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Callidus Capital Announces Agreement to Sell Bluberi Gaming Canada Inc. to Catalyst Funds and New Date For Shareholders Meeting

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Callidus Capital Announces Agreement to Sell Bluberi Gaming Canada Inc. to Catalyst Funds and New Date For Shareholders MeetingReading 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


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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

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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POKERSTARS GALACTIC SERIES PAYS OUT MORE THAN €8 MILLION TO FRENCH, SPANISH AND PORTUGUESE PLAYERS

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Series and Main Event both exceed their guarantees

PokerStars’ has once again smashed expectations in Southern Europe, with the Galactic Series, one of its most popular series for players in France, Spain and Portugal, generating an €8 million prize pool, over €1 million above the guarantee. The prize pool was shared out across 261 events and more than 343,000 entries. The highlight of the series was the Main Event that paid out €365,025 to players across the three weeks.

GALACTIC STAR BATTLES FOR SILVER AND GOLD PRIZES

Throughout the series, players had the chance to get their hands on additional Silver and Gold Passes by opting-in to the Galactic Stars Battle. Players opted in for a PokerStars Ambassador, and all those who chose to support the leading Ambassador each week being entered into a freeroll to win a Silver Power Pass.

In Spain, captains ‘WilloelPillo’ and ‘and1ero’ saw a similar pattern. Willo was victorious in weeks one and three with 327,805 and 250,763 points respectively while Álex ‘and1ero’ Romero took the advantage in week two with 318,631 points and Esteban ‘estiwinho’ Pascual couldn’t reach the top spot in any week.

Silver and Gold Passes can be redeemed as entries to a range of PokerStars Live events throughout the year, including marquee stops at the European Poker Tour (EPT) and the PokerStars Open, which debuted this year and have provided players across Europe with world class poker at accessible price points with lively, grassroots-style atmosphere and entertainment. Closing out the season, EPT Prague starts December 3 and runs until December 14, and will be followed by PokerStars Open Cannes on December 16. Players with Gold or Silver Passes can redeem them for entries at both of these events.

“Once again, we’ve seen players from all over France, Spain and Portugal come together to enjoy the Galactic Series”, said Sandro Forleo, Head of Poker Operations for Southern Europe and Italy at PokerStars. “Our Mega Mystery events, where bounties can be won as soon as late reg closes, proved especially popular and continued to offer something new and enjoyable to players at all experience levels.”

 

The post POKERSTARS GALACTIC SERIES PAYS OUT MORE THAN €8 MILLION TO FRENCH, SPANISH AND PORTUGUESE PLAYERS appeared first on European Gaming Industry News.

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The eSports World Tournament FIFAe World Cup 2025™ Kicks-Off in Riyadh, Saudi Arabia on December 10!

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Commemorating the start of the tournament, a new in-game update arrives and fans can take part in a campaign launching today in eFootball

Konami Digital Entertainment B.V. (Konami) announces the FIFAe World Cup 2025 featuring eFootball. Kicking off on December 10th in Riyadh, Saudi Arabia, the official eSports tournament is hosted by FIFA® for a live audience and live streamed worldwide. This year marks the second edition of the tournament where a record of 90 countries and regions participated in the preliminaries totalling 16.51 million participants.

eFootball official website: konami.com/efootball…

FIFAe World Cup 2025 is an official eSports world championship co-hosted by Konami Digital Entertainment Co., Ltd. and the Fédération Internationale de Football Association (FIFA®). This year 12 national representatives emerged victorious from regional qualifiers and will now compete in the console and mobile divisions for the tournament’s highest honours and be crowned champions.

For the console division, it will be held in a 2v2 format with players participating in teams of three whereas the mobile division will be a 1v1 format. Both divisions will feature players from 12 different countries where they compete through a group stage and knockout stage before battling it out in the finals.

To celebrate the start of the tournament, users can participate in an eFootball campaign and can obtain free special items. Logging in during the campaign period rewards users with different items.

Additionally, users also receive one player item each day from a curated special player list. Users can also take on a Squad Challenge Event where clearing challenges with specific rules will reward them with various items. The campaign period is from December 4th – December 18th.

Coinciding with this campaign, a new game update has been implemented to adjust game balance and adds various features and gameplay elements to enhance the experience. A new particular feature analyses in-game player tendencies and adds an “Advice” feature where players and coaches provide feedback in real-time that could serve as a catalyst for improvements in tactics.

Another feature is the “Analysis” which aggregates and analyses the results of each user’s last 10 PvP matches and visualises their playstyle via comparison graphs and data against opposition from Division 1 – Division 4 users.

Also being introduced to this update is Ronald Koeman receiving the “Link-up Play” feature. Ronald Koeman possesses the “Aggressive Centring A” Link-Up where the “Centrepiece” is in possession of the ball, the “Key Man” will actively make runs towards goal from crosses. Activating this Link-Up increases the accuracy for high and low crosses as well as direct shots from those passes from the “Centrepiece” to the “Key Man”. Legendary player items such as “Epic: David Beckham” and “Epic: Jan Koller” meet the activation conditions and are now available in-game from December 4th – December 11th.

Other features and improvements include:

  • “Auto Control” which allows the AI to take control when the user is not actively playing. • Adjustments in speed and acceleration for defenders by reducing the extreme disparities against speedy players.
  • Acceleration during latter periods of a match with decreased stamina has also been fine tuned to allow players with decreased stamina to maintain their reaction speed even with a reduced stamina.
  • Alterations to the “Defensive Awareness” parameter where defenders with high “Defensive Awareness” can now keep up with opponents more effectively even if their acceleration stat is lower.

Access the viewing page from ‘eFootball’ and watch the broadcasts for the Console Division and Mobile Division to earn up to 2,500eFootball points.

Day 1-3

  • Console / Mobile
  • Viewing Reward: 500 eFootball Points

Day 4 Final

  • Console:
  • Viewing Reward: 1,000 eFootball Points
  • Mobile:
  • Viewing Reward: 1,000 eFootball Points

 

The post The eSports World Tournament FIFAe World Cup 2025™ Kicks-Off in Riyadh, Saudi Arabia on December 10! appeared first on European Gaming Industry News.

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S8UL launches India’s first-ever FGC Talent Hunt Program to discover the next stars in Tekken 8 and Street Fighter 6

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A total of six players will be selected for the six-month program, running from January to June 2026, following the finals of the talent hunt

Selected athletes will receive professional coaching, fully funded participation in Tier-1 international tournaments, complete travel support, a monthly stipend, and integration into S8UL’s content ecosystem

Mumbai, December 4, 2025: S8UL, a global powerhouse in esports and gaming content, has announced a landmark initiative for India’s fighting game community (FGC) with the launch of a first-of-its-kind Talent Hunt Program for Tekken 8 and Street Fighter 6. Running from January to June 2026, the six-month program aims to identify and develop India’s next breakthrough fighting-game athletes through a structured, high-performance ecosystem and position the country prominently on the global FGC map.

Unlike traditional talent hunts, S8UL’s initiative is designed as a development pipeline, focusing on long-term athlete growth rather than one-off competition. From a wide pool of participants across the nation, a total of six players, including two for Tekken 8 and four for Street Fighter 6, will be scouted and selected solely based on their performance in the nationwide qualifiers and finals.

Selected players will receive one of the most comprehensive support structures ever provided in India’s competitive FGC space, including:

  • A dedicated professional coach for each game throughout the six-month program
  • Fully-funded participation in a minimum of three international Tier-1 tournaments
  • Comprehensive travel support covering flights, accommodation, meals, local transport, and tournament registration
  • A monthly stipend to ensure athletes can focus entirely on training and performance
  • Integration into S8UL’s industry-leading content ecosystem, offering visibility, narrative-building, and community reach to both the players and the fighting game titles

Speaking about the program, Animesh Agarwal, Co-founder and CEO, S8UL Esports, said, “India’s fighting game community has shown tremendous potential but players have rarely had access to a structured environment that supports long-term growth. Through this Talent Hunt Program, we want to change that by giving selected athletes professional coaching, international tournament experience, and the day-to-day support they need to improve. This is not just a short-term project for us—it’s the beginning of a sustained effort to help build a strong foundation for fighting games in India and give our players a fair chance to compete on the world stage”

S8UL today stands as the only Indian esports organization competing across nine leading titles, and it has begun establishing a strong foothold in fighting games as well. After becoming the first Indian team selected for the Esports World Cup’s Club Partner Program, S8UL competed in qualifiers for titles such as Fatal Fury and Tekken 8, underscoring its long-term commitment to the FGC ecosystem.

S8UL’s state-of-the-art gaming house is one of India’s most advanced training and content facilities built to global esports standards. The setup includes structured training schedules, dedicated practice zones, content studios, analytics support, and a high-performance environment that drives discipline and growth. For the FGC Talent Hunt athletes, this access will be transformative. They will train like professional competitors while also learning to build their personal brands through content, storytelling, and community engagement, preparing them to become both top-tier players and future esports personalities.

With fighting games gaining momentum worldwide through major events such as EVO, the Esports World Cup, and the Asian Games, S8UL’s initiative arrives at a crucial moment for the Indian esports ecosystem. The Talent Hunt Program is poised to play an important role in positioning India as a rising force in the global FGC landscape.

Players interested in participating can register here – start.gg/tournament/s8ul-gauntlet/details?utm_source=ig&utm_medium=social&utm_content=link_in_bio&fbclid=PAdGRleAOeRm5leHRuA2FlbQIxMQBzcnRjBmFwcF9pZA8xMjQwMjQ1NzQyODc0MTQAAacpQXYhiJrLqlKmzwd17yHb8kmDHaXK8HAYTh5ltYtSyZqF5OSnaP6oHxgrtw_aem_ps-_uz-8aMSR5Nqa3IgPjA

The post S8UL launches India’s first-ever FGC Talent Hunt Program to discover the next stars in Tekken 8 and Street Fighter 6 appeared first on European Gaming Industry News.

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