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Gaming Innovation Group completes SEK 100 million directed share issue

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Gaming Innovation Group Inc. (“GiG” or the “Company”) today announces that the Company successfully has completed a directed share issue of approximately SEK 100 million from several well-renowned, long-term institutional investors (the “Share Issue”).

Participants in the Share Issue also includes:

  • Jonas Warrer (CEO of GiG Media) and
  • Richard Carter (CEO of GiG’s Platform & Sportsbook).

The Company sees the Share Issue as an opportunity to broaden the shareholder base with high-quality investors, increase alignment among key executives and shareholders, as well as obtaining additional capital.

The Board of Directors of GiG has today resolved on an issue of 3,226,418 shares directed to certain new investors and existing shareholders. Participants in the Share Issue were i.e. Jonas Warrer (CEO of GiG Media), Richard Carter (CEO of GiG’s Platform & Sportsbook), Agerskov Kapital (investment vehicle for the founder of Traffic Lab), Knutsson Holding, Prioritet Finans, the Juroszek family and certain other well-renowned, long-term institutional investors investors.

The Share Issue is based on the general authorization to the Board of Directors under the 150,000,000 authorized shares, approved by the Special Meeting of Shareholders on 20 January 2022. The rationale for the Share Issue is to (i) broaden the shareholder base with new well-renowned investors (ii) increase alignment among key executives and shareholders, and (iii) obtain additional funding to secure working capital for the Platform & Sportsbook business prior to the planned split of the Company as well as general corporate purposes in a time- and cost-efficient manner.

The Company will receive approximately SEK 100 million (EUR 8.8 million) in gross proceeds from the Share Issue, before deduction of transaction costs. The subscription price has been set to SEK 31 per share as a result of negotiations on an arm’s length, which corresponds to a 1.3 percent discount compared to the closing price of the Company’s share on Nasdaq Stockholm today and equal to the average volume-weighted price of the Company’s share on the Nasdaq Stockholm over the past 10 trading days. GiG’s Board of Directors’ assessment is that the Share Issue was carried out on market terms.

“We have seen a lot of interest to increase the shareholding in GiG from existing investors and key executives, but also from new external parties. We are of course delighted that so many well-renowned investors share our view of growth opportunities going forward, and we are now better equipped to accelerate our growth both organically and through strategic acquisitions. Also, I am very pleased to see that our key executives are further aligning their interest with the shareholders’ by doing considerable investments themselves,” says the Chairman, Mikael Riese Harstad.

After the registration of the Share Issue, the total number of shares in the Company will amount to 134,406,520 shares. The Company’s share capital will increase with USD 3,226,418 to USD 134,406,520. The Share Issue will result in a dilution of approximately 2.4 percent of the number of shares in GiG.

ABG Sundal Collier acted as sole financial advisor and bookrunner in connection with the Share Issue. White & Case acted as legal counsel.

For further information, please contact:
Tore Formo, Group CFO, [email protected]

This information is information that Gaming Innovation Group Inc. (GiG) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact person set out above, at 21:30 CET on 4 June 2024.

 

The post Gaming Innovation Group completes SEK 100 million directed share issue appeared first on European Gaming Industry News.

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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SOFTSWISS Wins Double at MiGEA 2024

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SOFTSWISS, a global tech expert with over 15 years of experience in iGaming, won ‘Best Customer Service Support’ and ‘Best Crypto Service Provider’ at Malta’s Gaming Excellence Awards 2024.

Due to its location in Malta, which is home to a wide range of iGaming companies, Malta’s Gaming Excellence Awards has become an important industry event. It rewards companies and individuals who constantly innovate and improve the industry.

Best Crypto Service Provider

SOFTSWISS won the “Best Crypto Service Provider” award due to its Crypto Casino Solution’s comprehensive features, including player management, bonusing, gamification, and reporting. The platform supports major cryptocurrencies, including Bitcoin, Ethereum, Litecoin, Dogecoin, Tether, and others. It provides secure crypto processing, extensive crypto gambling consulting, and in-game currency conversion possibilities.

Best Customer Service Support

The ‘Best Customer Service Support’ award was granted to SOFTSWISS for its remarkable achievements in enhancing client services. In Q1 2024, Managed Service’s Anti-Fraud team helped SOFTSWISS clients save EUR 4.3 million. One of the innovative features implemented by Managed Services is a proprietary Responsible Gaming Risk Scoring Tool that detects gaming violations using ML algorithms.

SOFTSWISS’ customer support is key to improving user experience and spotting technical errors,  enhancing clients’ financial performance and providing robust fraud protection.

Vitali Matsukevich, Chief Operating Officer at SOFTSWISS, comments: “This recognition underscores SOFTSWISS’ commitment to delivering award-winning solutions and exceptional experiences to its partners. We are proud to be recognised by MiGEA as a leader in both crypto solutions and customer service. Our company would like to thank the organisers, judges, and partners for making this achievement possible.”

On 17–18 July, SOFTSWISS will participate in iGB L!VE in Amsterdam. Following the link, partners and potential clients can book a meeting with SOFTSWISS awards-winning teams at stand 12-F30 to explore its ecosystem of iGaming products and discuss partnership opportunities.

 

About SOFTSWISS

SOFTSWISS is an international technology company with over 15 years of experience in developing innovative solutions for the iGaming industry. SOFTSWISS holds a number of gaming licences and provides comprehensive software for managing iGaming projects. The company’s product portfolio includes the Online Casino Platform, the Game Aggregator with over 20,000 casino games, the Affilka affiliate platform, the Sportsbook software and the Jackpot Aggregator. In 2013, SOFTSWISS revolutionised the industry by introducing the world’s first Bitcoin-optimised online casino solution. The expert team, based in Malta, Poland, and Georgia, counts over 2,000 employees.

The post SOFTSWISS Wins Double at MiGEA 2024 appeared first on European Gaming Industry News.

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Blue Water Casino & Resort and Quick Custom Intelligence (QCI) Extend Partnership

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Quick Custom Intelligence (QCI), a leading enterprise solutions provider, announced an extension of their partnership with Blue Water Casino & Resort. Building on the success of the QCI Enterprise Platform, Blue Water will now incorporate the QCI Power Pack and its embedded A.I. to elevate guest satisfaction and bolster profitability.

Shelly Eddy, General Manager for Blue Water Resort and Casino, commented on the expanded relationship, stating, “QCI has been an invaluable tool for our Slot Development’s initiatives. It has empowered our team at various levels to take pointed action and truly use all of our resources, including our own time, to the best of our ability. We have been able to make large strides toward goals that previously seemed unrealistic for a team the size of ours, and with the impending Power Pack rollout, this will only get better.”

This partnership reinforces QCI’s commitment to providing cutting-edge tools and solutions for businesses in the casino and entertainment industry. Andrew Cardno, CTO of QCI, expressed his enthusiasm for the extended partnership. “We are deeply honored to continue our relationship with Blue Water Casino & Resort. Their forward-thinking approach and dedication to delivering exceptional guest experiences align perfectly with our mission at QCI. Together, we aim to set new benchmarks in the industry.”

The collaboration will focus on leveraging the power of data and analytics to anticipate guest preferences, streamline operations, and ultimately create memorable experiences for Blue Water’s patrons. The adoption of QCI Power Pack represents a significant step in harnessing the power of technology to achieve these goals.

 

The post Blue Water Casino & Resort and Quick Custom Intelligence (QCI) Extend Partnership appeared first on European Gaming Industry News.

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Red Bull Golden Letters returns: TEKKEN 8 pros to compete alongside new global Open Qualifiers

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  • Following TEKKEN 8’s recent launch, Red Bull Golden Letters returns for its third consecutive year at the Red Bull Gaming Sphere, September 28-29th 2024
  • For the first time, four open qualifier spots (NA, EU, JP, UK,) will be hosted, offering the global TEKKEN community a chance to play against some of the world’s best professionals
  • Hosted at London’s premier Gaming and Esports venue, the Red Bull Gaming Sphere will be transformed into an immersive golden bank vault, complete with resplendent design elements and ornate architecture.
  • Red Bull Players Hoa ‘Anakin’ Luu and Arslan “Arslan Ash” Siddique star in an expanded lineup of 16 invited professionals, with more set to be revealed
  • Gopuff joins as the Official Grocery & Snacks Delivery Provider for Red Bull Golden Letters
  • The two-day blockbuster finals will be broadcast live from the Red Bull Gaming Sphere in London on twitch.tv/redbull and https://www.youtube.com/c/redbullgaming.
  • Sign-ups to participate in the Red Bull Golden Letters Online Qualifiers are open now on start.gg

 

Following the highly anticipated TEKKEN 8 launch earlier this year, Red Bull Golden Letters is set to return for its third iteration to the Red Bull Gaming Sphere in London across two action-packed days, September 28-29th 2024. Building on the following year’s success, the tournament will see more world-class matchups and electrifying battles as TEKKEN players worldwide fight to be crowned Champion.

For the first time, the TEKKEN 8 tournament will feature four global qualifier rounds across North America, Europe, Japan, and the United Kingdom. Taking place between July and September 2024, the qualifiers will offer the Global TEKKEN community the chance to stake their claim among the very best as they battle some of the world’s top professionals.

The qualifiers will take place on the following dates:

  • North America (Online) – 10th July
  • Europe (Online) – 13th August
  • Japan (Offline) – 17th August
  • United Kingdom (Offline) – 7th September

 

This year’s Red Bull Golden Letters will be the first to be played on the newly released TEKKEN 8, unveiled earlier this year at Red Bull Pindrop, and will feature the return of its unique format. Putting players’ core fighting game skills to the ultimate test by encouraging perfect play and clutching under pressure, players can achieve ‘PERFECT’ and ‘GREAT’ scores, aka ‘The Golden Letters’, to win matches automatically.

Red Bull players Hoa ‘Anakin’ Luu and Arslan “Arslan Ash” Siddique will star alongside other top global pros, including Hasan “JoKa” Rehman, Lim “Ulsan” Soo-hoon, Alexandre “AK” Laverez, and “YUYU”, with more legendary players set to be revealed in the coming weeks.

Day one of the blockbuster Finals weekend will see an all-new 20-player group stage, with numerous matchups throughout the day, with some superb matches promised. The top 12 players will progress to day two’s Double Elimination, promising an intense and thrilling viewing experience for fans across the world. Day two will also reignite classic rivalries, with an East vs West battle before the Grand Finals, where players can settle old scores with adversaries.

The Red Bull Gaming Sphere will also be transformed into an immersive golden bank vault for this year’s iteration of Red Bull Golden Letters. Matchups will take place within the vault, which will be locked up until the winner is decided.

Last year’s Red Bull Golden Letters Champion, Jae-Min ‘Knee’ Bae, claimed the title after beating two-time EVO champion and fellow South Korean TEKKEN legend Hyunjin ‘JDCR’ Kim in a TEKKEN 7 masterclass with a landslide 6-0 victory.

Looking ahead to the tournament, Red Bull Player and TEKKEN legend Arslan “Arslan Ash” Siddique said: “It’s so good to see Red Bull Golden Letters returning for a third time. It’s become a real moment for the TEKKEN scene to look forward to every year, and new global qualifiers are great to give more opportunities and add even more wildcards to this competition. With the competitive scene still working out TEKKEN 8, the format adds such a great challenge for us, and is going to be so fun for fans to see play out – I can’t wait!”

Gopuff will continue its partnership with the Red Bull Gaming Sphere by joining as the Official Grocery and Snacks Delivery Partner for Red Bull Golden Letters, supplying competitors and talent with a range of everyday products in as little as 15 minutes.

Red Bull Golden Letters will be broadcast from the Red Bull Gaming Sphere in London and live on social media. For more information on Red Bull Golden Letters, including the Open Qualifiers, visit RedBull website.

 

The post Red Bull Golden Letters returns: TEKKEN 8 pros to compete alongside new global Open Qualifiers appeared first on European Gaming Industry News.

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