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Better Collective establishes new Management Incentive Plan for management and key employees of Action Network

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Better Collective reflects on the initiatives from the ongoing UK Gambling Act review and expects limited to no financial impact
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The board of directors (the “Board”) of Better Collective A/S has today decided to implement a new management incentive plan (the “MIP”) for the management and certain key employees in Action Network in the form of performance share units and share options.

The MIP has been designed by the Remuneration Committee and approved by the Board in Better Collective A/S with the focus to appropriately retain, motivate and reward the management and selected key employees in Action Network and to further align interests between participants in Action Network with those of Better Collective A/S’ shareholders. Better Collective’s management and Board has found it important to install a new MIP following the acquisition as the MIP replaces prior incentive programs that lapsed in connection with the recent acquisition of Action Network. The key performance drivers of the program are the financial forecasts for Action Network on revenue and EBITDA that were presented as part of the acquisition.  The MIP covers a grant of 473,563 performance share units and 201,238 share options to 20 employees in total.

The duration of the MIP is 3 years. The 3-year value of the program is 12 mUSD (Black-Scholes value) measured at the maximum level, which is to say 100% achievement of the business plan. The cost of the program (Black-Scholes value) will be expensed under Special Items during the vesting period. When the program ends after the 3-year period, Action Network participants will be included in Better Collective’s broader Long Term Incentive Program.

The MIP will have no dilutive effect on Better Collective A/S’ shareholders, since Better Collective A/S intends to initiate share buy-back programs to meet its obligations under the MIP.

The details of the plan are disclosed according to the rules of Nasdaq Stockholm, and can be found in the attached Appendix 1.

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Amusnet Participates as Golden Sponsor in Bulgarian Diversity Charter’s Annual Meeting

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Amusnet has participated as a golden sponsor in the Bulgarian Diversity Charter’s annual meeting this May, organised by the Bulgarian Business Leaders Forum (BBLF) and the Centre for the Study of Democracy (CSD).

The event attracted more than 90 representatives from the Charter community. Official guests were Lazar Lazarov, Deputy Minister of Labour and Social Policy, Assoc. Prof. Ana Dzhumalieva, Chairperson of the Commission for Protection against Discrimination; Dimitar Markov, Director of the Legal Programme of CID; and Levon Hampartzoumian, Chairman of BFBL.

The meeting served as a powerful platform, uniting businesses and organisations dedicated to advancing workplace diversity and inclusion. This year’s gathering focused on the importance of values, featuring insightful discussions, invaluable networking opportunities and a prestigious ceremony with companies recognised for their unwavering commitment to these principles.

The Deputy Minister of Labour and Social Policy gave a compelling speech on the importance of diversity and inclusion in today’s business landscape. He also participated in the certificate presentation ceremony, where over 30 were honoured with membership certificates. These new members join a community of forward-thinking organisations that advocate for various perspectives and fairness in Bulgaria and beyond.

The Charter encourages adopting inclusiveness, fostering a more welcoming business environment. It provides a platform for organisations to share best practices and collaborate on initiatives that promote equality and respect for all individuals, celebrating the richness of diverse perspectives and experiences.

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Latest News

Yggdrasil boosts UK presence with Lottomart launch

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Yggdrasil boosts UK presence with Lottomart launch
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Yggdrasil, a leading iGaming publisher, has further enhanced its reach in the UK market after rolling out its extensive slot portfolio with Lottomart.

The operator now has access to Yggdrasil’s entire games offering which has been curated for over 10 years and encompasses a diverse selection of titles with proven themes, mechanics and features.

Fan favourites include the hit Vikings series and newly released Gold Frontier Jackpots FastPot5 and Ragnaravens WildEnergy. Exclusive titles from the YGG Masters programs and slots incorporating Yggdrasil’s high-performing Game Engagement Mechanics (GEMs) have also been rolled out.

Lottomart is a leading UK online gaming operator, offering a varied range of products including over 2,500 casino games, lottery betting, and unique scratch cards.

The partnership sees Yggdrasil reach new audiences and cement its presence in Europe’s largest online gaming market where its portfolio has been available since 2016.

Jose Simon, Commercial Director at Yggdrasil, said: “The UK remains a key market for Yggdrasil with our games resonating well with local players and together with Lottomart, we’re able to introduce our award-winning titles to even more slot fans.

“Lottomart offers its customers a leading online casino with an array of games from the best providers in the world and we are thrilled to join their list of trusted partners.”

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Compliance Updates

MGA Provides Information on Updates Made to Audit/Review Process

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The Malta Gaming Authority (MGA) has provided information to its Approved Audit Service Providers and current and prospective licensees about the updates made to the Audits section on the Authority’s portal, and the related Audit/Review process.

“The Malta Gaming Authority (the Authority) would like to inform its Approved Audit Service Providers and current and prospective licensees of minor updates made to the Audits section on the Authority’s portal, and the related Audit/Review process. The following information outlines the considerations to be made for the auditing process, and the submission of reports for any of the System Audits, System Reviews and/or Compliance Audits engagements, hereinafter referred to as the ‘Audits’.

“After receiving approval from the Authority, the appointed Service Provider has sixty (60) days to complete System Audits and System Reviews, and ninety (90) days for Compliance Audits. The completed Audit report must be submitted electronically through the Authority’s portal. Should the appointed Service Provider identify any instances of non-compliance during this review period, the licensee should be notified, and the licensee is strongly encouraged to address and rectify any identified issues within their documentation and/or systems throughout the Audit period.

“In such circumstances, the Approved Service Provider must conduct fresh audit checks of the identified non-compliances and appropriately mark such checks within the Audit Report as ‘Resolved at Audit Stage’, if deemed to be compliant. Furthermore, the ‘Partially Compliant’ status can be used if an audit check is found to be partially compliant with the Regulations.

“In view of these changes, the Authority has added two new External Audit Conclusions statuses, these being ‘Resolved at Audit Stage’ and ‘Partially Compliant’, for the Service Providers to be able to report the Audit findings accordingly.

“Should there be any instances of non-compliance which cannot be resolved within the Audit deadline, the licensee may request a one-time extension of the Audit deadline to resolve and re-audit the identified systems and/or documentation issues. The request of such an extension would need to be accompanied by a summary of the issue/s, and a plan of rectification. The extension is at the Authority’s discretion, the time-frame of which shall be determined by the Authority.

“It is important to note that the Authority retains the right to reject an Audit Report if it is unable to arrive at a conclusive review outcome due to a significant number of instances of non-compliance.”

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