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Esports Entertainment Group Announces Sale of the Bethard Business and Amendment to Senior Convertible Note

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Esports Entertainment Group announced that it has entered into a share purchase agreement (Purchase Agreement) dated February 14, 2023 to sell its Bethard iGaming business, an operator of online casino and sportsbook brands that is licensed in Malta and Sweden.

The total purchase consideration in the Purchase Agreement was determined by the parties to be approximately €9.5 million comprising €1.65 million of cash proceeds payable to the Company at closing, with an additional €6.5 million of purchase consideration attributed to the Company’s release from payment of its contingent consideration liability from the Bethard acquisition. The purchaser of the Bethard business will also assume liabilities of approximately €1.2 million. The terms of sale allow for a cash holdback of €0.15 million which may be retained by the purchaser should liabilities exceed agreed upon amounts in the Purchase Agreement. The sale of the Bethard business is expected to close during the two-week period following the signing of the Purchase Agreement, subject to customary closing conditions.

The Company entered into an Amendment and Waiver Agreement on February 16, 2023 as a condition to the closing of the sale of the Bethard business. The Amendment requires the Company to deposit 50% of the proceeds from the sale of the Bethard business in a bank account in favor of the holder (the Debt Holder) of its Senior Convertible Note, dated February 22, 2022. The Amendment also requires the Company to deposit 50% of the proceeds of any permitted future sale of assets or any subsequent debt or equity offer or sale (a Securities Transaction) and 100% of the proceeds of any additional indebtedness incurred in the future, into such bank account in favor of the Debt Holder, or, at the option of the Debt Holder, redeem amounts under the Senior Convertible Note using such proceeds.

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Alex Igelman, CEO of Esports Entertainment Group, said: “I am very pleased at the work that is being undertaken to reduce debt and focus on our core iGaming and esports assets. We remain committed to building a world-class esports gambling operation that is global in reach and that provides esports content and strategic services to those involved in esports gambling, as well as those seeking to enter the market. I am extremely encouraged and pleased with the speed and efficiency in which senior management effectuated these important actions.”

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SOFTSWISS Game Aggregator Triumphs at AffPapa iGaming Awards 2024

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SOFTSWISS, a global tech company with over 15 years of experience in iGaming, celebrates its success at the AffPapa iGaming Awards 2024 in the Aggregator of the Year category. 

The AffPapa iGaming Awards acknowledge the industry’s top affiliates, operators, and B2B providers for setting new standards of excellence. Due to its innovative approach and extensive game catalogue, the SOFTSWISS Game Aggregator earned its honourable place among industry leaders. 

Last year, the award-winning product received recognition at the prestigious EGR B2B Awards and SiGMA Europe Awards. These achievements align seamlessly with the findings of the Kantar marketing survey, which revealed that 93% of current SOFTSWISS Game Aggregator clients are satisfied with the product.

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In 2024, the SOFTSWISS Game Aggregator achieved a significant milestone by handling over €13 billion in bets monthly. A remarkable surge of almost a third over the past six months highlights the product’s general adoption and expanding popularity. Over 1,000 brands worldwide rely on its expertise and functionality.

At the moment, the SOFTSWISS Game Aggregator’s vast game portfolio exceeds 20,000 unique games, with 3,500 new ones added in 2024, solidifying its position as a recognised industry leader. The number of providers surpassed 260 distinct partners. 

Tatyana Kaminskaya, Head of SOFTSWISS Game Aggregator, expresses her delight about the achievement: “This prominent win is a testament to SOFTSWISS’ outstanding contributions to the industry. By seamlessly connecting operators with top-tier game providers, our Game Aggregator has not only streamlined the gaming experience but also facilitated access to a diverse range of content for players worldwide. The team is grateful to our clients and partners for their trust, which fuels our commitment to excellence and innovation in the iGaming sphere.”

In pursuit of heightened client satisfaction, SOFTSWISS has introduced cross-product integrations, seamlessly connecting the Game Aggregator with both the Sportsbook and the Jackpot Aggregator. The Tournament Tool implementation empowers operators to captivate players more effectively. With its intuitive in-game interface, this tool ensures players remain aware of ongoing gaming campaigns, offering operators a distinct competitive edge.

 

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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 Game Aggregator Triumphs at AffPapa iGaming Awards 2024 appeared first on European Gaming Industry News.

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Synot Attended Casino Operations Summit in Amsterdam

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The European gathering of casino operators, known as the Casino Operations Summit, attracted numerous representatives of the gaming industry to Amsterdam from 23 to 25 April. Among the significant participants was also the SYNOT Group, which attended the prestigious event as a Platinum Sponsor this year.

The Casino Operations Summit is considered as one of the most significant events in the world of the gaming industry, specifically tailored for European multi-channel casino operators (both land-based and online). The event presents the latest approaches to casino operations, as well as new trends in products, technology, marketing and customer services. The Summit also included a variety of presentations on current topics in the land-based and online business. The main theme of the three-day conference was “Think Different”.

“SYNOT Group participated in the Casino Summit Operations for the third time and we were delighted to become a Platinum Sponsor of the event this year. Previously, we were involved in this event as a Golden Sponsor. We are proud to have played a role in supporting this prestigious Summit, which provides us with a unique opportunity to exchange insights and experiences with other leaders in the European casino industry. This event also gave us the chance to meet with business partners and establish many new contacts. There was a great interest in our products, which makes us very pleased and motivated for further expansion,” Miroslav Valenta Jr, Sales Director of the SYNOT Group, said.

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The event is a unique platform providing an opportunity to discuss trends in the gaming industry. SYNOT Group, a leading player in the development and supply of gaming technology, presented the most advanced products and innovations as part of the Summit.

Among the products on display was the Magic Ball Link multi-game progressive jackpot system installed in the Eclipse FL-32 cabinets with LED jackpot display. The latest version of Magic Ball Link offers eight unique linked titles, including new games The Wild Job and 88 Pearls, which join popular titles such as Aztec Jaguar and Tiki Princess.

Furthermore, visitors had the opportunity to try out the premium VLT gaming system Super Link, which offers a selection of twenty captivating linked games, each with a Pay to Win and Linked Bonus feature. The Super Link system was presented in SYNOT’s most advanced cabinets, the UP2-32.

The latest model of cabinet with 27″ monitors, the UP1-27, which made its debut at the recent ICE exhibition in London, was also exhibited in Amsterdam. The cabinet was exhibited together with the Firebird Red and Firebird Blue gaming systems, which offer six unique Hold & Respin game titles in addition to popular classic games.

The post Synot Attended Casino Operations Summit in Amsterdam appeared first on European Gaming Industry News.

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Endorphina partners with the established StarVegas!

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The leading slot provider, Endorphina, has just announced its new partnership with the renowned StarVegas go-live. Both Endorphina and StarVegas.it have been on the market for over 10 years, providing the iGaming world with a wide range of casino games catering to many different players. With this partnership, the companies strive to create a better gaming experience for players worldwide.

Recognized for its approach to game development, Endorphina continues to strengthen its position in the iGaming market. Endorphina implemented a few new features the previous year, including Jackpot RTP+ and Bonus Pop. Furthermore, the company began experimenting with AI, which resulted in the creation of Joker Ra. In 2023, Endorphina managed to increase its total spins by 31%.

“Working closely with each operator is important for our growth to expand our number of partners in the region. Therefore, it brings us great pleasure to have our games added to StarVegas.it after a smooth collaboration that we know it will resonate in the perfect way for their customer base as we attract new players looking for fresh and quality content.” – Zdenek Llosa, Senior Partnership Manager at Endorphina.

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“I’m extremely proud of this new important go-live on Starvegas. Being partners with AdmiralBet and StarVegas allows us to increase our brand awareness and is a significant step forward for our growth in the Italian market. I personally want to express my gratitude and satisfaction to Paolo Marchi, Marco Bassignano, our technical partner Tuko, and all the others who supported us in launching such an important new collaboration.” – Luca Richter, Business Development Manager at Endorphina.

StarVegas.it is a well-established online casino platform offering a diverse choice of attention-grabbing casino games to many iGaming enthusiasts. The company is distinguished for its exclusive promotions, good customer service, and constantly fresh assortment of games.

“We are very happy to announce the launch of Endorphina on Starvegas. After the release of the games on AdmiralBet a few weeks ago, we are delighted with the expansion of our partnership. We are confident that we can achieve important goals together and strengthen our collaboration with a brand that is increasingly growing in the Italian market.” – Paolo Marchi, Brand Manager StarVegas and AdmiralBet.

 

The post Endorphina partners with the established StarVegas! appeared first on European Gaming Industry News.

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