Gaming Innovation Group (GiG) has entered into a Share Purchase Agreement that will see it acquire sportsbook and platform provider Sportnco Gaming (Sportnco) for an initial consideration of €50.8m.
Sportnco has rebranded from France Pari and is a provider of turnkey betting and gaming solutions to operators in regulated markets with proprietary sportsbook and player account management solutions.
The provider has a strong presence in France and has also expanded into Spain, Peru and Greece. It is partnered with Betway, Casino Gran Madrid, NetBet, Casino Barcelona and Peru’s Casino Atlantic City and Olimpo.
According to GiG, the combined company will boost its position as a leading platform and media provider andat the close of the deal, Sportnco and GiG will be licensed in 25 markets, with approximately 55 clients.
GiG will pay an initial consideration of €50.8m, of which €23.5m will be paid in new GiG shares with the remaining €27.3m to be paid in cash. Sportnco’s existing debt of €19.2m will also be assumed by GiG and could pay an earn-out of up to €23m, based on the supplier’s performance in 2022 and 2023.
Richard Brown, CEO at GiG said that the hugely complimentary regulatory profile and high-quality sportsbook that Sportnco have, rapidly expands both companies’ short and long-term addressable market.
Herve Schlosser, CEO and founder of Sportnco, said the two companies were a perfect match, both in terms of product and area of business, and also through sharing the same corporate values.
He added that their mutual PAM solutions will enable them to cover European and American regulated markets for existing and future clients.
SkyCity Entertainment Group will invest €25m into the business through a directed share issue after entering into an agreement with GiG.
Leading software developer GrooveGaming is pleased to announce that ir has added Matrix Studios to its developer roster.
Integrating the studio’s portfolio with the aggregator and supplier’s platform will see GrooveGaming enhancing its expansion in key regulated markets.
Matrix Studios’ games are certified in a number of jurisdictions that include Portugal and the UK, as well as the Malta Gaming Authority (MGA) regions. The games offer players lots of excitement and boast several bonus features, rich graphics and original ambient sounds as well as music. The studio offers a vast selection of titles in its online casino portfolio that range from standard slot machines and scratch cards to bingo and table games which are all available to players in 260 currencies and 25 different languages.
The awesome Matrix Studios’ games portfolio features a multitude of innovative HTML titles such as Gold Metal Ox, Knights of Alturia, Fruit Bar, Toro Bravo, Swan House and seasonal Christmas Fairies with the deal also including new releases that include Wild Joker, Pretty Diamonds, Dark Potions and Bow Wow. These titles are backed by Matrix Studios’ jackpots – Matrix Supersweep, Matrix Superpot and Matrix Superpays.
Groove provides a comprehensive set of solutions for multichannel B2B iGaming that covers online and mobile gaming across all devices.
GrooveOn is an easy-to-use multifunctional back-office that powers performance and creates a valuable environment for online casinos.
Valli Fragoso, Founder of Matrix Studios commented that their team produce outstanding titles in a wide variety of categories and game types, all designed to increase player satisfaction and improve loyalty.
Yahale Meltzer, COO at GrooveGaming said that their content and product-lineup is a big part of keeping the Groove vibe fresh and relevant and they are stoked to welcome Matrix Studios onboard.
One of the United States’ leading online Sports Betting and Casino companies, Rush Street Interactive, recently announced that it has entered into a 10-year Sports Betting Operations Partnership Agreement with Hall of Fame Resort & Entertainment Company, the only Resort, Entertainment and Media Company centered on Professional Football.
The signing of the partnership follows the legislation of Sports Gambling within the state of Ohio and is subject to obtaining the necessary licensing.
In terms of the agreement Rush Street Interactive will operate a premier retail Sportsbook at the Hall of Fame Village, powered by Johnson Controls with the agreement between the parties also featuring a Sponsorship component that allows Rush Street Interactive to utilize HOFV’s signage, branding and media assets.
The complex surrounds the Pro Football Hall of Fame in Canton and consists of a Multi-Sport, Entertainment and Media destination.
Richard Schwartz, Chief Executive Officer of Rush Street Interactive, commented that they are excited to partner with the Hall of Fame Resort & Entertainment Company, a unique sports and entertainment company with exceptional reach in professional football and beyond.
Schwartz went on to say that they look forward to offering a best-in-class Sportsbook commensurate with the prestige of the Pro Football Hall of Fame and Hall of Fame Village that fans across the country and world can enjoy.
Michael Crawford, President and Chief Executive Officer of Hall of Fame Resort & Entertainment Company, said that with the legislation of Sports Betting in Ohio, they see a variety of opportunities and benefits across their company’s multiple business lines. He added that they selected Rush Street Interactive because of its outstanding reputation, impressive Sportsbook results in other markets and the quality and experience of its team.
Hollywood Casino in Perryville is thrilled to reveal that it has become Maryland’s fifth sportsbook to open in the state after having been granted approval from Maryland’s regulator to take bets.
A grand opening ceremony took place at the casino that is a couple of miles from the Delaware border after the casino successfully completed a two-day trial run that was supervised by the Maryland Lottery officials.
The facility offers a casino floor with approximately 800 Reel and Video Slot machines and Table Games for craps, poker, blackjack, roulette and more, as well as dining and free live entertainment. The casino is open 24 hours a day, throughout the year.
Hollywood Casino is the fifth facility to open Sports Betting following MGM National Harbor, Live! Casino, Ocean Downs and Horseshow launched their sportsbooks earlier this month.
The Sports Wagering Application Review Commission awarded licenses to all the above facilities last month.
Seventeen establishments that include the five casinos have been assigned in the sports wagering law to conduct Sports Betting. It is anticipated that other facilities, including Long Shot’s, Greenmount Station and Riverboat will accept sports wagers early next year.
It is expected that once sports betting is fully operational, a 15% tax on revenue will result in total revenue reaching $100m annually, with approximately $15m for the state and $85m for the businesses.
Sports wagering has already been approved by Washington DC and 32 states, including Delaware, Pennsylvania, Virginia and West Virginia.
A vote to legalize sports betting during the 2020 election was approved by Maryland by a margin of two to one.
Leading casino games supplier Wazdan is thrilled to announce the release of its tasty-looking, sweet-inspiring themed online slot game titled ‘Jelly Reels’ that is bound to provide players with endless fun and lucrative wins.
The new 8 x 8 slot game has 16,777,216 ways to win with up to 2,500x the stake paid at the end of the best rounds.
‘Jelly Reels’ comes with an RTP of 96.22% and boasts a number of fantastic features which include Mega symbols, Wilds, Re-Spins, Cascading Wins and a number of huge Jackpots for players to trigger in the Hold the Jackpot Bonus Round.
The Bonus Game is played out on 40 reels and features 5 types of Bonus symbols.
Jackpot Coins, Silver Coins and Mystery symbols appear on the big reels at the top of the grid with Jackpot Coins awarding corresponding Mini, Minor or Major Jackpots. Silver Coins accumulate all values from Golden Coins and Silver Coins drawn on the reels below and multiply them randomly by up to 5x. Mystery symbols transform into any other Bonus symbol.
Players are awarded with the Grand Jackpot, worth 2500x their bet for filling all spots on the grid with Bonus symbols.
Wazdan’s popular ‘Hold the Jackpot’ mechanic is utilized in the ‘Jelly Reels’ slot game. It does, however, offer a special reel layout and new Bonus symbols that enhance the player’s excitement.
Andrzej Hyla, Chief Commercial Officer at Wazdan, commented that the game is simple in design, offering players the perfect opportunity to navigate through the game’s intuitive mechanics and trigger some seriously impressive payouts.