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LL Lucky Games AB signs Letter of Intent to acquire ReelNRG
LL Lucky Games AB (publ) signs Letter of Intent (LOI) with the intention to acquire ReelNRG and thus add 46 new games and secure important licenses in the UK and Malta.
ReelNRG Limited is a London based game studio group with companies and operations in the United Kingdom and Malta. The company was founded in 2016 by Calvin Kent and Harsharan Gill and among the co-owners are several reputable investors with extensive knowledge in the sector such including Klein Group (Cherry, Yggdrasil and Coolbet and the ComeOn Group). ReelNRG has a staff of nine, of which eight are developers based in India.
With its own development studio in Hyderabad, India, ReelNRG has developed and built its own technology and established a strong distribution in the UK and other regulated markets under UKGC, MGA and Gibraltar licenses. At present, ReelNRG’s portfolio consists of 46 games and over 30 integrations.
ReelNRG will continue to operate independently. However, LL Lucky Games AB (publ) sees great synergies in the form of cross-selling, cost optimization and the opportunity to share technology and licenses in the future. The parties have agreed that the purchase price shall consist of 2 500 000 newly issued shares that will be issued in a set-off issue carried out at a share price of SEK 3.30. This should be seen in relation to the Company’s total number of outstanding shares as of after issuing shares to ReelNRG shareholders amounting to 51 366 506.
The parties intend to complete the transaction during April following the customary documentation process.
âThrough the acquisition of ReelNRG, we secure important customer integrations and licenses for the LL portfolio. As a merged company, we now operate over 100 games and will be able to derive great mutual benefits from both the commercial synergies via cross-selling, but also on the cost side. âThis is a big step for LL Lucky Games, which further consolidates our position as a truly independent gaming studio who focus on the regulated markets. To operate via own licenses secures larger revenue shares and market reach. We look forward to welcoming Calvin and his team together with Klein Group and the other shareholders in ReelNRG”, says Mads V. Jørgensen, CEO of LL Lucky Games.
âTo get LL Lucky Games as the new owner of ReelNRG marks an important new start for us. The additional support from LL Lucky Games will bring us back stronger than ever and enable an improved delivery of our entertainment packages to our clients and their customers. Our new server infrastructure has now been completed and optimized and is ready to scale. Our team and our shareholders are super motivated to continue running the business as part of LL Lucky Gamesâ, says Calvin Kent, CEO of ReelNRG.
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Win tickets to the BLAST Premier Fall Final: GG.BET is running a MEGA BLAST Competition for fans of ĐĄS2
From 26 July, all GG.BET users can get involved in the new MEGA BLAST Competition with a âŹ10,000 prize fund. The winner will receive two tickets to the BLAST Premier Fall Final CS2 tournament, taking place from 27-29 September in Copenhagen. To enter, you need to place bets on Counter-Strike 2 matches.
BLAST Premier Fall is a major series of Counter-Strike 2 tournaments which draws in millions of viewers from all over the world every year. The series consists of three stages: Groups, Showdown, and Finals. The Groups stage sees 16 Tier-1 teams duke it out. Only 6 of these can go on to compete in the final, while the rest will battle it out in the Fall Showdown for two additional spots in the final. BLAST Premier Fall Finals will be the concluding stage of the Fall series, and fans can look forward to electrifying action, heart-stopping twists and turns, and an epic $425,000 prize fund.
From 26 July to 4 August, as the Groups stage rages on, GG.BET will be holding its MEGA BLAST Competition. The winner will get their hands on two tickets to attend every day of the BLAST Premier Fall Finals. As well as these tickets, the bookmaker is also giving away a whopping âŹ10,000 prize fund to the top 40 participants in the MEGA BLAST Competition.
How to take part in the MEGA BLAST Competition:
- Register an account with GG.BET or log in to an existing account.
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MANCHESTER CITY TO MARK GLOBAL PARTNERSHIP WITH SUPER GROUP-OWNED BETWAY AT THE NEW YORK STOCK EXCHANGE
Manchester City has today announced a new multi-year partnership with leading global online betting and gaming brand, Betway.
As part of the clubâs pre-season tour of the United States, and to mark this significant deal, leading figures from Manchester City and Super Group will be on-site for the iconic NYSE bell-ringing ceremony later today. Ferran Soriano, CEO of City Football Group, along with Neal Menashe, Super Group CEO, will ring The Opening Bell at 9:30am EDT.
The agreement will see Betway become the clubâs Official Global Betting Partner from the start of the 2024/25 season, as Manchester City joins the brandâs extensive sports sponsorship portfolio which includes teams from across the Premier League, La Liga, NBA and more.
Ferran Soriano, City Football Group CEO, said: âWe are pleased to announce Betway as our Official Global Betting Partner today. As a globally recognised brand, Betway has a strong pedigree and history of working with high-profile brands within the sports space and weâre excited to work together throughout the partnership.â
Super Group CEO, Neal Menashe, commented: âWe are absolutely delighted to become Manchester Cityâs Official Global Betting Partner. This agreement cements our place in the top tier of Premier League partners, ensuring that our Betway brand reaches fans in all corners of the globe.â
Throughout the duration of the partnership, Manchester City and Betway will collaborate on a number of activations and exclusive content opportunities, in addition to the brand featuring across digital and in-stadia assets.
Manchester City and Betway will also work together to provide all players, coaches, management and staff in-depth, industry leading training on all relevant codes of conduct relating to betting integrity and responsible gambling. This is in addition to the work Manchester City already does to support players and staff in this area.
The Opening Bell ceremony can be viewed live.
Compliance Updates
Acquiring a Curacao Online Gaming License in 2024: Comprehensive Analysis of Financial & Procedural Aspects with Costs & Timelines Detailed
The “Acquiring a Curacao Online Gaming License, 2024: Comprehensive Analysis of Financial & Procedural Aspects with Costs & Timelines Detailed” report has been added to ResearchAndMarkets.com’s offering.
This report includes valuable insights into the financial and procedural aspects, including detailed information on costs and timelines associated with acquiring a Curacao license.
In 2023, Curacao introduced the “Landsverordening op de kansspelen” (Ordinance on Games of Chance) to modernize and regulate gambling legislation. Since March 2020, the Gambling Control Board (GCB) has been authorized to regulate offshore gambling games and oversee the issuance of Curacao licenses. As of 2023, there are 16 companies providing legal services for registration and licensing in the territory of Curacao. The license fee, as per GCB regulations, is 36,000 ANG or 19,800 USD, payable upon license issuance.
Research Timeline and Data Relevance
The research was conducted in two stages. The first stage, studying the regulator and Open Data Search, took place in December 2023. The second stage, writing the report and partially updating the data from the first stage, took place from the end of April to the end of May 2024.
Goals and Objectives
- Describe the information about the Curacao license and the issuing regulator.
- Describe the requirements and conditions for obtaining a Curacao license.
- Describe the costs and timelines for obtaining a Curacao license.
- Briefly study the market, find and suggest the following lists:
- Legal companies offering services for company registration and obtaining a Curacao license;
- Communication agents and integrators working with the Curacao license;
- Suppliers and vendors working with the Curacao license;
- Payment systems working with the Curacao license.
Key Topics Covered:
1. Goals and Objectives
2. Research Timeline and Data Relevance
- Document Markup
- Raw and Combined Data
- Terms & Glossary
3. General Information
- The Regulator
- Registration of Operators With Sublicense
- Application for an Online Gaming License
4. Requirements and Conditions for Obtaining a License
License Conditions
- General Prohibitions
- Safe and Secure Environment
- Equipment and Application Software
- Player Registration
- Payment Transactions
- Games
- Terms of Use
- Resolution of Complaints
- Administrative Responsibilities
- Publicly Available Information
- Reports
- Policies and Procedures
- Suspension and Revocation of License
- Additional Conditions
- Supervision
Recommendations or Minimum Requirements for the Business Plan
5. The Cost of the License
6. Decision Term and the Validity of the License
7. Application Method and Forms
8. Contact Information
9. Companies for Registration and Licensing
10. Integration Companies
11. Suppliers and Vendors
12. Payment Systems
13. META
14. Appendix: Terms & Glossary
For more information about this report visit researchandmarkets.com/r/izeo6g
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