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The Board of Scout Gaming Group has decided to conduct a directed rights issue of 900,000 shares

George Miller

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The Board of Scout Gaming Group has decided to conduct a directed rights issue of 900,000 shares
Reading Time: 2 minutes

 

The Board of Scout Gaming Group has decided to issue a new issue of 900,000 new shares to institutional investors. The new issue was signed by Swedbank Robur, which after the Rights Issue becomes a significant owner with 1 180 000 shares (8.88% of the share capital after the Rights Issue). Existing shareholders in the form of Novobis AB, Knutsson Holding AB, Isoquant Holding AB, Naxs AB and Lars Wingefors AB subscribed also subscribed for shares in the rights issue. The subscription price per new share amounted to SEK 47.

 

The Board of Scout Gaming Group decided to conduct a rights issue of 900,000 new shares to institutional investors. The rights issue was subscribed for by Swedbank Robur, which after the Rights Issue becomes a significant shareholder with 1 180 000 shares (8.88% of the share capital after the Rights Issue). Existing shareholders consisting of Novobis AB, Knutsson Holding AB, Isoquant Holding AB, Naxs AB and Lars Wingefors AB also subscribed for shares in the rights issue.

The subscription amounted to SEK 47. Through the Rights Issue, Scout Gaming will receive proceeds of approximately SEK 42 million before issue costs. The subscription price represents a discount of approximately 0.6% compared with the closing price of the Scout Gaming Group share on October 29, 2018.

The reason for deviating from the shareholders’ preferential rights through the implementation of a directed new issue is to ensure, in a cost-effective and timely manner, funding to enable completion of the Company’s expansion in the US market, where the Company recently entered into two partnership agreements (Milestone Entertainment and Metric Gaming), and to ensure the Company’s financial ability to expand its operations in existing and new markets.

 

For additional information, please contact:
Andreas Ternström, CEO, Scout Gaming
Tel: +46 706 770 660
E-mail: andreas.ternstrom@scoutgaminggroup.com

Billy Degerfeldt, CFO, Scout Gaming

Tel: +46 707581668
E-mail: billy.degerfeldt@scoutgaminggroup.com

About Scout Gaming Group:

Scout Gaming Group is a licensed and regulated provider of B2B Daily Fantasy Sports and pool betting. The company offers a flexible and customizable network based Fantasy Sports solution with support for most sports and leagues through an in-house statcenter which also provides real-time information to players. Local sports can be provided on request. The Group has approximately 70 staff and is headquartered in Stockholm, Sweden with development and operations in Bergen, Norway and Lviv, Ukraine. Sales, support and product management is handled from the office in Malta. Scout Gaming is listed on Nasdaq First North.

George Miller started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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New partnership of EGT Interactive with the esteemed operator Videoslots

George Miller

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New partnership of EGT Interactive with the esteemed operator Videoslots
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We are delighted to announce that the high value casino operator Videoslots has integrated our well-known and preferred content. This partnership has a big importance for our company as it gives us the opportunity to strengthen our positions as a leading provider in territories with big potential. As a first step we will launch our high-quality content in the so called .com territories, covered by our new partner.

Todor Zahariev, the Managing Director of EGT Interactive, commented: “As an ambitious company we are very proud, that Videoslots put faith in our reliable and top-notch content. This partnership is a strategic step, as in accordance to our long-term development strategy to enter new markets, we are expecting our successful partnership to expand also in Sweden. Territory, which we consider as top priority. Sharing common values such as security, excellence, integrity and passion, we believe that we will be a great partner for Videoslots and will be able to deliver the ultimate experience to their dedicated players.”

What the Management of Videoslots commented: “The Videoslots team is continually striving to become the world’s biggest and best online casino and we have ensured our players have access to even more high-quality games than ever with this deal. EGT Interactive’s quality portfolio is full of exciting games blended together with immersive graphics, exciting maths models and engaging narratives. Our players are sure to love our latest editions.”

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Spain’s Ombudsman Calls for Gambling Ad Ban

Niji Narayan

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Spain’s Ombudsman Calls for Gambling Ad Ban
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Francisco Fernández Marugán, Spain’s acting Civic Ombudsman, has recommended the Spanish government to issue a complete ban on advertising gambling products and services. Marugán addressed the recommendations to the Ministries of Finance and Health, Consumer Affairs and Social Welfare.

The ban would mean that operators would be prohibited from displaying any form of broadcast pertaining to gambling products and services before a particular time, in addition to the prohibition of celebrity endorsements and gambling signage at sporting events.

Marugán has stated that any operator found to be in contravention of the proposed ban could result in the cancellation of an operator’s license, however, this can only be justified if a total ban is imposed.

Marugán considers that the advertising of gambling and bets “should not be considered protected in the freedom of business, as it is not in products such as tobacco or addictive substances.”

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Schleswig-Holstein Extends Validity of Current Gambling Rules

Niji Narayan

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Schleswig-Holstein Extends Validity of Current Gambling Rules
Photo Source: thesocialmediamonthly.com
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The German state of Schleswig-Holstein has passed a bill that allows the current online gambling regulatory regime to remain in place until mid-2021.

The successful regulation of online gambling on the territory of Germany has proved quite the challenge over the past seven years. The latest version of the Interstate Treaty on Gambling was introduced this year and was presented to the European Commission for a review earlier this month. An approval from EU authorities is one of the necessary steps before the law takes effect at a federal level.

The Schleswig-Holstein has been allowed to implement its own regulatory framework that will stay in effect until June 30, 2021. The framework’s extended validity was voted in favour of by the state’s Greens, Free Democratic Party, South Schleswig Voters’ Association, Christian Democratic Union party, and the Alternative for Germany party.

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