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E-Systems and EGT gain ground in Switzerland

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EGT E-Systems and EGT gain ground in SwitzerlandReading Time: 2 minutes

 

Since May Euro Games Technology and E-Systems GmbH, the long-term and exclusive distributor of EGT’s products in Switzerland and other European jurisdictions, have launched the Swiss Orange Collection in most Swiss casino operations. Powered by the reliable Exciter III platform, the multi-game is the latest edition of the highly successful Collection Series and contains 48 different titles, a great mix of EGT’s proven performers, as well as 19 brand new games for the local market.

The Swiss Orange Collection is available in most EGT cabinets, such as the innovative Super Premier and Super Premier 75, the stylish and curved P-42V Upright and Slant Top and the timeless classics P-27/27 StP-27/27 St Slim and P-24/24 Up. The premiere of the multi-game in Switzerland took place on May 30 at Casino Pfäffikon-Zürichsee, part of the Swiss Casinos Group, launched in a pair of Super Premier cabinets. Since then many more Super Premier machines with their eye-catching design and comfortable multimedia chair were rolled out together with other available slot models all over the country and stormed to the top of the popularity lists quickly.

Casino Courrendlin, part of the Groupe Barrière in the French speaking part of Switzerland, placed a pair of Super Premier cabinets along with a pair of P-42V Curved Upright machines and the initial reactions of their players were very enthusiastic, followed by highly positive feedbacks.

Just in time to be prepared for their guests, expected during the upcoming snow skiing season, Casino Bad Ragaz also welcomed two Super Premier and two P-42V Curved Slant Top cabinets as some of its highlights for the visitors.

EGT continues to develop the Swiss market and builds on the huge success of the Swiss Orange Collection, following up with a second multi-game of the Collection Series especially for the country – the Swiss Red Collection, which has just become available. It also contains 48 games, adding another 12 new titles. This is how EGT has released a total of 31 brand new games for Switzerland only in 2018, a proof for the company’s commitment and willingness to constantly give more to both operators and players.


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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Cherry acquires remaining shares in Game Lounge

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Cherry-acquires-remaining-shares Cherry acquires remaining shares in Game LoungeReading Time: 2 minutes

 

Cherry AB (publ) (“Cherry”) – STO: CHER-B.ST – has signed an agreement to acquire the remaining shares in leading affiliate company Game Lounge Sweden AB (“Game Lounge”), thus gaining 100-percent ownership.

 

Cherry currently owns 95 percent of Game Lounge, which in turn owns 100 percent of Game Lounge Ltd. Cherry has signed an agreement to acquire the remaining 5 percent of Game Lounge. The purchase consideration consists of three parts and can amount to a maximum SEK 260 million.

The first part of the purchase consideration is fixed and amounts to SEK 100 million to be paid in cash when Cherry gains control of the shares. The second part of the purchase considerations amounts to SEK 60 million and is conditional on Game Lounge’s consolidated EBITDA for the period 1 January 2019 to 30 June 2019 exceeding SEK 90 million. In the event that the target of SEK 90 million is not reached as per 30 June 2019, the measurement period will be extended until 30 September 2019, at which time, Game Lounge’s consolidated EBITDA shall amount to at least SEK 150 million. The third part of the purchase consideration amounts to SEK 100 million and requires Game Lounge’s consolidated EBITDA to exceed SEK 300 million for any consecutive four calendar quarter period between 1 July 2019 and 31 December 2021, or between 1 October 2019 and 31 December 2021 in the event that the measurement period for the second part of the purchase consideration is extended in accordance with the above. Cherry is entitled to pay all or part of the second and third parts of the purchase consideration in Class B shares in Cherry.

The sellers are employees of Game Lounge. Against this background, the acquisition constitutes a so-called related-party transaction and must therefore be approved by a general meeting in Cherry. Cherry’s Board of Directors will prepare a written account of the acquisition and obtain an independent valuation statement (fairness opinion) regarding Game Lounge.

The operations in Game Lounge have developed well and Cherry’s Board of Directors makes the assessment that the company will continue to enjoy favourable market conditions into the future and that it is therefore desirable to increase Cherry’s holding to 100 percent. The sellers will remain in their senior positions, are shareholders in Cherry and also participate in incentive program within the Cherry Group. Accordingly, the Board of Directors assesses that the terms of the acquisition, including the purchase consideration, are in line with the market and will therefore recommend that Cherry’s Annual General Meeting approve the acquisition in accordance with the principal terms above.

 


CHERRY IN BRIEF:

Cherry is an innovative and fast-growing gaming company with operations in gaming, media and entertainment.
The company was founded in 1963 and today, Cherry operates through five diversified business areas: Online Gaming, Game Development, Online Marketing, Gaming Technology, and Restaurant Casino. The Group’s objective is to grow organically in combination with strategic acquisitions of fast-growing companies. Cherry employs some 1,400 people and has about 9,250 shareholders. The company’s class B share is listed on the Nasdaq Stockholm exchange, Mid Cap segment. More information is available at www.cherry.se.


Source: Latest News on European Gaming Media Network

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Lottoland Announces The 4th Biggest Global Jackpot In History

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lottoland-mega-millions Lottoland Announces The 4th Biggest Global Jackpot In HistoryReading Time: 2 minutes

 

MegaMillions jackpot rolls to 654m USD – and could reach a record $BILLION by the end of the week

One lucky Brit could be in line to claim a near 500million (GBP) prize* this week after Lottoland announced its second ever largest Mega Millions jackpot.

This week’s top prize has reached a whopping 654m in USD to become the 4th largest jackpot in history – and is just two rollovers away from reaching an eye watering $1billion.

UK Lottoland players keen to claim one of the world’s biggest prize pots ever – equal to £497,206,770 in sterling* – can do so via the online betting company.

Nigel Birrell, CEO at Lottoland, said: “As ‘landmark’ moments go this week has already brought us a few, and has the potential to deliver a great deal more.

“We are pretty well versed in dealing with ‘lifechanging’ moments here at Lottoland, but to be talking about hundreds of millions – and potentially in billions – it doesn’t get much more exciting than that.”

“We haven’t seen hysteria like this surrounding a jackpot since the Powerball reached $1billion in 2016,” Nigel added.

“Make no mistake, this is a once in a lifetime moment that is about to make somebody’s dreams out there come true – believe it, you might just be the one to achieve it.”

The Mega Millions jackpot has been rolling over since the 27th July and will continue to rise until it is won, with the overall total topping $1billion by the end of the week if not claimed beforehand.

About Lottoland:

Lottoland has grown rapidly to become a world leader in online lotto. Innovation, coupled with the freedom to offer players a unique and enhanced lottery experience, has been key to the company’s success. In June 2018, Lottoland paid out €90 million to one lucky winner in Germany – this win has been confirmed by Guinness World Records as the Largest online gambling payout. This is also the biggest payout for Lottoland to date.

The Gibraltar-based business is active in 13 markets, has over 350 employees, and more than 8 million customers worldwide. Lottoland is licensed and regulated by the Government of Gibraltar, the UK Gambling Commission, the Republic of Ireland National Excise License Office, the Agenzia delle Dogane e dei Monopoli in Italy and the Northern Territory’s Racing Commission in Australia.


Source: Latest News on European Gaming Media Network

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Melco proposes eSports stadium in Japanese casino

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Melco-proposes-eSports-stadium Melco proposes eSports stadium in Japanese casinoReading Time: 1 minute

The Hong Kong-based Melco Resorts & Entertainment has proposed to construct an eSports stadium in its planned Japanese resort.

“It is very likely that the esports stadium [will] become one of the key components for our integrated resort in Japan. The content that esports offers will be very diverse, with the advancement of technology, by the time a resort opens in Japan,” – stated Melco’s Chief Financial Officer, Geoffrey Davis for Nikkei Asian Review.

Melco was the first casino operator to open an eSports stadium at its Studio City facility this year in Macau. Geoff Andres, Property President of Studio City Macau at Melco said that eSports is a fast-growing market segment that is constantly innovating and evolving.

“The Japan resort will attract visitors, most likely from the region,” said Davis. “Having relationships with Chinese customers can be a big strength for Melco to contribute to Japan’s inbound tourism,” he added.

Source: Latest News on European Gaming Media Network

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