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Gaming Innovation Group Inc.: Key Dates Announcement for Reverse Share Split

Zoltan Tundik

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Photo source: .gig.com
Reading Time: 2 minutes

 

With reference to the announcement on 11 December 2018, the shareholders of Gaming Innovation Group Inc. (GIG) have resolved to perform a 10-for-1 reverse share split (Nw: “aksjespleis”) which means that 10 old shares will be converted to 1 new share. The par value will change from USD 0.10 to USD 1.00 per share. New ISIN code for the share will be US36467X2062.

There is no need for any shareholders to act on the reversed split as this will be resolved automatically. Regarding fractional shares, see below.

The reverse share split will be completed with the following timetable:

  • 18 December 2018 – Last day of trading of the Company’s shares inclusive the right to have the shares consolidated
  • 19 December 2018 – First day of trading exclusive consolidation
  • 20 December 2018 – VPS record date
  • 21 December 2018 – Date of delivery of the consolidated shares in VPS
  • 19 December 2018 – First day of trading of the consolidated shares (no account to account transactions or transactions with settlement prior to 21 December 2018)
  • 21 December 2018 – First day of ordinary trading of the consolidated shares

Fractional shares arising as a result of the consolidation will not be delivered.

The number of consolidated shares issued to each beneficial owner listed in the VPS on the record date will be rounded down to the nearest whole number. The Company will purchase all fractional entitlements to shares of the Company for a proportional cash payment equal to NOK 26.00 per consolidated share (the “Purchase Price”) and offer these shares for sale in the market. The net proceeds will be used to settle the Purchase Price. The maximum claim per registered owner for settlement of fractions of shares will be 9/10 of the Purchase Price (NOK 23.40). The total settlement for all fractional shares is expected to add up to approximately NOK 14,000 (approximately 525 consolidated shares).

Considering the low amount and the transaction costs associated with paying out the amount to all shareholders, settlement will be made only to shareholders who request payment from the Company. Such shareholders may approach the Company by sending an email to ir@gig.com or by post to Gaming Innovation Group, Fridtjof Nansens plass 6, 0160 Oslo, Norway. Proceeds which have not been claimed by 31 January 2019 will be donated to a charitable cause.

For further information, please contact:

Group CFO
Tore Formo
tore@gig.com

About Gaming Innovation Group (GiG):

Gaming Innovation Group Inc. is a technology company providing products and services throughout the entire value chain in the iGaming industry. Founded in 2012, Gaming Innovation Group’s vision is ‘To open up iGaming and make it fair and fun for all’. Through its ecosystem of products and services, it is connecting operators, suppliers and users, to create the best iGaming experiences in the world. Gaming Innovation Group operates out of Malta and is listed on the Oslo Stock Exchange under the ticker symbol GIG.

For more information about GiG and our services also see: www.gig.com

After starting out as an affiliate in 2009 and developing some recognized review portals, I have moved deeper into journalism and media. My experience has lead me to move into the B2B sector and write about compliance updates and report around the happenings of the online and land based gaming sector.

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Gambling in the USA

UNITE HERE Warns About Potential Gaming Tax Revenue Declines, Job Cuts, and Other Problems of Proposed Merger of Eldorado Resorts and Caesars Entertainment

George Miller

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UNITE HERE Warns About Potential Gaming Tax Revenue Declines, Job Cuts, and Other Problems of Proposed Merger of Eldorado Resorts and Caesars Entertainment
Reading Time: 2 minutes

 

Eldorado Resorts and Caesars Entertainment jointly announced a proposed transaction to combine the two corporations, pending shareholder and regulatory approvals. The deal is to be based on $7.2 billion of new debt financing and $500 million of cuts and other “synergies.” UNITE HERE, the hospitality workers union, represents approximately 25,000 workers at Caesars and Eldorado properties.

UNITE HERE-represented union casinos accounted for approximately 68% of the pro forma $30 billion combined Caesars-Eldorado EBITDAR in 2018. These 22 UNITE HERE union casinos altogether include over 50% of the combined company’s total hotel rooms, over 30% of its total slots, and nearly 40% of its total table games. UNITE HERE locals are currently in contract negotiations with Eldorado at Circus Circus Reno and Isle Pompano Beach. Contracts at six additional UNITE HERE union casinos in the combined Caesars and Eldorado portfolio will expire in 2020, including four properties in Atlantic City.

UNITE HERE issued the following statement from President D. Taylor:

“UNITE HERE has had a positive relationship with Caesars Entertainment over the years, and 25,000 union members have been excited to help the company reinvest and rebuild as it recovers from the disastrous leveraged buyout led by Apollo and TPG. It is in this context that we approach the proposed sale of the company with great concern.

Yesterday, Eldorado announced cost-savings of $500 million in the first year of the combined company. Where are they going to cut? We will not stand by idly if the proposed Caesars-Eldorado transaction will lead to significant job losses, worse wages and benefits for our members, and lower state gaming tax receipts in the many communities where members we represent work and live. Casinos operating under privileged licenses are meant to create significant benefits for host communities, including family-sustaining jobs and local government funding based on gaming taxes.

We will support changes at Caesars that preserve the company’s long-term financial health and provide a sustainable path to good jobs in vibrant gaming markets across the country.”

2018, 7,700 UNITE HERE members went on a multi-city strike at Marriott hotels across the United States and won historic settlements in Boston, Detroit, San Francisco, San Jose, Oakland, San Diego, and Hawaii.

UNITE HERE represents over 300,000 hospitality workers in gaming, hotel, and food service industries in North America and provides analysis from the perspective of those who work in these industries.

 

Source: UNITE HERE

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Industry News

Genius Sports Media unveils next generation sports marketing and publisher tools

George Miller

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Genius Sports Media unveils next generation sports marketing and publisher tools
Reading Time: 2 minutes

 

Genius Sports Media, the media technology arm of Genius Sports Group, has today unveiled a new suite of data-driven fan engagement services that transform the way brands and publishers connect with their audiences.

Leveraging its 10 years of fan understanding, programmatic media buying knowhow and live sports data expertise, Genius Sports Media has launched a new, end-to-end digital agency service for sportsbook and gaming operators, sports rights holders, brands and digital publishers.

A new suite of next generation marketing tools make it simple for advertisers to tailor the content and delivery of campaigns around the sporting calendar. By embedding relevant content like real-time statistics, betting odds or video highlights into their creative, the service replaces scattergun marketing with non-intrusive, personalized messaging that captures the emotion of live sport. All digital marketing channels are supported – each driven by bespoke, proprietary technology to maximize efficiency of ad spend.

Genius Sports Media has also launched a broad portfolio of live data-driven widgets for digital publishers to engage their audiences, drive advertising revenue and tap into the growing opportunity in sports betting content. This includes a full, easily-integrated odds comparison service and affiliate marketing platform.

Mark Locke, CEO of Genius Sports Group, said: “We have been helping brands acquire customers for well over a decade and have subsequently built an understanding of how and when sports fans engage with media that simply can’t be replicated by traditional agencies.

“Using this expertise, in combination with our rapidly expanding live data portfolio, advertisers targeting sports fans can instantly connect with them in real-time to build stronger relationships that significantly increase conversion rates.

“By unifying these capabilities with our new suite of publisher products, Genius Sports Media both extends and optimizes the services we can provide for brands and publishers in this highly competitive marketplace.”

 

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Press Releases

A Really Wild slot release by GREENTUBE

George Miller

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A Really Wild slot release by GREENTUBE
Reading Time: 1 minute

Really Wild™ introduces players to the law of the streets and all the golden bling that comes with it. This exciting online slot can now be found Greentube’s Home of Games – available for all B2B partners!

Players can now take a trip to the shadier parts of town to make a name for themselves: In Really Wild™, 7 win lines run across a total of 4 reels – a uniquely exciting setup that players simply can’t get enough of.

The reels of Really Wild™ are bursting with lucky symbols: hoodlums, fruits and more are all waiting to line up just right. The Guy (Scatter) symbol is the key to up to 20 Free Games, where the Wild symbol is the true star, as one of the reels will spin to show a cluster of them and remain fixed in place for all remaining Free Games. Players that are looking for a massive boost to their winning chances will absolutely love this feature, because the Wild symbol may substitute for every other symbol in the game except Scatter.

Really Wild™ is a slot forged in the streets and full of cool winning chances!

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