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Gaming Realms confirm sale of Bear Group to River iGaming
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Gaming Realms, the UK-based gaming company has reached an agreement with River iGaming on the sale of Bear Group, its real-money gaming operating subsidiary. To whilst further offloading its 30 per cent share in River UK Casino.
The transaction has a cash consideration of £11.5m, which is set to include the settlement of the contracted deferred consideration of £4.2 million owed to Gaming Realms by River UK Casino.
Patrick Southon, chief executive officer of Gaming Realms, commented: “The new UK regulatory environment, together with increases in point of consumption tax, has made it increasingly difficult to operate a sole UK-facing casino and real money platform; however, the acquisition of the Slingo brand and IP in 2015 has enabled the company to become a highly regarded developer and licensor of games in the international gaming market.”
“This is a high growth market and one that the board believes can be further developed for the benefit of shareholders.”
The net consideration generated by the acquisition is set to provide significant capital to develop games, the remote game server and worldwide licensing of its Slingo brand and slingo.com IP, which is due to remain operated by the Bear Group gaming platform via a deal agreed with River iGaming.
The funds generated from the sale will also facilitate the repayment of the £3.5 million loan from JPJ Group Plc (Jackpotjoy) entered into in December 2017.
Fabian Qvist, chairman of the board of River iGaming, praised the acquisition: “I am very satisfied that River has been able to complete this fully funded transaction, securing full control over some very attractive assets.”
“By having everything under the same roof and removing all uncertainty regarding financing, we both increase the operational and financial strength of the company.”
Kent Staahle, CEO of River iGaming, concluded: “We are very happy to announce this second transaction with GMR. The combination of the Grizzly Platform, and full control of River UK, makes it possible for River to take the step from a mainly B2C oriented company, to become much more B2B focused.”
“We can now turn our focus towards further developing the unique brands in River UK, and leverage synergies between our different operations in Europe, both within the B2C and B2B business.”
As part of the agreement, River iGaming will secure Vegas Casino, Casonic, Pocket Fruity, Britain’s Got Talent Games, Spin Genie, X Factor Games and a number of small casinos currently operated by Bear Group.
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: Gaming Realms confirm sale of Bear Group to River iGaming
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DigitalEjis and Exalogic: Pioneering Responsible Gaming in Italy
DigitalEjis, the pioneering software development company in responsible gaming, and Exalogic, Italy’s premier gambling platform provider, have joined forces in an exciting partnership.
This collaboration marks a significant milestone in the Italian gaming landscape when it comes to upgrading responsible gambling practices and addiction prevention.
Predictive Software for Safer Gaming
DigitalEjis has developed an unparalleled software solution that predicts the onset of gambling addiction before a player places their first bet. Unlike existing tools that identify addiction once compulsive behavior is already underway, DigitalEjis’ predictive software enables operators to customize the betting experience for each customer from day one. By doing so, operators can offer their players the safest and most entertaining environment possible.
Exalogic’s Role in the Partnership
Exalogic, renowned for its robust and reliable gambling platform, has chosen DigitalEjis as their only partner for predictive and antiaddiction product. This strategic alliance ensures that responsible gaming practices become an integral part of the Italian gambling landscape.
Embracing the Italian Market
Dr. Ian McLoughlin, Founder and CEO of DigitalEjis, expressed his enthusiasm: “It’s great to see how wholeheartedly the Italian market has embraced DigitalEjis through this agreement with Italy’s number one platform provider and value-added services partner to the gambling industry.” This collaboration positions DigitalEjis as a first mover in the Italian territory.
Responsible Gambling at the Core
Italy’s new decree on gambling, particularly Article 14, underscores the importance of responsible gaming. The Decree focuses on protecting players from the onset of gambling addiction also adopting software empowered by Artificial Intelligence. DigitalEjis’ product aligns perfectly with this initiative, providing accurate predictions and personalized protection for players.
The post DigitalEjis and Exalogic: Pioneering Responsible Gaming in Italy appeared first on European Gaming Industry News.
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Welder racks up over $69,000 from three back-to-back online casino wins
A 60-year-old welder has netted $69,850, following three consecutive victories at WinSpirit Casino.
“I’ve had some fantastic wins. The best ones were $26,550 and $25,300 during the bonus game,” the man shared.
The lucky winner, who decided to remain anonymous, caught luck by the tail in the Diamonds Power: Hold & Win slot.
“When I play, I follow a strategy. I start with bets of $5-10 and increase them after a few wins,” he said.
Following a string of consecutive wins, the man reached a $50 bet, which ultimately led to his coveted winnings.
“$50 spins go through my finds quickly, but if you get the bonus, the payoff is unbelievable,” the man added.
Diamonds Power: Hold & Win is a 3×3 slot by Playson featuring four fixed jackpots and a unique Hold & Win feature. The game offers a maximum win of 5,150 times the initial bet per round.
To celebrate his success, the man decided to dine at a local casino restaurant with his wife, with whom he had shared 27 years of marriage
“During dinner, we came up with the idea to test my winning strategy again, so we opened the familiar WinSpirit page on my phone,” he laughed.
The fortunate player stumbled upon WinSpirit Casino accidentally while searching for an online platform to enjoy slot games.
“During my search, I tried a few online casinos. But WinSpirit stood out for its ease of use and quick verification process,” he said.
The casino offers its new players a 100% bonus up to 200 USD+ 100 Free Spins and a 200% bonus up to 200 USD on their first and second deposits respectively.
The man also noted that the main reason he plays at the casino is to have fun.
“I play for fun. And big wins… They are like a pleasant bonus that you get while enjoying your pastime.”
The self-employed welder is living a peaceful life, enjoying outdoor activities like fishing, hunting, camping, and motocross biking.
The post Welder racks up over $69,000 from three back-to-back online casino wins appeared first on European Gaming Industry News.
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Skyesports Championship 2024: Counter-Strike 2 unveiled with $200,000 Prize Pool, Global Teams, and LAN in India.
Skyesports, a premier global IP builder for gaming and esports, has announced the return of its longest-running esports IP, the Skyesports Championship, for its sixth edition in 2024. The Counter-Strike 2 esports tournament in the Skyesports Championship 2024 will feature an impressive prize pool of $200,000.
Teams from around the world will converge in India for an intense on-ground event to compete for the prestigious title. The Skyesports Championship 2024: Counter-Strike 2 Main Event is set to happen from July 23 to 28 in India with eight teams competing for the title. Five of these will be directly invited while two will secure their slots through the Europe and India Qualifiers, respectively. The final slot is reserved for the champions of the previous Skyesports Counter-Strike 2 tournament, the Skyesports Masters 2024.
The list of teams is as follows:
● Aurora Gaming: Serbia (Skyesports Masters 2024 champions)
● Mongolz: Mongolia
● BetBoom: Russia
● Eternal Fire: Turkey
● Furia Esports: Brazil
● TBD (5th invited team will be announced at a later date)
● EU Qualifier Champion: TBD
● India Qualifier Champion: TBD
Commenting on the Skyesports Championship 2024 Counter-Strike 2, Shiva Nandy, Founder and CEO, Skyesports, said, “The Skyesports Championship has been our premium IP which was founded in 2018 as a regional esports tournament in Chennai. Now, after five continuous editions, the tournament is back for its sixth year and is bigger than ever featuring the top teams from around the world in the Counter-Strike 2 esports tournament. Due to unfortunate circumstances, we couldn’t host the Skyesports Masters as a LAN in India. This time, however,we are thrilled to bring some of the world’s most distinguished Counter-Strike 2 teams to the Skyesports Championship 2024 Main Event.
Details for the India and Europe Qualifiers will be announced soon. The Skyesports Championship 2024 is the third tournament in the Skyesports $1 million Counter-Strike 2 esports roadmap. Earlier this year, Skyesports successfully hosted the Skyesports Grand Slam in Pune, India, and the Skyesports Masters.
Furthermore, the Skyesports Championship 2024 is a multi-game esports IP. Besides the Counter-Strike 2 tournament, the IP will feature several other gaming titles catering to different gaming communities. These will be announced at a later date.
The post Skyesports Championship 2024: Counter-Strike 2 unveiled with $200,000 Prize Pool, Global Teams, and LAN in India. appeared first on European Gaming Industry News.
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