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The Board of Directors of Next Games Corp. has adopted a new share-based incentive program

Vlad Poptamas

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The Board of Directors of Next Games Corporation has adopted a new share-based incentive program

NEXT GAMES CORPORATION COMPANY RELEASE 9 July 2019 7am EEST

The shareholders of Next Games Corporation (the “Company”) have on 21 May 2019 resolved to authorize the board of directors of the Company to resolve on issuances of shares in the Company and option rights entitling thereto so that the total number of shares may, pursuant to the authorization, be increased by a maximum of 925,000 shares in the aggregate.

The board of directors of the Company has on 8 July 2019 approved a new share-based incentive program (“Program”). The Program is part of the incentive and commitment scheme of the Company and the option rights entitling to shares in the Company can be issued based on it to all current and future employees, consultants acting in a key role for and management members of the Company and its group companies. Unless otherwise decided by the board of directors, option rights are issued to the recipients without consideration. Shares and option rights entitling to shares issued under the Program may increase the amount of shares by a maximum of 925,000 shares in the aggregate.

The Strike price of the options have been determined to be the average of the daily closing prices of Next Games Corporation’s shares between 1st of June and 30th of June.

Each option right issued under the Program entitles the recipient to subscribe for one new share in the Company. The option rights issued under the Program are divided into two rounds depending on, whether the option rights have been issued at the latest on 20th July 2019 (“Option Rights Round I”) or after it but not later than on 15 January 2020 (“Option Rights Round II”).

The subscription period for shares issuable pursuant to the option rights issued under the Program commences as of the first registration of the Program with the Finnish Trade Register and expires for Option Rights Round I on 30 June 2024 and for Option Rights Round II on 31 December 2024.

The option rights entitle to share subscription during the subscription period in accordance with the vesting schedule agreed in the option agreement between the Company and the recipient. Unless otherwise agreed in the option agreement, the default vesting schedule applicable to all recipients of the Option Rights Round I shall be such that 25 percent of the option rights granted to a recipient entitle to share subscription on 1 July 2020, and the remaining 75 percent of the option rights entitle to share subscription in 25 percent annual instalments on 1 July 2021, 1 July 2022 and 1 July 2023.

Respectively, the default vesting schedule applicable to all recipients of the Option Rights Round II shall be such that 25 percent of the option rights granted to a recipient entitle to share subscription on 1 January 2021, and the remaining 75 percent of the option rights entitle to share subscription in 25 percent annual instalments on 1 January 2022, 1 January 2023 and 1 January 2024. Unless otherwise decided by the board of directors, share subscription is additionally subject in each case to the recipient continuously providing services to the Company or its group companies as an employee, consultant or management member.

Unless otherwise decided by the board of directors, the subscription price payable for each share subscribed for pursuant to the option rights issued under the Program shall with respect to each option right issued as part of the Option Rights Round I equal the arithmetic mean of the closing prices of the share on the Nasdaq First North Finland market place for June 2019, and respectively, with respect to each option right issued as part of the Option Rights Round II equal the arithmetic mean of the closing prices of the share on the Nasdaq First North Finland marketplace for December 2019. The subscription price will be booked in its entirety into the Company’s invested unrestricted equity reserve.

Unless otherwise decided by the board of directors, if a recipient’s employment or service relationship with the Company or its group companies ceases for any reason, all unexercised option rights that do not yet entitle to share subscription taking into account the agreed vesting schedule will automatically terminate and be forfeited to the Company. The recipient is entitled to exercise option rights entitling to share subscription within thirty (30) days from the date of the termination of the employment or service relationship, at which time any option rights remaining unexercised will automatically terminate and be forfeited to the Company.

Next Games
Next Games (Helsinki Nasdaq First North: NXTGMS) is the first publicly listed mobile game developer and publisher in Finland, specializing in games based on entertainment franchises, such as movies, TV series or books. The developers of the critically acclaimed The Walking Dead games redefines the way franchise entertainment transforms into highly engaging service-based mobile games. In summer 2018, Next Games launched The Walking Dead: Our World, which utilizes cutting edge AR technology and is powered by Google Maps. Currently Next Games is working on multiple new games based on popular entertainment franchises including, Blade Runner Nexus, for the popular Blade Runner franchise and a mobile game based on Netflix’s Stranger Things. For more information head to www.nextgames.com

 

Source: GlobeNewswire

Vlad Poptamas is a Junior Content Editor at European Gaming Media and at PICANTE Media and covers a large variety of industries among which the gaming industry. Vlad has a background and possesses skills that enable him to do creative content writing and editing.

Gambling in the USA

Win Technologies USA Installs Wigos in Chickasaw Nation Casinos

Niji Narayan

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Win Technologies USA Installs Wigos in Chickasaw Nation Casinos
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Win Technologies USA has installed its Wigos casino management system in the Ada Gaming Center and Megastar Casino of Chickasaw Nation.

The Ada Gaming Center is a casino located in Ada which offers 355 electronic games and two table games. Ada Gaming also offers a Players Club, Traditions Bar, and an attached Chickasaw Travel Stop.

Megastar Casino is located north of the Oklahoma-Texas border in Willis and offers over 650 electronic games. The casino boasts a Players Club, Kitchen 377, a bar area and is also attached to a Chickasaw Travel Stop.

“These are Win Technologies USA’s first CMS installations with the Chickasaw Nation, and we are honored to be working with this great team of dedicated gaming professionals,” Alex Alemany, President of Win Technologies USA said.

“Win Technologies USA provides us with a scalable, cost-effective casino management system with great technological innovation that doesn’t erode profitability. We are excited for the opportunity to grow our business using the Wigos CMS and look forward to working with Win Technologies USA on future projects,” Scott Emerson Executive Officer of Business Operations in the Chickasaw Nation Department of Commerce said.

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New Gambling Addiction Treatment Centre opens in the UK

Niji Narayan

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New Gambling Addiction Treatment Centre opens in the UK
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NHS has launched the UK’s first gambling addiction service outside of London in Leeds. The service will provide treatment and support for people with severe addictions, complex mental health conditions, impaired social functioning.

The new NHS service, run by Leeds and York Partnership NHS Foundation Trust (LYPFT), is being funded jointly by NHS England and GambleAware. It is part of the NHS Northern Gambling Service, with further facilities in Manchester and Sunderland set to open in early 2020.

“Problem gambling is an addiction which ruins lives for thousands of people and their families. I am determined to do what I can to tackle it. No one’s access to support should depend on where they live, so we are expanding treatment outside of London to help addicts get the support they need to turn their lives around. As part of our NHS Long Term Plan, we will continue to roll out these specialist services across the country and undo the damage caused by gambling and protect our most vulnerable,” Matt Hancock, Secretary of State for Health and Social Care said.

“Our aim is to prevent people getting into problems with their gambling, all the while making sure that those who do develop problems receive fast and effective treatment and support. These new services will play a vital role in making sure those with more serious and complex needs linked to gambling will have quick access to free, fast and effective treatment, wherever they may be. We very much look forward to seeing this clinic open and we would welcome the opportunity to potentially replicate this approach in other areas of the UK in the future,” Marc Etches, chief executive of GambleAware said.

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Gambling in the USA

GAN plc: Internet Gambling Revenue of Pennsylvania Increases in August 2019

Niji Narayan

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GAN plc: Internet Gambling Revenue of Pennsylvania Increases in August 2019
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GAN plc has updated the market following the publication of Internet gaming and Internet sports betting financial information for August 2019 in Pennsylvania, by the Pennsylvania Gaming Control Board (PGCB).

Internet Gaming Win was $6.3 million in August compared to $2.9 million in the prior sequential month, reflecting an increase of 118.6%. Total Internet Sports Wagering Handle was approximately $83.2 million in August compared to $39 million in July. Internet Sports Wagering Gross Revenues for the month of August were $6.3 million compared to $2.9 million in July.

Internet Sports Wagering Gross Revenues may vary from month to month due to the payouts for future events occurring months after the original wager was made and unredeemed winning wagers from prior months will become deductible upon redemption in future months.

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