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INTRALOT’s Annual General Meeting 2021

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INTRALOT’s Annual General Meeting 2021
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INTRALOT’s Annual General Meeting took place on Tuesday, June 29, 2021 presenting the corporate figures FY2020, the business developments, the Lock-up Agreement for the senior unsecured notes due 2021 and 2024, the Strategy and the growth opportunities following the completion of its capital restructuring and changes of the company’s operational model.

INTRALOT Group Chairman and CEO, Mr. Sokratis Kokkalis stated:
“Following extensive negotiations, the company has achieved a significant agreement to refinance its senior unsecured notes due 2021 and to deliver an important deleverage. This is a very important agreement, the successful completion of which, will enable INTRALOT to capitalize on business growth opportunities in the gaming technology industry, and especially in the USA. The main goal of the company for the achievement of the agreement with the bondholders, was to serve the interests of all stakeholders, including all groups of bondholders and shareholders.»

With reference to the announcement of June 28, 2021, Mr. Kokkalis said “With the interim loan facility agreement of €147.6 million and redemption announced yesterday, the participation limits are reached in order for the agreement with the bondholders to be executed in a consensual manner, without recoursing to court proceedings. The new loan to be issued by INTRALOT Inc., will be denominated in dollars and respectively adjusted interest rates to fully hedge the foreign exchange risk.»

Referring to the business developments of the company, Mr. Kokkalis stated “Following our recent announcement, the Group’s results for the first quarter were extremely good and we expect that the results for the second quarter will be just as good and according to the business plan, giving INTRALOT the opportunity to strengthen its position in strategic markets through the utilization of its technology and experience in the gaming industry.

Our main priority is now our subsidiary in North America, which has brought the best results to the Group and participates in its debt restructuring, as well as the exploitation of opportunities in other developed markets where the Group has comparative advantages leveraging in our experience and new product portfolio.

Finally, I would like to thank our employees and all partners for their resilience and perseverance, in order to reach an agreement with the Bondholders.”

During the Annual General Meeting, the election of a new Board of Directors was approved, among others, with the election of two new members, Mrs. Adamantias Lazari and Mrs. Konstantina Xirokosta, the appointment of its independent members, the suitability policy of the members of the Board of Directors, as well as the formation, composition and tenure of the new Audit Committee

Compliance Updates

Ensuring Integrity: The Role of Assurance in the Gambling Industry

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Ensuring Integrity: The Role of Assurance in the Gambling Industry
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By Salvador Garcia-Noblejas, Senior Regulatory Assurance Services at ComplianceOne Group

The gambling industry has its origins in the ancient period, and different types of games are found in almost every culture and civilization.

Over the last few years, we have witnessed an immense transformation, clearly boosted by technological developments. Among these changes, online gambling has grown rapidly, and with this new non-face-to-face reality, regulation and regulators have also embraced new ways to protect players, businesses, and the overall economy. Regulators have the responsibility to set the framework of common rules that define what is right and wrong, the means to protect all parties, and the tools that must be used when anyone does not behave as expected.

Assurance in a world of global risks

It would be inaccurate to assume that regulatory assurance’s only goal is to ensure that operators operate in a fair and transparent manner and meet their legal obligations. On the contrary, assurance also includes helping businesses understand the risks involved in the industry where they operate, analysing their strengths and weaknesses, and setting measures to mitigate those risks.

Assurance’s starting point consists of an interview phase where tailor-made questionnaires serve better understanding the reality to each operator and its actual circumstances. Once the assurance assessment is complete, a detailed action plan assists the operator in fixing any identified gaps, improving policies and procedures, and obtaining the maximum financial gain from refining their processes, products, and operations.

As part of the fast transformation of the gambling industry, with competitive new products, platforms, advertisements, and market expansion, we must not forget that bad actors and illegal practices also develop. This is the moment to ask ourselves if we are ready to face whatever can harm our operations. The most efficient way to know is carrying out a thorough audit of policies, procedures, and processes. This approach will certainly save operators from potential harm to their clients, products, brands, and finances.

Audit readiness

Regulators focus on legislation, supervision, and enforcement. All stakeholders must comply with gambling regulations if they want to offer products and services or provide a safe environment to their clients. An important part of the gambling legal system is the fact that the industry is continuously overseen to ensure that all actors adhere to the established rules. At this point, operators need to ask themselves how ready they are to show sufficient evidence that their operations adhere to the law.

Smart operators will choose to comply with as many rules and regulations as their business is capable of, and they will ensure that records are properly kept. Company leadership is essential in ensuring compliance as it contributes to collaboration between departments and having policies and procedures that make the business run within the parameters of the legislation.

Lessons learned

In recent years, some highly publicized enforcement actions, including fines and penalties, license suspension, and revocation, have alerted the whole gambling industry. From such cases, there have been increasing efforts in reviewing processes, improving systems, and growing compliance departments.

Experience in the gambling industry has taught us that it is crucial to have a detailed understanding of the regulations that govern the relationship between operators and players. Where knowledge has been insufficient, inaccurate, or out of date, some business decisions have led to unwanted consequences, sometimes catastrophic ones.

Knowledge, a solid compliance culture, strong procedures, and willingness are the formula to be ready for a regulatory audit.

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Soft2Bet Announces 2023 Financial Results

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Company’s strong growth driven by Motivational Engineering Gamification Application (MEGA), sports betting, and geographic expansion.

Soft2Bet, a leading B2B casino and sportsbook platform provider, today released several key metrics demonstrating impressive company growth in 2023. Soft2Bet’s revenues grew steadily in 2023, as the company’s focus on expansion in regulated markets and highly gamified products enabled it to deliver its strongest year to date. For 2023, the company recorded an audited growth of 46% in gross revenue across its B2B and B2C operational areas. This corresponds to a 207% increase in EBITDA from the prior reporting period.

These results were driven by several factors, including the introduction of Soft2Bet’s gamification solutions known as Motivational Engineering Gamification Application (MEGA), which have proven to significantly increase Gross Gaming Revenue (GGR) by more than 60%, player engagement and average revenue per user (ARPU) by 70% for the company’s partners.

Other contributing factors include strong growth in the company’s sports betting solutions, which saw a revenue increase of 300% in 2023, and expansion into a number of regulated markets with new licenses in Sweden, Greece, Romania and Italy.

Uri Poliavich, CEO and founder of Soft2Bet, commented: “With our MEGA solutions and ambitious expansion strategy, 2023 was an incredible year for our family at Soft2Bet. I have no doubt we’ll continue to see strong growth in 2024 as we innovate our gamification engine. We are already developing partnerships with new and old friends, expanding into North America, and delivering more game-changing solutions for our partners this year.”

In 2024, Soft2Bet will focus on further expanding its presence in Europe and North America. The company looks forward to entering the US market in New Jersey, as well as expanding into Portugal and Ontario, Canada and Mexico over the course of the year.

Soft2Bet’s primary focus remains on enhancing its MEGA technology. Powered by a robust tech stack, this solution consistently boosts engagement, volumes, and revenues by providing unparalleled personalization and tailored user experiences. Innovation remains at the core of the company’s philosophy, and going forward it will look to integrate AI and other new technologies to enhance and inform new features.

 

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North Star Network acquires SportsMole.co.uk

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North Star Network are delighted to confirm the successful seven-figure sum acquisition of SportsMole.co.uk, whichbecomes its first significant investment of 2024 and the latestaddition to NSN’s sports media portfolio.

With over a decade of online heritage, and seven million sessions monthly, SportsMole becomes one of the flagship assets in North Star Network’s family of over 30 sportsm edia sites globally.

The latest addition to the NSN portfolio joins existing media properties including Top Mercato, Afrik-Foot, Trivela, Premier League Brasil, and Vringe to expand North Star’s international footprint while providing a strong home for our UK-focused coverage.

North Star Network co-founder Julien Josset said: “I want to thank Alan Jay and Neil Wilkes for their trust.

SportsMole is a well-known sports media brand in the UK and many other English-speaking countries. Our ambition is to take this brand to the next level, by refining the editorial product, migrating to a new platform, and diversifying the
monetization sources to make it a sustainable asset for North Star.”

Founded in 2011, SportsMole is a sports news site delivering the latest breaking news and results from multiple sports, with a specific focus on football.

As well as providing coverage for the UK audience, SportsMole also enjoys a readership across the Anglophone world, with significant visibility in Africa and the United States.

SportsMole founders Alan Jay and Neil Wilkes said: “We are thrilled to conclude an agreement with North Star for the acquisition of SportsMole.co.uk. They have a proven track record of working with the biggest sports brands around the world, have a wealth of talent and experience at their disposal, and we are confident that they will take SportsMole.co.uk onwards to the next level in the years to come.”

NSN are excited to work with the SportsMole legacy team, who have demonstrated their ability to consistently reach a broad audience with their predictions and match coverage, and are excited to develop the site using their creative, data driven approach to sports media.

North Star Network is a leading sports media group, operating sports brands across 30 countries. With a headcount of 85 people, the company is headquartered in Paris, with offices in Lille and Sao Paulo.

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