Latest News
Callidus Capital Announces Agreement to Sell Bluberi Gaming Canada Inc. to Catalyst Funds and New Date For Shareholders Meeting
Reading Time: 4 minutes
Callidus Capital Corporation today announced that it has entered into an agreement with certain investment funds managed by The Catalyst Capital Group Inc. to sell the shares of Bluberi Gaming Canada Inc. owned by Callidus and to assign the debt owing by Bluberi to Callidus and its subsidiary to the Catalyst Funds. The purchase price to be paid by the Catalyst Funds for the shares is $92.7 million, and for the Bluberi Debt is the amount of that debt outstanding on closing.
The purchase price will be satisfied by setting off $92.7 million of the indebtedness of Callidus owing to the Catalyst Funds under Callidus’ subordinated bridge facility and by the Catalyst Funds assuming a portion of the indebtedness owing by Callidus to the lenders under the Company’s collateralized loan agreement equal to the amount of the Bluberi Debt on the Closing Date.
Callidus’ board of directors (the “Board”), having received the unanimous recommendation of the special committee of independent directors of the Board (the “Special Committee”), has unanimously determined (with the Board members nominated by the Catalyst Funds abstaining) that the Bluberi Transaction is in the best interests of the Corporation and that the consideration under the Bluberi Transaction is fair to the shareholders other than the Catalyst Funds and their related parties (the “Minority Shareholders”), and unanimously recommends (with the Board members nominated by the Catalyst Funds abstaining) that the Minority Shareholders vote FOR the Bluberi Transaction.
BDO Canada LLP was retained by the Special Committee to prepare a valuation and fairness opinion, which concluded that as of the date of the opinion, and subject to the assumptions, limitations and qualifications contained therein, the fair market value of the Bluberi shares is between $84.5 million and $100.9 million and that the consideration to be received by Callidus pursuant to the Bluberi Transaction is fair from a financial point of view to the Minority Shareholders. The purchase price for the shares of Bluberi of $92.7 million is the mid-point of the valuation range.
In order to enable shareholders to consider the Bluberi Transaction, Callidus’ shareholders meeting previously scheduled for June 26, 2019 will now be held on July 2, 2019. Callidus and the Catalyst Funds anticipate that, if approved by Minority Shareholders, the Bluberi Transaction will be completed shortly after the shareholders meeting.
Callidus acquired control of Bluberi in February 2017 pursuant to a formal restructuring proceeding in Quebec. Bluberi is a Drummondville, Quebec-based gaming company that specializes in the development of casino games that are installed in electronic gaming machines and leased or sold to a variety of licensed casinos and gaming establishments.
Callidus first approached the Catalyst Funds regarding a potential transfer of Bluberi in March 2019 as a result of regulatory challenges associated with Callidus’ ownership of Bluberi. In particular, regulators in Maryland and certain other states and provinces in which Bluberi operates and intends to operate in the future require extensive disclosure relating to significant shareholders of Callidus on the basis that they are presumed to have influence on the operations of Bluberi.
Callidus understands that Braslyn Ltd. is the holder of approximately 14.5% of the outstanding common shares of the Company and that Braslyn, as a matter of general policy, does not make regulatory filings that might subject it to legal obligations in jurisdictions in which it does not operate.
In the absence of such disclosure by Braslyn, Bluberi is not able to comply with state licensing disclosure requirements or to submit new licensing applications in Maryland and certain other states and provinces. An inability to comply with these requirements limits Bluberi’s current business and growth plans, and negatively impacts Bluberi’s value, operating results and cash flows.
The BDO valuation and fairness opinion assumes that these regulatory requirements will no longer be applicable after June 30, 2019. As the purchase price for the Bluberi shares is equal to the mid-point of BDO’s valuation range, the Special Committee believes that the Bluberi Transaction will allow Callidus to get full value for Bluberi as if the regulatory issues were resolved. In addition to resolving the regulatory issues, the Bluberi Transaction will enable the Company to significantly reduce its debt and focus on its core lending business.
The Catalyst Funds and their affiliates currently own approximately 72.2% of the Company’s common shares. As a result, the Bluberi Transaction is a “related party transaction” and must be approved by a majority of the votes cast at a meeting of shareholders by Minority Shareholders.
Completion of the Bluberi Transaction is subject to certain closing conditions including obtaining third party consents. In the event any required consents in connection with the assignment of the Bluberi Debt are not obtained, the sale of the shares of Bluberi will proceed but the Bluberi Debt will not be assigned and amendments will be made to the loan agreement including to provide for guarantees of the Bluberi Debt by the Catalyst Funds.
The Bluberi Agreement also includes provisions permitting Callidus to solicit other proposals for the acquisition of Bluberi at any time until Minority Shareholders have approved the Bluberi Transaction, and to terminate the Bluberi Agreement if the Corporation accepts a superior proposal or changes its recommendation subject to payment of a termination fee to the Catalyst Funds of $4.64 million. Callidus is also entitled to participate in any after-tax appreciation in value received by the Catalyst Funds if they enter into an agreement to sell Bluberi within six months of closing and that sale is completed within nine months of closing.
About Callidus Capital Corporation:
Established in 2003, Callidus Capital Corporation is a Canadian company that specializes in innovative and creative financing solutions for companies that are unable to obtain adequate financing from conventional lending institutions. Unlike conventional lending institutions who demand a long list of covenants and make credit decisions based on cash flow and projections, Callidus credit facilities have few, if any, covenants and are based on the value of the borrower’s assets, its enterprise value and borrowing needs. Further information is available on our website, www.calliduscapital.ca.
Source: Callidus Capital Corporation
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: Callidus Capital Announces Agreement to Sell Bluberi Gaming Canada Inc. to Catalyst Funds and New Date For Shareholders Meeting
7777 gaming is proud to announce that it has successfully obtained the required certification to offer its iGaming content in Italy, marking a significant step forward in the company’s continued expansion across regulated European markets.
This milestone underlines 7777 gaming’s strategic vision of building a global presence through compliance, innovation, and strong partnerships. The Italian market, known for its mature regulatory framework and discerning player base, presents an ideal environment for the company’s next-generation games to thrive.
“Italy is an essential milestone in our international roadmap. With certification secured and partnerships already signed with well-established local companies, we’re bringing our fresh and distinctive portfolio to one of Europe’s most mature gaming markets,” said Elena Shaterova, Chief Commercial Officer at 7777 gaming. “We’re excited to build on these strong collaborations and deliver gaming experiences that truly stand out.”
The certified game package for the Italian market showcases 7777 gaming’s signature diversity in format, theme, and gameplay innovation. It includes a robust lineup of slot games, such as Crazy 100 Bucks, Cash 100, Thracian Treasures, and Vault Looter – titles built to deliver consistent performance and broad appeal. The portfolio also features instant win games like Sea of Treasures and Bloody Stakes & Riches, offering fast-paced mechanics. Additionally, 7777 gaming introduces its distinctive “Innovative” – a category reserved for titles that push creative and technical boundaries. Among them, Devil’s Deal Soul for Sale stands out with its unique storytelling, visual style, and experimental gameplay, reflecting the company’s bold approach to modern iGaming entertainment.
All games are designed with a strong focus on player engagement, featuring popular functionalities such as multipliers, bonus rounds, free spins, gamble features, expanding reels, and buy bonus options.
With this new certification, Italy becomes the 14th consecutive market in 7777 gaming’s global expansion. Over the past three years, the company has extended its reach worldwide, establishing a presence across diverse regions and regulated markets. Since the beginning of 2025 alone, 7777 gaming has secured entry into Peru, Brazil, Colombia, Croatia, and Italy underlining its commitment to growth and trusted partnerships. The team remains dedicated to bringing high-performing, regulation-ready content that resonates with players and operators everywhere.
About 7777 gaming:
7777 gaming is an innovative and data-driven B2B igaming provider, founded in 2020 with the mission to revolutionize and challenge the status quo in the industry by offering 360-degree platform, state-of-the-art online casino games, iLottery, Jackpot, and marketing solutions, draw-based games, scratch cards, and much more.
The product is built by a dedicated team of visionaries with over 20 years of experience. The games and the RNG are tested and compliant in several highly regulated jurisdictions worldwide. Besides, the company achieved and maintained ISO 27001 certification. 7777 gaming holds a gambling license in Bulgaria and Romania and an MGA Certificate to provide its online casino games to these markets.
7777 gaming is already partnering with the leading aggregators and platform providers in the igaming industry.
Contact us:
https://www.7777gaming.com
Social Media:
The post 7777 gaming gains certification for Italian iGaming market appeared first on European Gaming Industry News.
The iGaming industry got a taste of heavyweight ambition at iGB L!VE London 2025, where GR8 Tech unveiled its Heavyweight Club—an exclusive community that takes domination in iGaming markets as seriously as world champion Oleksandr Usyk takes defending his undisputed heavyweight title.
“iGB L!VE London was the ignition point for the Heavyweight Club. We showcased top-tier tech and connected with operators ready to lead, scale, and dominate. The energy, the conversations, the demand for real performance confirmed what we’ve always believed: the iGaming industry is hungry for heavyweight solutions and GR8 Tech is here to deliver,” said Sergey Ghazaryan, GR8 Tech’s CRO.
Industry Response Points to Market Appetite
With increased competition making differentiation more challenging, speed-to-market pressure intensifying as new markets emerge, and technology debt from legacy systems hindering operators’ growth, the industry is at a critical juncture. In 110 meetings with the sales team and over 65 conducted demos, operator feedback consistently centered on these exact challenges.
This shift is evident across the ecosystem. Mariia Shmelova, CEO of Aff.Tech—GR8 Tech’s proprietary affiliate management platform—observed similar patterns: “One major trend is the demand for greater transparency and performance accountability. Operators want to see exactly what’s driving traffic, conversions, and ROI. That’s why we’ve been doubling down on data—not just analytics, but actionable insights that affiliates and operators can use in real time. We’re also seeing growing interest in multi-geo, multi-brand campaigns, and our platform is built to support those kinds of complex setups with ease. Flexibility, automation, and smart integrations are the future.”
The conversations revealed a clear understanding: champion ambitions require champion tools. Operators emphasized the need for high-performance solutions that deliver geo-specificity for local market domination and margin mastery that turns competitive pressure into profit advantage. The response highlighted how operators are seeking partners who understand that every champion needs exactly the right tools for their specific fight.
GR8 Tech’s approach resonated because it addresses this reality with three key solutions designed for different use scenarios:
- Hyper Turnkey, which delivers fully managed casino and sportsbook operations that scale with ambition;
- ULTIM8 Sportsbook iFrame with its lightning-fast integration and market-specific customization capabilities;
- Infinite Casino Aggregation, offering premium gaming experiences with an operator-first flexibility.
This comprehensive approach ensures every operator gets precisely what they need to overcome their unique market challenges and achieve championship-level performance.
Heavyweight Club Momentum Builds Toward Next Championship Round
The “Fight for Greatness” collection drew significant attention on the show floor. Attendees’ enthusiasm for the showcased apparel and accessories, paired with strong performance of the online store, confirmed that the Heavyweight Club resonates far beyond technology—it’s a mindset people want to embody and a philosophy they want to wear.
GR8 Tech’s AR experience featuring Oleksandr Usyk became a magnet for attendees, with over 80 participants stepping into the champion’s world in one of the most memorable activations on the show floor. Winners of the AR experience didn’t just walk away with impressive pictures—they earned tickets to witness Usyk defend his undisputed heavyweight title against Daniel Dubois this July.
Just as Usyk will defend his title at Wembley, the Heavyweight Club will continue its championship journey beyond iGB L!VE. The next epic edition awaits at SBC Summit in September, where the movement will expand with new challenges and opportunities for operators ready to dominate their markets.
Ready to fight for greatness? Connect with GR8 Tech and step into the ring.
GR8 Tech. Platform for Champions
GR8 Tech is an award-winning provider, delivering high-performance sportsbook and iGaming solutions that empower operators to lead and win in competitive markets. Key elements of GR8 Tech’s comprehensive portfolio include the Hyper Turnkey solution, ULTIM8 Sportsbook iFrame, Infinite Casino Aggregation, and Platform Acceler8 suite, featuring its proprietary affiliate management platform, Aff.Tech.
With a geo-specific approach to solutions, a focus on practical innovations, and an operator-first mindset, GR8 Tech helps its clients achieve measurable results in their target markets quickly and efficiently. Trusted by top operators worldwide, GR8 Tech has over 100 successful cases and earned multiple recognitions, including the title of the Best Sports Betting Provider in CEE by GamingTECH Awards 2025.
The post Heavyweight Club by GR8 Tech Signals New Era of Operator Ambition at iGB L!VE appeared first on European Gaming Industry News.
FBMDS proudly announces the upcoming launch of Piñata Rush, the newest entry in the Momentum Series of crash games. Built with multiplayer engagement in mind and backed by seamless cross-platform performance, Piñata Rush is set to become a standout experience in the evolving crash category. Designed for operators seeking flexible, feature-rich crash content, Piñata Rush combines classic single-multiplier crash mechanics with innovative social elements and refined gameplay systems.
Unlike traditional crash games, Piñata Rush introduces Bet Rankings, a real-time leaderboard mechanic that highlights player bets and cashouts during each round. This dynamic layer fosters social competitiveness and increases player visibility — two key factors in improving session depth and repeat play.
With the ability to place up to two simultaneous bets per round, configurable Auto Cashout, and both manual and automatic betting options, Piñata Rush offers players tactical freedom and operators a new way to appeal to diverse user profiles.
Key Product Highlights:
- Multiplayer crash format with shared rounds and real-time Bet Rankings
- Configurable maximum multiplier from 100x to 1000x
- Manual and Auto-Bet functionality
- Auto Cashout starting from 1.01x for strategic control
- Support for dual betting in every round
- Optimized for Desktop, Tablet & Mobile
- RTP: 97.06%
Operators also benefit from a built-in Tournament Tool, allowing regionally tailored competitions with multilingual support, flexible prize types, and custom campaign configuration. Combined with in-game history tracking, streamlined settings, and full visual customization options, Piñata Rush is engineered to drive engagement while offering operational versatility. As part of FBMDS’ growing Momentum Series, which also includes Magical Garden and Arctic Jumper, Piñata Rush continues the brand’s commitment to delivering high-performing, modular crash content designed for today’s dynamic player profiles in emerging markets.
The post FBMDS introduces Piñata Rush – A Thrilling Twist on Crash Gaming Innovation appeared first on European Gaming Industry News.
7777 gaming gains certification for Italian iGaming market
Heavyweight Club by GR8 Tech Signals New Era of Operator Ambition at iGB L!VE
FBMDS introduces Piñata Rush – A Thrilling Twist on Crash Gaming Innovation
Successful Premiere of Portside Game Assembly: the Indie Conference on the Water Returns in June 2026
Booming Games Goes Live on Ivy Casino, Strengthening UK Market Presence
Kambi Group plc and LeoVegas Group sign Turnkey Sportsbook extension and new Odds Feed+ agreement
Slots Temple Goes Live with NetGaming to Expand Games Portfolio
Nolimit City braces for another invasion in Brute Force: Alien Onslaught
SpinQuest Joins Forces with ICONIC21 in High-Impact Partnership
SOFTSWISS Introduces Paid Participation Campaigns to Enhance Player Engagement
-
Latest News3 months agoExclusive Q&A With Bar Konson, Chief Business Development Officer at NuxGame
-
Latest News2 months agoWeek 17/2025 slot games releases
-
Latest News2 months agoFortuna Partners with 2025 UEFA Under-21 EURO
-
Latest News3 months ago
Esports World Cup Foundation Confirms Full Game Lineup, Schedule, and Club Championship Rules for EWC 2025
-
Latest News2 months agoELA Games Receives Key Nomination at EGR Marketing & Innovation Awards
-
Latest News3 months ago
ACR POKER’S NEXT HIGH STAKES ADVENTURE TAKES PLAYERS TO MONTENEGRO FOR PRESTIGIOUS SUPER HIGH ROLLER SERIES
-
Latest News2 months agoBojoko.com Surpasses €100 Million in All-Time Deposits Milestone
-
Latest News2 months agoLeoVegas Group to Open a New Office in Leeds
You must be logged in to post a comment Login