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Playmaker Announces Completion of Subscription Receipt Financing

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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.

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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.

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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]

 

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USDT Casino Launches Industry-First ‘Sunday Brunch Free Spins’ with Zero Wagering Requirements

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USDT Casino has unveiled a groundbreaking promotion that is set to transform weekend gaming for cryptocurrency enthusiasts. The innovative ‘Sunday Brunch Free Spins’ offer provides players with 20 free spins on Evoplay’s popular Food Feast slot, featuring zero wagering requirements and no maximum win limits.

This player-centric initiative marks a significant departure from traditional casino promotions, offering unprecedented flexibility and instant cashout capabilities for USDT players.

The promotion, available every Sunday, targets active players who have made at least one deposit during the previous week, with a minimum qualifying deposit of $20 USDT required to participate.

Key features of the Sunday Brunch Free Spins include:

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  • 20 Free Spins on Food Feast by Evoplay
  • Zero wagering requirements on all winnings
  • No maximum win limits
  • Instant cash rewards
  • Available exclusively for USDT players
  • Simple claim process via 24/7 Live Chat

The promotion demonstrates USDT Casino’s commitment to providing enhanced value to its crypto-focused player base while eliminating common friction points associated with traditional free spin offers.

Industry-Leading Player Benefits

Unlike conventional casino promotions that typically impose 35x-50x wagering requirements, USDT Casino’s Sunday Brunch Free Spins allows players to keep 100% of their winnings immediately. This approach aligns with the broader industry trend toward transparency and player-friendly terms.

The seamless claim process through Live Chat ensures instant reward delivery, eliminating delays commonly associated with promotional offers. Players can simply contact support on Sundays to receive their spins, with no additional verification steps required.

Setting New Standards in Crypto Gaming

USDT Casino’s innovative promotion arrives as the crypto gaming sector continues to evolve, with operators seeking differentiation through unique player offerings. The Sunday Brunch Free Spins program positions USDT Casino as a forward-thinking operator focused on customer satisfaction and retention.

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The promotion’s recurring weekly structure encourages consistent player engagement while rewarding loyalty without complex tier systems or restrictive conditions.

Michael Thompson, Head of Promotions at USDT Casino, stated, “Our Sunday Brunch Free Spins represent our commitment to creating genuine value for our players. By eliminating wagering requirements and win limits, we’re delivering an authentic, player-first experience that sets new standards in the crypto casino space.”

The promotion is now live and available every Sunday, with USDT Casino reserving the right to modify terms as needed. Players must agree to the casino’s fair play policy and promotion terms to participate.

About USDT Casino: USDT Casino is a leading cryptocurrency casino platform specialising in Tether (USDT) gaming solutions. The platform offers seamless crypto transactions, instant withdrawals, and a diverse game portfolio tailored for the modern digital gambler.

The post USDT Casino Launches Industry-First ‘Sunday Brunch Free Spins’ with Zero Wagering Requirements appeared first on European Gaming Industry News.

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UK Gambling Commission Flags Deepfake-Fueled Money Laundering Threats in Online Gambling Sector

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The UK Gambling Commission (UKGC) has issued a warning about the growing threat of money laundering facilitated by artificial intelligence technologies, including deepfakes, and the rising use of crash games. As part of its regulatory mandate, the UKGC requires licensed operators to stay ahead of evolving cybersecurity risks or risk incurring fines and even losing their licenses. With AI-powered deception on the rise, the Commission urges tighter security protocols across all operator systems.

The need to tighten security 

Artificial intelligence has become more sophisticated, and some users are taking advantage of this to bypass due diligence checks. Players registering on mobile casino platforms are typically required to provide identity documents as part of KYC procedures under AML regulations. However, deepfake technology is now being used to bypass these verifications.

Criminals now use artificial intelligence to create deepfake videos, false documentation, and face swap images to facilitate money laundering. This is why the UK Gambling Commission has stated that all operators in the UK must work fast to retrain employees in assessing customer documents.

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In addition to AI threats, the UKGC continues to classify cryptocurrency as a high-risk channel for laundering illicit funds. Operators are reminded that all crypto transactions must be treated with enhanced due diligence, given their anonymity and growing association with financial crime.

The Commission also raised concerns over the rising popularity of crash games typically found on both licensed and unlicensed crypto casino platforms. Their short duration and rapid cash-out mechanics make it difficult for platforms to detect suspicious patterns, creating opportunities for high-risk laundering behavior to go unnoticed.

All operators were advised to implement appropriate procedures to identify suspicious patterns during the crash games. The UKGC shared an update that revealed that remote and non-remote casinos were providing unlicensed money service business facilities to third parties. These businesses included foreign currency exchange, with some customers attempting to deposit large denominations, such as 500-pound bills.

The Body considered such transactions a money laundering risk. It also noted that some individuals have been offered money to use their personal details to open multiple gambling accounts for criminals. This has been a source of concern for the commission as these accounts are being paid for without the third parties, knowing that they act as unlicensed betting intermediaries.

So far, two operators have been penalized for anti-money laundering and customer care failures. The erring operators were ordered to pay 375,000 pounds for AML breaches, while the bookmaker was fined 686,070 pounds.

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The UKGC also warns operators to avoid supply partners connected to illegal sites. This came from the observation that games developed by operators with software licenses were ending up on unlicensed websites. The UKGC warns that operators connected to black market supply chains may face direct penalties even if indirectly involved. As such, due diligence on third-party content providers is now not just advisable, but essential. These developments underscore a broader industry challenge: maintaining regulatory compliance amid fast-evolving digital threats.

The post UK Gambling Commission Flags Deepfake-Fueled Money Laundering Threats in Online Gambling Sector appeared first on European Gaming Industry News.

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Regulatory Roadblocks: The Future of Sweepstakes Gaming in the U.S.

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Sweepstakes gaming has become very popular in the United States, as it provides individuals with the opportunity to win prizes without the need for a purchase. As opposed to traditional gambling, which has been highly regulated, sweepstakes gaming operates under the gray area of the law, and as a result, it runs in a varied regulatory environment. As this form of entertainment continues to evolve, it is significant for operators, players, and policymakers to understand the regulatory challenges in order to shape its future.

Understanding Sweepstakes Gaming

Sweepstakes gaming allows users to participate in games and contests in which prizes are won. Sweepstakes are a bit different from traditional gambling. In normal gambling, individuals gamble money in hopes of winning, while in sweepstakes, you do not typically have to purchase anything for entry. The growth of new sweepstakes casinos platforms offering casino-style gameplay through promotional credits and free-entry mechanics has expanded the reach of the sweepstakes model, attracting users seeking low-risk entertainment alternatives.

However, the legitimacy of sweepstakes gambling differs from state to state, and all these various regulations form a set of laws that are confusing to both the operators and the players. New sweepstakes casinos typically have to contend with such convoluted regulation, as there are multiple regulations at the state level to comply with. This inconsistency could be challenging for operators to implement and may limit players from accessing this new and creative gaming experience.

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The Future of Sweepstakes Gaming in the U.S.

In spite of the regulatory hurdles, there are possible avenues that can potentially unlock a brighter future for sweepstakes gaming in the U.S.

  • Standardization of regulations

Nowadays, the legislation is different. Each state has different definitions, rules, and prerequisites for sweepstakes. This lack of uniformity can keep operators from entering the marketplace and confuse players about their rights and responsibilities. By promoting interstate collaboration to develop standardized regulations, the industry would benefit from more transparent compliance channels that make it easier to conduct business for emerging sweepstakes casinos. A standardized regulatory landscape would not only reduce legal uncertainties but also optimize consumer confidence, ensuring an open and fair gaming environment.

  • Innovation in Compliance

Compliance innovation involves using new solutions and technology to make the regulations of sweepstakes gaming simpler or better. As there is evolution in the industry, the traditional methods of performing compliance might no longer apply, hence becoming a hindrance in the manner in which operators comply with diverse state regulations. New solutions like blockchain and artificial intelligence can be explored to enhance transparency and accountability in sweepstakes gaming.

  • Consumer Education

Consumer education involves the offering of understandable, clear information to players about their rights, responsibilities, and types of games played. As the industry expands, it is very crucial to educate consumers so they know how the sweepstakes are conducted, the rules of play, and the possible risks. Educating players so they are well-informed will enable operators to build trust and achieve responsible gaming practices. Effective consumer education can diminish confusion regarding sweepstakes, resulting in a more secure and transparent gaming experience

The post Regulatory Roadblocks: The Future of Sweepstakes Gaming in the U.S. appeared first on European Gaming Industry News.

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