almost four hectares. The complex has over 200 accommodation rooms, of which 140 are for the guests and the rest of the employees.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Romanian Investors to Relaunch and Turn Lebada Luxury Resort & Spa into Casino

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Swedish iGaming Market Posts a Turnover of €313.8 Million in Q1

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7-15 Swedish iGaming Market Posts a Turnover of €313.8 Million in Q1Reading Time: 1 minute

 

Swedish iGaming market has revealed its first financial report for the first quarter and posts a total turnover of €313.8 million. ATG, the former horse racing monopoly, led the market with a turnover of €102 million.

In January, online gaming turnover reached €106 million, slightly declined to €104 million in February and was flat in March.

The Svenska Spel Sport & Casino reported turnover of €55 million for the three months, €18 million in January, €18.3 million in February and repeated in March.

The newly-regulated Swedish iGaming market was launched on January 1, introducing major changes for the local industry, such as the rebrand of the local regulator and the introduction of new iGaming companies.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Swedish iGaming Market Posts a Turnover of €313.8 Million in Q1

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