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Jumbo to Acquire Gatherwell for $9.1 Million

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7-6 Jumbo to Acquire Gatherwell for $9.1 MillionReading Time: < 1 minute

 

Jumbo Interactive has signed an agreement to acquire UK lottery company Gatherwell for $9.1 million. Jumbo will pay $5.4 million in cash on acquisition for the UK business, with further payments of $3.7 million payable if certain revenue and profit targets are met by Gatherwell.

Gatherwell was founded in Oxford in 2013 as a lottery company to support local causes and schools across the UK. The UK company currently has around 80 local authorities and 1000 schools as customers, spread across around 5000 causes and selling around 130,000 lottery tickets per week.

Jumbo founder and CEO Mike Veverka says the acquisition will accelerate the company’s expansion of its software as a service (SaaS) business in the UK.

“This is an important step in building the SaaS Powered By Jumbo business segment, and in achieving our vision of $1 billion of ticket sales through the Jumbo platform by 2022. The acquisition will have an immediate positive impact on our business through an increase in revenue and profits, as well as placing Jumbo in the best possible position to take advantage of the opportunities in the UK charity lotteries,” Veverka said.

“There is significant growth potential for Gatherwell based on their ‘first-mover’ competitive advantage, the industry growth of approximately 14 per cent, less than 1 per cent by value of the registered charities in the UK operate a lottery, and recent changes to the regulations. Jumbo can benefit by using Gatherwell to licence its Powered By Jumbo software and services to larger lotteries in the UK and possibly adapt the Gatherwell business model in other international markets such as Australia and Canada,” Veverka added.


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: Jumbo to Acquire Gatherwell for .1 Million

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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Olympic Summit Encourages International Sport Federations to Explore Esport Opportunities

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1-6 Olympic Summit Encourages International Sport Federations to Explore Esport OpportunitiesReading Time: < 1 minute

 

The Olympic Summit has suggested International Sport Federations to consider how to govern electronic forms of their sport and explore opportunities with game publishers.

Presented as one of eight themes at the 8th Olympic Summit in the Swiss city of Lausanne, the Summit explored what it call “great potential” for cooperation and incorporating esports into the sports movement, with many sports simulations becoming more physical due to the advancement of virtual and augmented reality.

The Summit was presented with a report from the Chair of the esports and gaming liaison group, International Cycling Union President David Lappartient with recommendations to promote Olympic sports and the Olympic values in esports and gaming.

The Summit agreed on a two-speed approach with International Federations urged to explore esport opportunities, suggesting that the sports movement should just focus on players and gamers rather than specific games, as this focus on individuals would promote the participation in sport and its benefits.


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: Olympic Summit Encourages International Sport Federations to Explore Esport Opportunities

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Microgaming’s Mega Moolah pays out seven-figure jackpot to UK player at Genesis Casino

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megamoolah Microgaming’s Mega Moolah pays out seven-figure jackpot to UK player at Genesis CasinoReading Time: 2 minutes

 

Microgaming’s world-renowned progressive slot Mega Moolah has paid out a staggering €3,252,353.70* (£2,772,916.45) jackpot at Genesis Casino.

A player in the UK, who wishes to remain anonymous, won the seven-figure prize on 8 November 2019 after placing a €7.25 (£6.25) bet.

The €3,252,353.70 payout was triggered at Genesis Casino, and as with all wins on Microgaming’s progressive jackpot network, the prize will be awarded as a lump sum and not in annuities.

Genesis Casino is operated by Genesis Global Ltd, which was founded in 2014 by a team of experienced and enthusiastic specialists, quickly arriving at the forefront of online entertainment by collaborating with skilled and passionate people.

Last month marked Mega Moolah’s 13th anniversary since the record-breaking game launched in 2006. So far in 2019, Microgaming’s progressive jackpot network has paid out over €121 million** across more than 1.7 million jackpots. Over 10 victorious winners took home either seven or eight-figure jackpots during the period, equating to more than €50 million in winnings, and over 570 players pocketed €10,000 or more.

* All progressive figures expressed herein are displayed in euros, using a standard currency conversion rate on the day of the win where applicable.

** Each win on the network is paid in the currency in which the winner played the game, and then converted to EUR at the time of the win or payout for the purpose of aggregating total payouts awarded.

“Congratulations to Genesis Casino and the lucky winner on this truly life-changing win. Mega Moolah has once again delivered an amazing payout. Our industry-leading progressive jackpot network has now paid out €1.1 billion and continues to lead the way, offering players thrilling and rewarding gameplay experiences.” – Andrew Clucas, Chief Operating Officer at Microgaming.

“We’re ecstatic for the player on their massive win on the Mega Moolah jackpot! It’s been a thrilling ride, but one lucky player had to strike – congratulations from everyone at Genesis Casino! We look forward to seeing many more winners on our platform.” – Ariel Reem, CEO at Genesis Casino.


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: Microgaming’s Mega Moolah pays out seven-figure jackpot to UK player at Genesis Casino

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Videoslots awarded full five-year Swedish licence following appeal

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videoslots-swedish-license Videoslots awarded full five-year Swedish licence following appealReading Time: < 1 minute

 

Leading online casino Videoslots.com has received a significant regulatory boost with the Swedish Gaming Authority (Spelinspektionen) accepting its Swedish licence will be valid until 2023.

The operator was originally awarded a two-year licence in December last year and appealed this decision. Having won the appeal means it can continue to offer its portfolio of regulated offerings to players in the growing market.

It comes as a further boost to Videoslots’ growth within Europe having previously been awarded a licence in Italy, Denmark, Malta, Spain and the United Kingdom.

Alexander Stevendahl, CEO at Videoslots.com, said: “Videoslots is firmly committed to keeping gambling both safe and fun and this has been recognised with the full five-year period of our Swedish licence.

“Player safety across all our markets is always our priority and this news is very welcome due to the growth we are seeing in the Swedish market’’


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: Videoslots awarded full five-year Swedish licence following appeal

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