Latest News
Gaming Innovation Group completes SEK 100 million directed share issue
Gaming Innovation Group Inc. (“GiG” or the “Company”) today announces that the Company successfully has completed a directed share issue of approximately SEK 100 million from several well-renowned, long-term institutional investors (the “Share Issue”).
Participants in the Share Issue also includes:
- Jonas Warrer (CEO of GiG Media) and
- Richard Carter (CEO of GiG’s Platform & Sportsbook).
The Company sees the Share Issue as an opportunity to broaden the shareholder base with high-quality investors, increase alignment among key executives and shareholders, as well as obtaining additional capital.
The Board of Directors of GiG has today resolved on an issue of 3,226,418 shares directed to certain new investors and existing shareholders. Participants in the Share Issue were i.e. Jonas Warrer (CEO of GiG Media), Richard Carter (CEO of GiG’s Platform & Sportsbook), Agerskov Kapital (investment vehicle for the founder of Traffic Lab), Knutsson Holding, Prioritet Finans, the Juroszek family and certain other well-renowned, long-term institutional investors investors.
The Share Issue is based on the general authorization to the Board of Directors under the 150,000,000 authorized shares, approved by the Special Meeting of Shareholders on 20 January 2022. The rationale for the Share Issue is to (i) broaden the shareholder base with new well-renowned investors (ii) increase alignment among key executives and shareholders, and (iii) obtain additional funding to secure working capital for the Platform & Sportsbook business prior to the planned split of the Company as well as general corporate purposes in a time- and cost-efficient manner.
The Company will receive approximately SEK 100 million (EUR 8.8 million) in gross proceeds from the Share Issue, before deduction of transaction costs. The subscription price has been set to SEK 31 per share as a result of negotiations on an arm’s length, which corresponds to a 1.3 percent discount compared to the closing price of the Company’s share on Nasdaq Stockholm today and equal to the average volume-weighted price of the Company’s share on the Nasdaq Stockholm over the past 10 trading days. GiG’s Board of Directors’ assessment is that the Share Issue was carried out on market terms.
“We have seen a lot of interest to increase the shareholding in GiG from existing investors and key executives, but also from new external parties. We are of course delighted that so many well-renowned investors share our view of growth opportunities going forward, and we are now better equipped to accelerate our growth both organically and through strategic acquisitions. Also, I am very pleased to see that our key executives are further aligning their interest with the shareholders’ by doing considerable investments themselves,” says the Chairman, Mikael Riese Harstad.
After the registration of the Share Issue, the total number of shares in the Company will amount to 134,406,520 shares. The Company’s share capital will increase with USD 3,226,418 to USD 134,406,520. The Share Issue will result in a dilution of approximately 2.4 percent of the number of shares in GiG.
ABG Sundal Collier acted as sole financial advisor and bookrunner in connection with the Share Issue. White & Case acted as legal counsel.
For further information, please contact:
Tore Formo, Group CFO, [email protected]
This information is information that Gaming Innovation Group Inc. (GiG) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact person set out above, at 21:30 CET on 4 June 2024.
Latest News
7-Eleven selects Jackpot.com as their official lottery partner
Online Lottery Courier Service Jackpot.com Announces Exclusive Collaboration with 7-Eleven, Inc.
Jackpot.com will serve as the official lottery courier service of 7-Eleven, Inc., initially launching in Ohio and Massachusetts
Jackpot.com – the online lottery courier service that allows consumers to purchase official state lottery tickets on their phone, tablet, or computer – announced today an exclusive collaboration with 7-Eleven Inc., the largest convenience store chain in the world, to serve as their official lottery courier service.
As part of the collaboration, 7-Eleven customers in Ohio and Massachusetts will be able to sign up and play lottery games and scratchers on the Jackpot.com app or website. The program will initially be launched in over 600 7-Eleven and Speedway stores in Ohio and Massachusetts, with a special launch promotion that gives 7-Eleven customers a free lottery ticket on their first deposit by using promo code, “7Eleven”.
“We’re thrilled to work with 7-Eleven, the leading retailer of lottery tickets in the country,” said Akshay Khanna, CEO and co-founder of Jackpot.com. “Leveraging our technology and innovation, we can provide additional convenience for their customers, while adding an additional source of revenue. A true win-win relationship for all.”
By launching in Ohio and Massachusetts in 2023 and 2024, respectively, Jackpot.com aims at adding another avenue for player convenience with one of the most widely recognized brands in the convenience-retailing space. With a presence in Ohio, the nation’s seventh-largest lottery market, and Massachusetts, whose state lottery produced $1.2 billion in net profit for the Commonwealth during the 2024 fiscal year, Jackpot.com’s collaboration with 7-Eleven represents an added layer of accessibility for players.
Jackpot.com remains committed to responsible play and has significantly invested in protocols by allowing customers of legal age to set spend limits and limits on daily deposits, all while providing access to local and national responsible gambling resources, self-exclusion, self-suspension and automated notifications that offer help should problematic behavior be detected. Jackpot.com is also the only lottery courier service to launch with an iCap certification from the National Council on Problem Gambling.
To learn more, visit jackpot.com. First-time users can also download the official Jackpot.com Lottery App on the iOS or Android App Stores, where available.
eSports
The World Esports Summit 2024 Is Here!
The IESF World Esports Summit returns this December to Busan, South Korea. Hosted at the Busan Esports Arena (BRENA) from December 5-6, the Summit will bring together prominent figures from Esports, global brands, government officials, and sports executives for a deep dive into the current Esports trends, its rapid transformations, and future challenges.
This year’s theme, “Building Bridges, Not Barriers, Through the Power of Esports,” will highlight the role of Esports in uniting cultures, ideas, and industries. Under the slogan “We Empower Success,” the
Summit provides a great platform for Esports experts to engage in meaningful discussions and sessions, sharing their insights on trends and presenting forward-looking ideas for our industry.
The event, strategically timed at the close of the competitive season, presents a perfect environment for reflection on the year’s biggest events, industry shifts, and the next steps for Esports. Attendees can follow the expert’s perspectives on topics like:
- (R)Evolution in Esports
- East Meets West
- Esports Integrity: The Role of Referees
- The Rise of International Esports Competitions
- (In Korean) Korea’s Secret Sauce etc.
Also, featured at this year’s event are the IESF World Esports Training Camp and the World Esports Referee Academy.
These are very important IESF programs that are aimed at advancing the skills and professional standards of the next generation of Esports leaders.
Join us in Busan for two days designed to inspire, connect, and empower the international Esports community.
Registration for the World Esports Summit is free and open to all interested attendees.
To register, please complete our online registration form: iesf.formstack.com/forms/wes2024_participation_registration
See you in Busan!
eSports
Akhil Sarin CMO at Easygo named as key note at ICE Esports Conference
Clarion Gaming has confirmed that Akhil Sarin CMO at Easygo, the technology powerhouse behind the success of global brands Stake and Kick will headline the Esports & Games Conference (EGC) taking place on 21 January as part of the ICE Barcelona experience. As a key member of the executive team, Akhil Sarin has been instrumental in securing the high-profile partnerships that have accelerated Stake’s growth, including the Stake F1 team, UFC, Drake, and Premier League Everton FC.
Through these strategic alliances he has amplified Stake’s brand presence at the same time as creating unique, immersive player experiences, in the process setting new industry benchmarks.
Announcing the high profile speaker Will Harding, Head of Esports at Clarion Gaming said: “Securing Akhil Sarin as EGC key note at ICE Barcelona represents a remarkable opportunity for our attendees to gain invaluable insight into cutting-edge strategies in digital and influencer marketing .
“Akhil’s expertise with Stake and Kick.com embodies the forward-thinking, innovative approach that defines the digital marketing landscapes. His participation underscores the calibre of knowledge-sharing that we are committed to delivering at ICE and he is sure to both inspire our attendees and elevate their strategic perspective.”
Looking ahead to ICE Barcelona, Akhil Sarin stated: “Collaborating with Clarion Gaming at ICE Barcelona is an exciting opportunity to showcase Stake’s journey and continued focus on bold partnerships and creative marketing strategies that resonate with audiences.”
He added “The EGC is a vital platform for exchanging transformative ideas and shaping the future of gaming and entertainment. I look forward to discussing Stake’s vision and collaborating with industry leaders to inspire growth and innovation across the sector.”
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