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Scout Gaming Group Completes Directed Share Issues and Receives Proceeds of Approximately SEK 75 Million

George Miller

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Scout Gaming wins “Fantasy Sports Supplier of the year” at EGR B2B awards for the third year in a row
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Scout Gaming Group AB announces that the Company successfully has completed two directed share issues amounting to approximately SEK 75 million, corresponding to approximately 3 million shares in the Company.

The Board of directors of Scout has, based on the authorization granted by the Annual General Meeting on May 25, 2020, resolved on a directed share issue of 1,835,062 shares through a so-called accelerated “book building” procedure (the ”Share Issue”) and on a directed share issue to the existing Santa Monica-based institutional investor Topline Capital Partners Ltd, of 1,200,000 shares (the “Directed Share Issue”). The Company receives approximately SEK 45 million before transaction costs from the Share Issue and approximately SEK 30 million before transaction costs from the Directed Share Issue, equal to a total amount of approximately SEK 75 million.

The Share Issue was substantially oversubscribed, and the subscription price has been set to SEK 25 per share through the accelerated book building procedure, which corresponds to a 14.6 percent premium compared to the average volume-weighted price of the Company’s share on the Nasdaq First North Growth Market over the past 30 trading days. The subscription price in the Directed Share Issue has been set to the same price as in the Share Issue.

The Share Issue was directed to Swedish and international institutional investors. In order to facilitate the execution of the Share Issue, the new shares have initially been subscribed for by ABG Sundal Collier AB at a price corresponding to the shares’ quota value. The shares will be transferred to the new and existing shareholders in the Company in accordance with agreements entered between ABG Sundal Collier and the actual investors. Subscribers in the in the Share Issue among others were the German institutional investor Lloyds AG, Provobis and Knutsson Holding. In connection with received payment from investors in the Share Issue, which is expected to occur around July 23, 2020, the Company will receive the remaining amount, i.e. the difference between the quota value and the price in the Share Issue.

“Scout Gaming is in an intensive growth phase establishing the DFS vertical globally. We are at the same time launching many new products and markets, just recently esport had a warm welcome. I’m sure that we trough this placing can capture additional market possibilities to accelerate the growth even more rapidly. I’m very pleased to attract both new and existing institutional investors as well as sector specialists”, comments Scout’s CEO Andreas Ternström.

The reason for the deviation from the shareholders’ preferential rights is mainly to raise capital in a time- and cost-efficient manner and to widen the institutional owner base. Through the Share Issue and the Directed Share Issue, Scout’s financial position will be further strengthened and enable and accelerate growth as well as a continued product development.

After the registration of the Share Issue and the Directed Share Issue, the total number of shares in the Company will amount to 20,536,654 shares. The Company’s share capital will increase with SEK 159,740.12 to SEK 1,080,876.56. The Share Issue and the Directed Share Issue entails a dilution of approximately 15 percent of the number of shares in Scout after the Share Issue and the Directed Share Issue.

In connection with the Share Issue, the Company has appointed ABG Sundal Collier as Sole Lead Manager and Bookrunner and Advokatfirman Delphi as legal counsel.

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Swansea City Teams Up with The Big Step

Niji Narayan

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Swansea City Teams Up with The Big Step
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Swansea City football club has teamed up with gambling harm reduction charity The Big Step in a trailblazing new partnership.

The Big Step is a football-focused gambling education project and part of the Gambling with Lives charity.

The 18-month Gambling Harms Prevention programme will be delivered by Swans’ fan Nick Phillips, himself a recovering gambling addict.

In addition to the support of the club, the scheme has also been backed by the Swansea City Supporters Trust, Swansea City Community Trust and has been positively received by local MP Carolyn Harris.

“I would like to thank the club and the supporters trust in giving us the opportunity to talk about gambling and, in particular, the harms that are attached with it,” Nick said.

“As a lifelong fan of the club, I am excited about this education project and believe it will have a significant positive impact amongst the fans and the local community.”

James Grimes, senior programme manager at Gambling with Lives and Founder of The Big Step, added: “I am so proud to announce our partnership with Swansea City, whose community scheme is renowned for improving lives.

“As a recovering gambling addict, I am passionate about preventing young people going through the same thing that I did. During 12 years of addiction, football failed to provide adequate warnings or the help that I so desperately needed.

“This partnership will show how football can be a positive social vehicle in preventing and reducing gambling harms in its community through our education, awareness and signposting work.”

Swansea City’s head of commercial, Rebecca Edwards-Symmons, said: “We are delighted to be able to lend our full support to the fine work of The Big Step.

“At Swansea City, our supporters and their welfare are at the centre of our values, so we were quick to pledge our backing to this project, which can help the lives of not just individuals, but their families and friends too.

“Aside from backing The Big Step, this season we have moved away from having a gambling company as our main kit sponsor, which allows our junior Jacks to proudly wear the same shirts as their heroes.

“These are the big steps we are making to help strengthen the battle against gambling addiction.”

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eSports

Rix.GG signs Joonas “Mognus” Salo to Rocket League roster

George Miller

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Rix.GG signs Joonas "Mognus" Salo to Rocket League roster
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Rix.GG, a new esports organisation, announces the signing of Finnish superstar Joonas “Mognus” Salo to its Rocket League roster.

Rix.GG’s Rocket League roster ahead of RLCS X Winter Split will be:

  1. Dan “Polar” Rees
  2. Lorenzo “Dead-Monster” Tongiorgi
  3. Joonas “Mognus” Salo

By signing Joonas “Mognus” Salo, Rix.GG is taking a hybrid approach to both nurture home-grown talent and bolster it with unrivaled expertise in Rocket League. Joonas “Mognus” Salo brings with him a wealth of experience, competing and winning at the highest levels of the esport. Rix.GG hopes the move will lead to the development of a winning team strategy to become one of the top Rocket League teams in the EU.

Jamie Lewis, founder, said: “We [Rix.GG] are doubling down on our efforts to build a top tier team and are delighted to have a world-class talent like Mongnus on board. We feel he is the perfect addition to our budding team.”

Ibrahim Taylor, team manager, said: “Mognus is widely regarded as one of the most capable Rocket League players, someone that has seen great success for many years at the very pinnacle of competitive Rocket League. He also gels very well with the team and the great atmosphere is clear to see. Polar and Dead-Monster are both keen to continue to improve, with the experience and history Mognus brings he is the perfect person for them to combine with to take them to new heights.”

Joonas “Mognus” Salo, said: “I’m happy to be joining Rix.GG as a new third player for its Rocket League team. They take good care of their players, so I know I’m in good hands. Immediately from the first scrim I noticed the potential that Polar and Dead-monster have. With my experience, I hope to bring more consistency to the table

and bring out the best of my teammates. It will definitely take some time, but I hope you can support me and my new team on this journey.”

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Asia

PAGCOR Considers Allowing Casinos to Operate Online Gambling

Niji Narayan

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PAGCOR Considers Allowing Casinos to Operate Online Gambling
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The Philippines Amusement and Gaming Corp (PAGCOR) has confirmed that it is considering a proposal to allow online gambling in casinos.

The regulator said it has received requests from operators to allow online bets from known patrons in order to reduce the financial impact of pandemic-related restrictions.

PAGCOR said the departments involved are currently conducting studies on the proposals.

The regulator is already evaluating the legalisation of streaming sabong events in authorised arenas.

An industry source said the change was likely to be made soon but only for Philippine clients.

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