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Enlabs Makes a Mandatory Public Offer to the Shareholders of Global Gaming
Enlabs announced on August 26, 2020, that Enlabs had acquired 9,878,086 shares in Global Gaming 555 AB on the same day, for a purchase price corresponding to SEK 11 per share (where 50 percent of the purchase price was paid in cash and 50 percent was paid through newly issued shares in Enlabs), and thus increased Enlabs’ ownership from 29.89 percent to 54.06 percent of all shares and votes in Global Gaming, which meant that Enlabs was required to make a mandatory public offer for the remaining shares in Global Gaming in accordance with the Takeover rules for certain trading platforms (the “Takeover rules”). Since the announcement, Enlabs has acquired additional shares in Global Gaming in the market and Enlabs’ ownership at the time of publication of this press release amounts to 66.70 percent of all shares and votes in Global Gaming.
Considering the above, Enlabs hereby makes a mandatory public offer to the shareholders of Global Gaming to transfer all their shares in Global Gaming to Enlabs (the “Offer”). The consideration of the Offer consists of three alternatives: (a) a cash consideration, (b) a share consideration in the form of shares in Enlabs, or (c) a combination corresponding to 50 percent as cash consideration and 50 percent as share consideration. All consideration alternatives correspond to SEK 11 per Global Gaming share. Enlabs will not increase the offered consideration.
The shares in both Enlabs and Global Gaming are listed on the Nasdaq First North Growth Market (“First North”).
The Offer in brief
At the time of the Offer, Enlabs owns 27,266,114 shares in Global Gaming, corresponding to 66.70 percent of all outstanding shares and votes in Global Gaming.
The Offer values all shares in Global Gaming at approximately SEK 450 million.
Enlabs offers the shareholders in Global Gaming as consideration, for each share in Global Gaming, either:
a cash consideration of SEK 11 (the “Cash Consideration”),
0.36 shares in Enlabs (the “Share Consideration”), or
a combination corresponding to 50 percent as Cash Consideration and 50 percent as Share Consideration.
Enlabs will not increase the offered consideration.
The Offer entails a premium of approximately 15 percent in relation to the closing price on First North for the Global Gaming share on August 26, 2020 (which was the last trading day before Enlabs announced its intention to submit a public bid offer to the shareholders in Global Gaming) and a premium of approximately 1 percent in relation to the closing price on First North for the Global Gaming share on September 21, 2020 (which was the last trading day before the announcement of the Offer). Furthermore, the Offer entails a premium of approximately 4 percent in relation to the volume-weighted average share price for the Global Gaming share during the last thirty (30) trading days, and a premium of approximately 13 percent based on the volume-weighted average share price for the Global Gaming share during the last ninety (90) trading days, up to and including September 21, 2020.
The board of directors of Global Gaming, or an assembled independent bidding committee of Global Gaming, shall publish its opinion on the Offer and the reasons for this opinion no later than two weeks before the expiry of the acceptance period. Furthermore, Global Gaming must obtain and, no later than two weeks before the end of the acceptance period, publish a fairness opinion regarding the Offer from independent expertise. At the time of publication of this press release, neither such statement nor a fairness opinion have been published.
Enlabs’ completion of the Offer is only conditional on the acquisition being approved, if applicable, by the relevant competition authorities.
Enlabs will publish an offer document regarding the Offer, which is expected to take place around October 2, 2020. The acceptance period for the Offer is expected to begin around October 5, 2020 and end around November 2, 2020.
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SIS and Premier Greyhound Racing reveal improved greyhound race time schedule
Sports Information Services (SIS), the leading multi-content supplier of 24/7 live betting services, and Premier Greyhound Racing (PGR), the media rights company supplier of greyhound racing to the betting industry and direct to viewers, have collaborated to offer a revised race time schedule starting from 20 May.
Designed to protect the long-term future of UK greyhound racing, the new schedule will see morning fixtures start slightly later – moving from 10.47 to 11.01 and 10.54 to 11.09. Additionally, there will also be a slightly later start time for some evening fixtures aimed at a retail audience, with the first evening fixture now starting at 18.08.
Commenting on the improved schedule, Terry Mahoney, Head of Business Development at ARC, said: “The new race times will help make it easier for customers to navigate busy racing schedules as well as improving operations trackside. We will continue to listen, monitor, and adapt schedules where and when needed as we move forward to deliver the best service possible for betting operators as well as punters.”
Paul Witten, Managing Director at SIS, added: “We are passionate about delivering a greyhound racing service that benefits all of the sport’s stakeholders. Together with Premier Greyhound Raxing, we have introduced a revised racing schedule that benefits operators and their customers.
“Our approach to greyhound racing is grounded in sustainability and flexibility. This collaboration with fellow service providers allows everyone to enjoy all the high-quality action produced on a daily basis from tracks across the UK and Ireland.”
SIS has long-term agreements in place with bet365, William Hill, Paddy Power and Betfred to deliver its greyhound content across UK and Irish retail and digital channels. SIS also promotes this content across dozens of leading international operators, as well as through SISRacing.tv.
PGR offers greyhound action, cards, video replays, results, news and info on greyhounds.attheraces.com, and regular live broadcasts on Sky Sports Racing. Premier Greyhound Racing is a joint venture between Arena Racing (ARC) and Entain, the global sports betting, gaming and interactive entertainment group. Between them, the two companies own nine of the 20 licensed British greyhound tracks and ARC manage the media rights for five independent tracks.
The post SIS and Premier Greyhound Racing reveal improved greyhound race time schedule appeared first on European Gaming Industry News.
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The Importance of Data Quality Review Checks in the Gaming Industry
By Lorenzo Nardini, Head of Technical Compliance and Maths Services
In the dynamic world of online gaming, data plays a pivotal role. Databases containing personal and financial information, often referred to as “Safe” databases, serve as the backbone of any gaming platform.
In this short article, I focus on control databases (CDBs) – that is how Safe databases are referred to in the Dutch landscape – and why it is important to ensure their completeness, accuracy, and consistency through continuous data quality review. In any case, the topics here covered apply to most regulated markets.
Control databases contain critical information related to player accounts, financial transactions, game rules, and security protocols. Essentially, they ensure the smooth functioning of the entire gaming ecosystem. It is no wonder that the Dutch regulator (KSA) enforces specific technical regulations on them and often perform audits on these systems that can result also in fines in cases errors are detected.
Data quality review checks
Data quality review checks play a pivotal role in maintaining the integrity of control databases, ensuring continuous compliance. Here are some key reasons why they are essential:
- Accuracy and Consistency: Control databases handle vast amounts of data, including player profiles, game logs, and financial records. Ensuring accurate and consistent data is crucial for fair gameplay, financial transparency, and regulatory compliance.
- Player Experience: Imagine a player losing progress due to a database glitch or loss of connectivity. Such incidents can lead to frustration and loss of trust. Data quality checks ensure that the control database is correctly functional, and the information therein contained can be used to handle such incomplete games, enhancing the overall player experience.
- Regulatory Compliance: Gaming companies must adhere to strict regulations regarding data privacy, security, and fairness. Regular reviews ensure compliance with industry standards and legal requirements.
Most importantly, regular reviews can help gaming companies reducing the risk of an unsuccessful audit that could typically lead to a fine and negative PR.
Ideally, data quality reviews should be ongoing. Real-time monitoring is crucial for identifying issues promptly. Additionally, scheduled audits—monthly or quarterly—help catch any long-term discrepancies or trends.
Key areas of data quality reviews
When performing checks on the quality of CDBs, the following are the main areas to consider:
- Data Completeness: Ensure that all necessary fields are populated correctly. Missing or incomplete data can lead to errors downstream.
- Data Accuracy: Cross-check data against reliable sources. For example, player balances should match financial records.
- Data Consistency: Verify consistency across different databases and systems. Inconsistencies can cause confusion and operational inefficiencies.
Starting from the specific Dutch case and then expanding to other markets, here at ComplianceOne Group we have developed a data quality review service using our experience in dealing with this form of analysis. Leveraging feedback obtained directly from regulators, we created a testing procedure that performs the following:
- Tests on triggering reports from staging environment. We access the client’s staging environment with test accounts and perform actions that are aimed at triggering specific reports in the control database. We then check that these have been correctly generated and that they contain all necessary information, checking their accuracy against the back-office.
- Data quality tests on production environment. We download a large number of reports directly from production and run a battery of tests that we have designed and that is tailored specifically at checking completeness and consistency of the information contained in the control database.
All findings are promptly reported to the client and, if needed, we can assist with solving any issues found.
Conclusion
When I started being exposed to control databases, I understood that for many this is a very technical area and that maintaining this environment functioning correctly can be quite cumbersome. Nevertheless, a commitment to data quality is a necessary for ensuring continuous compliance of gaming platforms. If you are interested in running regular data quality reviews, or even just a one-time overall check, contact me and I will be happy to assist!
The post The Importance of Data Quality Review Checks in the Gaming Industry appeared first on European Gaming Industry News.
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7777 gaming signs a strategic iLottery content deal with Scientific Games
7777 gaming, a leading provider of digital gaming solutions, has announced a significant strategic partnership with Scientific Games a global leader in retail and digital lottery games, technology, analytics and services, to deliver digital lottery games through the SG Content Hub Partner Program.
The SG Content Hub Partner Program is a unique platform and game content partnership program featuring an expanding, highly curated selection of iLottery games from best-in-class, game studios worldwide in a variety of play styles appealing to all player types in multiple languages, as well as access to select licensed properties from the largest licensed brands portfolio in the lottery industry. Scientific Games currently serves 150 lotteries in 50 countries.
Elena Shaterova, Chief Commercial Officer at 7777 gaming, expressed enthusiasm about the partnership: “Partnering with Scientific Games represents a significant milestone for 7777 gaming, solidifying our position as a global leader in digital lottery solutions. Through this collaboration, we are poised to deliver unparalleled gaming experiences to players worldwide, driving innovation and growth in the lottery industry.”
Steve Hickson, VP of Digital Games at Scientific Games commented: “We are delighted to welcome yet another top-class lottery game studio to the SG Content Hub Partner Program. The addition of 7777 gaming and their fantastic games aligns perfectly with our goal to make a variety of digital lottery content available to existing and new Scientific Games customers. Our SG Content Hub Partner Program is developing at pace as we continue to provide our customers with frictionless access to the very best content in the industry.”
The SG Content Hub Partner Program offers a one-stop solution for accessing multiple iLottery game studios, seamlessly integrating with a lottery’s existing gaming systems and iLottery technology. It streamlines operations, simplifies tech integrations, and enhances data analytics to drive game development and iLottery portfolio management.
7777 gaming is renowned for its ability to deliver high-quality iLottery games tailored to the unique requirements of different lotteries. The company ensures that its game content meets stringent government regulations and operators’ expectations for customization. With custom-made lottery concepts, 7777 gaming guarantees enhanced player satisfaction and fosters a deeper sense of connection and loyalty to the brand.
The post 7777 gaming signs a strategic iLottery content deal with Scientific Games appeared first on European Gaming Industry News.
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