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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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Levy announcement: GamCare statement and data

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Statement:

Mark Weiss, Deputy CEO and Director of Communications and External Affairs at GamCare, commented: “We welcome today’s announcement from the Government on the statutory levy and look forward to working with the NHS, other providers and future commissioners to ensure the success of the new treatment, prevention and research system.

“At GamCare, our priority is making sure that people who need support for gambling harms receive it as quickly and effectively as possible. With a record 55,000 people calling the National Gambling Helpline last year alone, now is the right time for this important clarity on the future system.

“With 27 years’ experience running the National Gambling Helpline, GamCare plays a vital role ensuring people can access gambling harms support when they need it most.

“Just as we welcome this renewed focus on treatment, we recognise the importance of protecting vulnerable people, particularly children, before harms escalate. That’s why we welcome the Government’s emphasis on prevention. Having witnessed a steep rise in our Helpline callers citing difficulties with online slots, GamCare further welcomes the introduction of new youth-focussed stake limits – an important step in preventing future harm.”

Additional new data from GamCare

  • Almost half of calls (45%) to the National Gambling Helpline now cite issues with online slot machine games.
  • The proportion of calls to the National Gambling Helpline citing issues with online slot machine games has increased by one-third since the pandemic, according to the gambling support charity GamCare.
  • The charity found that, of the 6697 callers who disclosed a form of gambling to Advisers on the Helpline in 2023-2024*, 45 per cent cited challenges with gambling on online slot games, a figure which stood at 34 per cent in 2020-2021.

 

Activity 2020-2021 2021-2022 2022-2023 2023-2024
Online Slots 33.6% 45.8% 43.9% 44.6%

 

The post Levy announcement: GamCare statement and data appeared first on European Gaming Industry News.

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Play’n GO announces exclusive game launch with Hard Rock Bet

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Play’n GO, the world’s leading casino entertainment provider, has today announced the release of a new game title available exclusively to Hard Rock Bet online casino players in New Jersey.

Play’n GO recently announced the beginning of its partnership with Hard Rock Digital to provide premium content for its highly-rated Hard Rock Bet online casino in New Jersey.   

The Swedish-founded gaming giant partnered up with the renowned global entertainment brand to create Hard Rock Pork N Roll, a spin-off of another wildly popular Play’n GO title, Piggy Blitz. The resulting game is the outcome of many months of collaboration and is predicted to entertain Hard Rock Bet players in the same style as its predecessor.  

Magnus Olsson, Chief Commercial Officer at Play’n GO, commented “Our formal partnership with Hard Rock Digital is still in its relative infancy, but many months of work have gone into both the partnership itself and the design of this game, with input from both businesses. We’re excited by this new exclusive title, and it is a testament to the innovation and creativity of our game designers to create a fun spin-off of one of our classic titles. Hard Rock Pork N Roll is sure to be a huge success- the name of the game alone makes it stand out as an instant classic! This game is evidence of our ability to create top-quality, bespoke content for all of our customers, something we’re looking forward to doing more of in future.” 

Grant Williams, SVP-Casino, Hard Rock Digital added “Our ‘Only at Hard Rock’ section continues to grow with another exclusive, bespoke experience and the addition of Hard Rock Pork N Roll—an immersive title that seamlessly weaves signature Hard Rock elements into the gameplay. Working with Play’n Go on this custom creation has set the standard for future collaboration, and we’re confident that Hard Rock Pork N Roll will quickly become a headliner among the 2,300+ games on our top-rated app.” 

To find out more about Play’n GO and its Hard Rock Digital partnership, as well as its US activity, please visit playngo.com 

 

The post Play’n GO announces exclusive game launch with Hard Rock Bet appeared first on European Gaming Industry News.

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Stretch Network announces Black Friday Weekend Tournament

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Black Friday Weekend is here! Stretch Network introduces another player-focused initiative – the Black Friday Weekend promotion. Running from November 29th to December 1st, this event offers up to 90% discounts on buy-ins for the World Poker League tournament series.

Here’s how it works:

  • Players register for special phase tournaments at a reduced cost.
  • These 2-minute events don’t require player actions and provide the same starting stack as the target tournament.
  • After the phase tournament ends, players are automatically registered for the main event.
  • Players already in the target tournament will have their stacks combined for added excitement.

Raise with us to go all-in on player satisfaction.

The post Stretch Network announces Black Friday Weekend Tournament appeared first on European Gaming Industry News.

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