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Playmaker Announces Completion of Subscription Receipt Financing
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.
TORONTO, April 05, 2021 (GLOBE NEWSWIRE) — Playmaker Capital Inc. (“Playmaker” or the “Company”) today announced that, further to Apolo III Acquisition Corp.’s (“Apolo”) March 8, 2021 announcement highlighting that the Company and Apolo entered into a binding letter of intent to consummate a go-public transaction in Canada (the “Transaction”), the Company has completed a concurrent brokered and non-brokered private placement financing of subscription receipts (the “Subscription Receipts”) for aggregate gross proceeds of $24,000,000 (the “Offering”).
The Transaction will be effected through the reverse takeover of Apolo, a reporting issuer in British Columbia, Alberta and Ontario, by the Company, with the resulting issuer (the “Resulting Issuer”) being named “Playmaker Capital Inc.”. The consummation of the Transaction is subject to the approval of applicable director and shareholder approvals, regulatory approvals and other customary closing conditions.
Completion of the Offering
On April 1, 2021, the Company completed the Offering, pursuant to which it issued 48,000,000 Subscription Receipts at a price of $0.50 per Subscription Receipt (the “Issue Price”) for aggregate gross proceeds of $24,000,000. The Offering was comprised of a brokered offering of 32,360,000 Subscription Receipts for gross proceeds of $16,180,000, which was led by Canaccord Genuity Corp. (the “Lead Agent”), together with Echelon Wealth Partners Inc., Eight Capital, PI Financial Corp. and Scotia Capital Inc. (collectively with the Lead Agent, the “Agents”), and a non-brokered offering of 15,640,000 Subscription Receipts for gross proceeds of $7,820,000. In connection with the Offering, the Company granted to the Agents an option (the “Agents’ Option”) to increase the size of the brokered portion of the Offering by up to an additional 10,000,000 Subscription Receipts at the Issue Price, for additional gross proceeds to the Company of up to $5,000,000. The Agents’ Option was exercised concurrent with closing of the Offering.
The Subscription Receipts will be indirectly and automatically exchanged for common shares of the Resulting Issuer upon satisfaction of the escrow release conditions (the “Escrow Release Conditions”) set out in the subscription receipt agreement entered into among the Company, the Lead Agent and Odyssey Trust Company (“Odyssey”), as subscription receipt agent and escrow agent, dated April 1, 2021. The net proceeds from the Offering, after fees and expenses incurred, including 50% of the Agents’ commission for the Offering, have been deposited with Odyssey. The escrowed proceeds will be held by Odyssey until the Escrow Release Conditions have been satisfied.
Subject to receipt of the required consents and approvals referred to above, it is expected that the Escrow Release Conditions will be satisfied and the Transaction will be completed in May 2021. Additional details regarding the Transaction and the Offering will be provided in Apolo’s listing statement, which is expected to be filed with the TSX Venture Exchange (“TSXV”) in April 2021.
Additionally, on April 1, 2021, Playmaker completed the acquisition of the business known as Futbol Sites. Futbol Sites is a top digital sports media group in the United States and Latin America, with one of the largest audiences in its category, reaching more than 50 million unique users every month through a portfolio of more than 10 premium sites and more than 300 million users through a variety of social media channels. Futbol Sites serves up over one billion ad impressions monthly on its owned and operated sites. Futbol Sites is currently licensed in 7 states in the U.S. for sports betting media and has a content team dedicated to curating sports betting specific content on a daily basis.
About Playmaker
Playmaker is a digital sports media company that lives at the intersection of sports, gambling, media and technology. Playmaker is building a collection of premier sports media brands, curated to deliver highly engaged audiences of sports fans to sports betting companies, leagues, teams and advertisers.
Forward Looking Statements
This press release contains certain “forward-looking information” within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current conditions, but instead represent only the Company’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company’s control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”. The forward-looking information and forward-looking statements contained herein may include, but are not limited to, information concerning the Transaction, expectations regarding whether the Transaction will be consummated, including whether conditions to the consummation of the Transaction will be satisfied, expectations for the effects of the Transaction or the ability of the Resulting Issuer to successfully become listed on the TSXV or achieve its business objectives and integrate the operations of the combining companies, expectations regarding financing, and expectations for other economic, business, and competitive factors.
Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward- looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information or forward-looking statements that are contained or referenced herein, except as may be required in accordance with applicable securities laws. All subsequent written and oral forward- looking information and statements attributable to the Company or persons acting on its behalf is expressly qualified in its entirety by this notice regarding forward-looking information and statements.
For further information, please contact:
Jordan Gnat
Chief Executive Officer
E-mail: [email protected]
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.
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.
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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