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Spiffbet Acquires Sir Jackpot and Live Lounge

Niji Narayan

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Spiffbet Acquires Sir Jackpot and Live Lounge
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Spiffbet has signed an agreement with Livelounge Ltd, a company registered in the British Virgin Islands, to acquire the online casinos Sir Jackpot and Live Lounge for a maximum of SEK 2.5 million.

The transaction means that Spiffbet acquires the rights to the domains sirjackpot. com and livelounge. com with associated customer databases and other intellectual property rights. The acquisition includes two employees who will be integrated into Spiffbet.

The acquisition will be completed with two payment tranches. One tranche consists of a promissory note of SEK 2 million to be redeemed after approximately two months either in cash or by set-off against newly issued Spiffbet shares, and the second tranche through a cash payment of SEK 0.5 million which will be paid out provided that certain conditions are met by 30 June 2021.

“We continue to deliver on our growth and acquisition strategy. Sir Jackpot and Live Lounge contribute to our existing business with both sales and earnings, which allows us to allocate fixed costs on a larger revenue base and increase our bargaining power vis-à-vis suppliers and partners. In addition, we are adding two qualified employees, which is important in the growth phase we are in now,” Henrik Svensson, CEO of Spiffbet, said.

“This is a good add-on acquisition that gives us two more established brands to work with. Thanks to the fact that the business is on the same platform as us and with the same support system in general, there will be minimal measures to integrate the business. We also welcome the two employees as employees of Spiffbet. It suits us perfectly to strengthen the organization now that we are accelerating the business of acquisitions made in 2020,” Maria Boelius, Head of Casino Operations at Spiffbet, said.

Industry News

Italy Extends Suspension of Gaming Activities Until April 6

Niji Narayan

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Italy Extends Suspension of Gaming Activities Until April 6
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Gaming activities in Italy will remain suspended until next month. The new decree of Prime Minister Mario Draghi has extended the suspension of gaming activities until April 6.

The decree said that all activities in arcades, betting rooms, bingo halls and casinos are suspended, along with those of theme parks.

The provisions come into force on March 6 when the effectiveness of the rules contained in the old decree by Giuseppe Conte will expire.

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Industry News

Overwolf Appoints Shahar Sorek as CMO

Niji Narayan

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Overwolf Appoints Shahar Sorek as CMO
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Overwolf, the all-in-one technology platform that enables creators to build, distribute and monetize in-game apps and mods, has appointed Shahar Sorek as its Chief Marketing Officer.

Before joining Overwolf, he was CMO at Spacemesh. He is having more than 12 years of experience in the games and technology industry. He has founded and managed leading startups including 7 Elements Studios, a game studio specialising in massive-multiplayer-online strategy games.

“A new era of the gaming revolution has begun, an inflection point in which the gamer/creator is emerging and will be a major force in shaping how current and future AAA games and economies will be experienced. Overwolf’s passion for games and technological savviness make it a key player in shaping the future of the industry for all stakeholders. For creators, Overwolf has created a new career – the in-game creator – where gamers can make an actual living from their creations. For publishers and game studios, Overwolf is enhancing the gameplay experience and increasing engagement. It’s a story of a generation – putting gaming experiences into the hands of gamers and I am thrilled to be a part of it,” Shahar Sorek said.

Shahar has also held advisory positions at Overwolf, Flytrex, GK8, and Treebute.io where he shaped the narrative and strategy of the venture with a focus on the go-to-market audience and the companies’ investors. In his past, he worked as a creative producer and actor in Hollywood and Israel and is a former five-time Israeli national champion in Taekwondo.

“While I’ve known of Shahar for a long time, I’ve had the immense pleasure of working with him closely as both an advisor to Overwolf and as a personal mentor for the last two years. I could not be more excited and grateful for him to join the Overwolf team as CMO. He is a wonderful addition to our team and will play an integral role in the growth of Overwolf as we work to make in-game creation a legit profession and accelerate the strategic adoption of user generated content by publishers and game developers,” Uri Marchand, CEO and Co-Founder of Overwolf, said.

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Industry News

Playtech Appoints Brian Mattingley as Chairman

Niji Narayan

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Playtech Appoints Brian Mattingley as Chairman
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Playtech has appointed Brian Mattingley as its new non-executive chairman, effective on June 1.

According to the official announcement, Mattingley will leave his position as Chairman of 888 Holdings where he served for nearly 5 years. Mattingley will replace Claire Milne as Chairman of Playtech, who has served as the Interim Chairman of the company since May 2020.

“I’m very pleased to be joining Playtech, at such an exciting time in the company’s development. Playtech is ideally placed to continue to build on its market leadership position, and I look forward to working with everyone at Playtech to drive forward its strategy and capitalize on the opportunities ahead,” Mattingley said.

“In selecting the new Chair, we wanted to appoint an individual with significant online gambling experience and a track record of delivering high levels of corporate governance and stakeholder engagement in a highly regulated and fast-growing industry. Over the course of the last 30 years, Brian has delivered strongly in these areas and has been at the forefront of the development of our industry. We are delighted that someone of Brian’s caliber is joining the Board and look forward to benefitting from his experience to support our continued progress and growth,” Interim Chairman Claire Milne said.

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