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LL Lucky Games AB signs Letter of Intent to acquire ReelNRG

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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.

“Through 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. This 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.

“To 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 Games”, says Calvin Kent, CEO of ReelNRG.

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Betswap.gg Ranked as the Best Web3 Sports Betting Site | by dAPP Radar

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Betswap.gg, the revolutionary peer-to-peer sports betting exchange, has made the number one spot as the “Top Polygon Gambling App” in crypto betting on dApp Radar’s ranking page relative to other blockchain companies based on their trading volume in the past 24 hours, 7 and 30 days.

Betswap.gg launched the beta version of their sports betting site only two and a half months ago. They have since brought in $2.2 million in trading volume across more than 18,000 bets, taking them to the top spot on the leaderboard in an impressively short period of time. According to dApp Rader, in the last 30 days, Betswap.gg has brought in $1.34 million dollars in trading volume and a huge $885.39k in the past seven days on the Polygon chain.

In addition to this, dApp Radar has put Betswap.gg in position number 2 across chains in the category “Top Gambling dApps” in the past seven days, with their trading volume currently standing at $886.88k.

In a short period of time, Betswap has proven to be a leader in the decentralised sports betting scene, posing a real threat to competitors and other protocols planning to join the space, some of whom have recently come under pressure by their community and labeled as a “centralised betting exchange” after requiring users to give personal information to use the app. Betswap is a fully trustless and permissionless platform with no KYC needed, which is preferred by native crypto users. Betswap.gg also does not take custody of users’ funds at any point, allowing players to place individual bets directly from their wallets and withdraw their winnings seamlessly, safely, and instantly.

Betswap Chief Marketing Officer, Thawfeek Ameen said, “there are many reasons that Betswap is the most suitable crypto sports betting app in the industry, including the fact we are EVM-Compatible and do not rely on one single chain to be functional, unlike other platforms. We also do not require personal details of our users; we are fully trustless and permissionless as well as being fast, reliable, and easy to use”. He continues, “We have also decided to give away up to $25,000 during the FIFA tournament, it is our first World Cup on the platform, and we want to show appreciation to the users who have allowed us to do so well in such a short period of time.”

The rating from dApp Radar comes during the FIFA World Cup 2022, reinforcing that Betswap is the best choice for dedicated Web3 sports betting customers in this tournament. Signing up is simple, with users just having to connect their Metamask Web3 wallet to the site, and with a few clicks, they are ready to start placing bets or acting as a bookmaker. During the games, Betswap has created a live betting feature, that allows users to easily follow what’s happening in each game in real time, making the betting experience even more unique and immersive.

You can join in all the sports betting fun during the FIFA here and learn more about the cash giveaway.

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IESF Held Presidential Elections During World Esports Championships Finals

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IESF Held Presidential Elections During World Esports Championships Finals
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The International Esports Federation (IESF) held its 15th General Assembly (OGM) during the World Esports Championships Finals in Bali, Indonesia, on December 6, 2022. 126 delegates from 112 countries took part in the largest-ever IESF General Assembly.

At the OGM, the presidential and board member elections for the next three-year term were conducted today in Bali, Indonesia. Vlad Marinescu was re-elected as president with 65 votes, 0 against in a secret ballot vote and 4 abstentions,  in his favor. United Arab Emirates’ candidate and board member Sheikh Sultan Bin Kalifah Al-Nahyan withdrew from his candidacy before the vote. Marinescu first stepped into the role of President in 2019 and was re-elected in December 2020.

IESF is the only international esports federation that holds democratic elections every three years. At the OGM, IESF elected and welcomed three new board members; Flip de Bruyn from Namibia, Lance Mudd from the United States, and Lukasz Klimcyzk from Poland, and re-elected for second term Tiago Fernandes from Portugal and Constantine Surkont from Russia.

President Vlad Marinescu said: “I am thrilled to be re-elected as president of IESF. My goal is to unite the whole esports family and push esports even further. I thank you for your trust, and I promise you that we can and we will create even bigger and better things in esports. I couldn’t have done this without all of you, so let’s continue to be united and change the world.”

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PressEnter group launches CasinoFest brand

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PressEnter group launches CasinoFest brand
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Operator’s latest online casino brand delivers a modern, engaging player experience thanks to its bold and striking design

PressEnter Group is looking to disrupt the online casino space with its latest brand launch, CasinoFest.

The sleek and stylish design has been inspired by the fun, passion and excitement that typically surrounds music festivals. This, together with a functional and easy to use UX/UI design, provides a next-generation casino experience across desktop and mobile.

This makes CasinoFest a challenger brand that promises to deliver a great encounter to players in numerous markets across the world.  It will also stand out against rival brands on the affiliate sites that PressEnter Group works with thanks to its bold branding.

CasinoFest is the latest addition to PressEnter Group’s growing roster of player-favourite online casino brands that includes 21 .com, JustSpin, NeonVegas Casino, NitroCasino, UltraCasino, RapidCasino.

Axel Munkeby, Commercial Director at PressEnter Group, said: “CasinoFest is a new online casino that delivers a next-gen player involvement thanks to its impactful design, meticulously planned player journey and the huge selection of slots and games available to players”.

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