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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.

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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.

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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.

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Greece

Greece Lightning: Stakelogic partners with Kaizen Gaming

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Players at Greek operator’s Stoiximan and Betano brands can now enjoy the developer’s slots and live dealer titles

Kaizen Gaming, one of the biggest GameTech companies in the world, has become the latest to take its online casino game offering to the next level after joining forces with in-demand slot provider Stakelogic and its live dealer division, Stakelogic Live.

Players will be able to access Stakelogic’s host of live casino and slot titles at Betano’s premium platform while in Greece, under a 3-month exclusive partnership, Kaizen Gaming will roll out Stakelogic Live’s suite of top-notch live casino titles through the leading Stoiximan brand.

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Stakelogic’s games promise to put players in a big-win spin. This starts with its portfolio of classic slots which have been designed to appeal to those that love the sense of nostalgia that comes with playing traditional fruit machines.

Games such as Super Bonus Wild, Runner 8 Runner, Bonus Runner, Super 6 Timer and Mega Runner combine instantly recognisable fruit symbols (cherries, oranges, melons, lemons, etc) plus Bells, BARs and 7s, with heart-stopping gameplay that includes Wilds, Multipliers and even Free Spins.

Players at Stoiximan and Betano will also be able to fire up the reels on truly explosive video slots including Rooster Mobs, Wild Wild Bass 3, The Secret of Machu Picchu, Spinata Pinata and the just-launched Wild Hogs.

These games are all about striking visuals and booming sounds, and gameplay that puts players on the edge of their seats with each spin. Stakelogic’s video slots are often highly volatile and are renowned for not only meeting but exceeding player expectations.

If that wasn’t enough, Kaizen Gaming has also taken a suite of live dealer titles from Stakelogic Live. The studio has quickly become a must-have live content provider and now players at Stoiximan and Betano can enjoy the authentic, thrilling experience offered across its roulette, blackjack and gameshow titles.

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Kaizen Gaming’s players will need to strap themselves in for the white-knuckle ride that Stakelogic’s games provide. This is certainly true for the titles that feature its flagship innovation, Super Stake. This allows players to double their bet to increase the chance of a bonus triggering and crazy win combinations landing.

Neil Tanti, Senior Sales Manager at Stakelogic, said: “Kaizen Gaming is a GameTech powerhouse running two of the most successful brands in the world. It’s great to see our classic slots and video slots land in the game lobbies of Stoiximan and Betano, and for players to finally get to see why our titles top the charts in markets across the world.

Our Live titles provide the authentic, interactive gameplay that players are seeking, wrapped up in a sleek, stylish, VIP experience like no other. We are thrilled to have integrated our premium live titles with Kaizen Gaming’s super popular brands in a 3-month exclusive deal”

Christos Mavridis, Head of Live Casino at Kaizen Gaming, added: “This is a major content deal for us, adding some of the hottest slot titles and live casino games in the market to our premium Stoiximan and Betano platforms. I believe Stakelogic’s titles will prove to be a big hit with our players.”

The post Greece Lightning: Stakelogic partners with Kaizen Gaming appeared first on European Gaming Industry News.

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Industry Awards

Slotsoo Casino Awards Is Back – Check Out the Seven Winners for 2024

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Slotsoo is back with another edition of their Casino Awards. The competition was fierce, and most of the trophies went to different operators compared to last year. Continue reading to find out who the seven winners were this time, and to be the first to hear about Slotsoo’s newest ventures.

The Casinos that Received Legendary Status
This year, the following casinos made it into “The Seven”:

  1. The Gambling GOAT– Slotshammer
  2. The Bonus Buff– Scarabet
  3. The Loyalty Lord– Rollino
  4. The Withdrawal Wizard– Rakoo
  5. The Gamification Guru– Hit’n’Spin
  6. The Payout Professor– Stupid Casino
  7. The Noisy Newcomer– Gangsta Casino

The main trophy, The Gambling GOAT, goes to the overall best casino. Last year, during the inaugural ceremony, it was the Campeon Affiliates site Svenbet that won it. At the Slotsoo Casino Awards 2024, the prize went to their other brand Slotshammer.

Campeon also scored a second trophy this year, with their newest casino Scarabet. The rest five trophies were awarded to different operators compared to last year. Markus Björk, head writer at Slotsoo, congratulates all the winners and explains that this is a sign of the fierce competition and the constant innovation in the iGaming industry:

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“The fact that most of the trophies went to new operators shows that nobody is safe. Existing companies need to constantly keep innovating or they will risk losing their shares to newcomers. European casino players in 2024 rank value above everything else.”

Expansion of the Casino Awards to Local Markets

This Spring, Slotsoo also held their first casino awards for one of their language versions. The Finnish Kasinogaala 2024 had the trophies and names modified to fit the local market, but the core idea of the different trophies remained the same: Fun categories that resonate to players.

An 8th trophy was introduced for the casino with the best streaming services. With this award they wanted to highlight the interactive and social nature of casino gaming. Playing online slots in 2024 is not about sitting alone in a dark basement staring at a big screen.

What Else Is New at Slotsoo? Pragmatic Play Tournaments

While many businesses are enjoying a relaxing break during the summer months, Slotsoo is in full swing to grow their website. Earlier this week, they launched free slot tournaments. This new project is a cooperation with Pragmatic Play and one of the main goals is to get more people interested in slots.

In the Slotsoo Social Tournaments, participants have the chance to win gift cards, without putting their own money at risk. The currently ongoing July tournament started a few days early and offers a 500€ Amazon gift card as the grand prize. The winner is the one who manages to get the biggest total win in the fish-themed slot Big Bass Floats My Boat with 50 spins.

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The tournaments are open to all adults that live in the EU/EEA region, except for a few restricted countries. Markus Björk hopes that the monthly tournaments will gain a lot of popularity, and informs that they also have a special Honor & Glory tournament:

“The Honor & Glory tournament lasts until the end of 2024 and consists of 1000 spins to the game Gates of Olympus 1000. If more than one million people register to the tournament the winner will get a really cool secret prize worth a lot of money. If there are 999 999 participants or less, then they just win honor and glory.“

The post Slotsoo Casino Awards Is Back – Check Out the Seven Winners for 2024 appeared first on European Gaming Industry News.

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eSports

Esports World Cup and Aramco Announce Strategic Partnership

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Global energy brand extends relationship with one of the world’s largest gaming festivals

The Esports World Cup Foundation (“EWCF”) and Aramco, one of the world’s leading integrated energy and chemicals companies, announced a strategic partnership that will see Aramco extend its sponsorship of the Esports World Cup, set to take place this summer in Riyadh, Saudi Arabia.

As the official title partner of the Aramco SIM Arena, Aramco will present a high-end simulator zone where racing enthusiasts can compete in community tournaments at the Esports World Cup Festival. The Aramco SIM Arena, offering hyper-realistic simulators that provide an experience akin to driving an F1 car, will be a premier destination for sim-racing fans. This partnership builds on Aramco’s previous successful sponsorships of Gamers Without Borders and Gamers8: The Land of Heroes festival.

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Aramco’s involvement with the Esports World Cup is part of a broader ambition to promote economic development and diversification, provide new opportunities for young people in the country, deliver critical STEM skills, and help build a diverse and dynamic Saudi economy.

The partnership between Aramco and the Esports World Cup is set to create a lasting, positive impact on the world of esports. As the festival approaches, both parties look forward to showcasing Saudi talent on the global stage and inspiring today’s youth through the power of gaming and esports.

Starting July 3, 2024, the EWCF will transform Riyadh into the epicenter of esports fandom and gaming culture, with an eight-week festival. The event will feature gaming activations, community tournaments, pop culture celebrations, international experiences and more. Fans can watch their favorite athletes and clubs compete in 21-game championships for a share of more than $60 million in prize money, the largest in esports history.

The post Esports World Cup and Aramco Announce Strategic Partnership appeared first on European Gaming Industry News.

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