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Next Games is contemplating a rights offering of approximately EUR 8 million to continue strategy execution

Vlad Poptamas

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Photo source: kauppalehti.fi
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Next Games Corporation (“Next Games”) 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 company’s Board of Directors is contemplating a rights offering of approximately EUR 8 million (“Offering”).

The proceeds from the Offering would strengthen the balance sheet of the company and according to the company’s strategy, enable future investments such as product development and marketing of new products as well as be used for other general corporate purposes. The current shareholders of the company have a pre-emptive right to subscribe for new shares issued in the Offering in proportion to their existing shareholdings in the Company. The Offering would also allow the company to broaden its shareholder base and increase the liquidity of the company’s share.

Next Games has received subscription undertakings from current shareholders in total of EUR 8 million. Current shareholders Jari Ovaskainen and AMC Networks Ventures LLC have committed to undertakings to subscribe, subject to certain conditions, for shares in the Offering up to a maximum amount of EUR 4 million each, EUR 8 million in total, in the event that any shares remain unsubscribed for after the expiry of the subscription period of the Offering.

Execution of the contemplated Offering requires that the Company’s Extraordinary General Meeting (“EGM”) authorizes the Board of Directors to decide on the issuance of new ordinary shares. The EGM will be held on 25 September 2019, and the Offering, upon approval, would take place soon after the EGM. A detailed timeline for the Offering will be announced at a later date.

CEO Teemu Huuhtanen: ”Next Games has successfully renewed its operations during this year by stabilising its business operations and rebuilding the product development pipeline. The third and final phase of the turnaround project is to secure additional funding. The contemplated rights offering would be an important step in executing our strategy and enable investments in the future. I am very pleased about our current shareholders’ commitment to developing the company and happy that we have received a total of EUR 8 million subscription undertakings from Jari Ovaskainen and AMC Networks Ventures LLC.”

Next Games
Next Games 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.

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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