Canada

eQube Gaming Limited Trading & Finance Update

Published

5 years ago

February 19, 2019

George Miller

eQube Gaming Limited Trading & Finance Update

Reading Time: 3 minutes

eQube Gaming Limited today announced an update to trading activities.

eQube has finished repayments of a three-year term loan and repaid, in full, the $4m borrowed from the lender. Mr. Mitch Debelser retained a board seat, as a condition of provision of the debt, and has resigned his board position as the debt is now repaid, in full and on time. eQube was also provided with an interim finance facility, provided by way of a combination of short-term related party loans (provided by Mr. Andrew Janko ($100,000), Mr. Doug Osrow ($25,000) and Mr. John Purcell, CEO ($25,000)) and a bank facility ($100,000) to make available up to $250,000 of working capital to facilitate critical short term initiatives, if required, while awaiting benefits of new free cashflow. As the repayment of the $4m loan frees up over $145,000 per month in cash, the board are instigating a principal and interest repayment plan for other debt that has been interest only to date. This translates to a net $93k per month cashflow positive benefit to the management accounts of the company.

eQube has also participated in and showed the next generation products under the ‘DigiBingo’ brand at the ICE show in London, attended by over 30,000 gaming professionals from over 150 countries. The targeted marketing of the show will enhance eQube’s ability to offer product to a larger prospective market. With the cloud-based software products now on offer, eQube can sell to a global audience, with a scalable range of products, unlike previous product versions.

About eQube Gaming Limited:

eQube is a leading provider of electronic bingo (eBingo) systems for land based gaming operators in commercial and charitable gaming facilities. eQube has the majority market share in the Canadian regulated bingo market as well as the Irish market and operates the linked bingo games in Alberta and Ireland. Current solutions, consisting of commercial eBingo, linked wide area bingo, traditional bingo and automated bingo style electronic games are complemented by enterprise class accounting and back office reporting combined with open platform customer management data tools. eQube’s platform provides new and enhanced revenue channels by enhancing the experience, environment and service to our clients’ customers.

eQube has been offering its eBingo and related gaming solutions to commercial, tribal, regulatory and charitable customers worldwide since its inception in 1999. Its registered and head office is in Edmonton, Alberta. eQube is listed on the TSX Venture Exchange under the symbol EQG. For more information visit: www.eqube.com

Disclaimer in Regards to Forward-Looking Statements

This news release may contain forward-looking statements and information (“forward-looking statements”) within the meaning of applicable securities laws and is based on the expectations, estimates and projections of management of eQube as of the date of this news release, unless otherwise stated. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “objective”, “ongoing”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are provided for the purpose of providing information about management’s current expectations and plans relating to the future. Investors are cautioned that reliance on such information may not be appropriate for other purposes, such as making investment decisions. Forward looking information provided in this news release is also based on certain assumptions regarding expected growth, results of operations, performance and business prospects and opportunities. Accordingly, readers should not place undue reliance on the forward-looking statements contained in this news release. Since forward-looking statements addresses future events and conditions, such information by its very nature involves inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These risks include unsatisfactory due diligence, or the inability to negotiate a definitive agreement and/or obtain necessary regulatory and third party approvals.

Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information regarding some of these risks, expectations or assumptions and other factors may be found in eQube’s filings with the Canadian securities regulators, available at www.sedar.com. The reader is cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements contained in this news release are made as of the date hereof and eQube undertakes no obligations to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Source: eQube Gaming Limited

Canada

Glitnor Group expands IBIA’s betting integrity presence in Ontario

Published

2 weeks ago

April 10, 2024

Adrienn Sarkany

Reading Time: 2 minutes

Glitnor Group, operating under the LCKY Group in Ontario, has joined the International Betting Integrity Association (IBIA). Glitnor Group’s luckycasino.ca brand sportsbook will feed into IBIA’s world leading betting integrity monitoring platform. The operator joins over 50 companies and 125 leading sports betting brands in IBIA and further cements the association’s position as the leading sports betting integrity monitoring body in Ontario and globally.

David Schwieler LCKY Group CEO, said: “At Glitnor Group, we’re dead serious about keeping our betting games fair and square. That’s why teaming up with IBIA is a big deal for us. We know how crucial it is to protect the spirit of sports, and we’re ready to roll up our sleeves and work closely with the IBIA to make sure sports betting stays exciting, speedy, and above all, fair.”

Khalid Ali, CEO of IBIA, said: “I am delighted to welcome Glitnor Group as IBIA’s latest member in Ontario. Glitnor and IBIA share a common goal to maintain the integrity of the sports betting marketplace and to protecting consumers and sports from match-fixing. Ensuring product integrity is paramount to our approach and we look forward to integrating Glitnor within our leading global sports betting integrity monitoring system.”

IBIA is a not-for-profit body that has no competing conflicts with the delivery of commercial services to other sectors and is run by operators for operators to protect regulated sports betting markets from match-fixing. IBIA’s global monitoring network is a highly effective anti-corruption tool, detecting and reporting suspicious activity in regulated betting markets.

Through the IBIA global monitoring network it is possible to track transactional activities linked to individual customer accounts. IBIA members have over $300bn per annum in betting turnover (handle), accounting for approximately 50% of the global commercial regulated land-based and online sports betting sector, and in excess of 50% for online alone.

IBIA recently released a report on the Availability of Sports Betting Products which highlighted Ontario as a leading regulated gambling jurisdiction, with an expected onshore channelisation for sports betting of 92% in 2024 forecast to rise to 97% in 2028. IBIA currently represents over 60% of the private sports betting operators licensed in the province. All online sports betting operators licensed in Ontario are required to be part of a betting integrity monitoring body.

IBIA’s 2023 annual integrity report detailed 184 alerts reported in the year, which represents a decrease of 101 (or 35%) on the revised 2022 figure of 285 alerts. IBIA alerts contributed to the investigations and subsequent successful sanctioning of 21 clubs, players and officials in 2023, an increase on the 15 sanctioned in 2022.

Canada

SOFTSWISS Obtains Firstly Issued B2B Tobique Gaming Licence

Published

3 weeks ago

April 3, 2024

George Miller

SOFTSWISS Obtains Firstly Issued B2B Tobique Gaming Licence

Reading Time: 2 minutes

SOFTSWISS, an iGaming software provider celebrating its 15th anniversary in 2024, has obtained the B2B Tobique Gaming Licence, the first ever issued in the jurisdiction. The Tobique Gaming Commission (TGC) and Differentia Licensing Advisory Group Limited (DLAG), a provider and facilitator to gaming companies for international gaming licences, authorised SOFTSWISS to engage in business activities for one year.

Located in western New Brunswick, Canada, the Tobique First Nation is a sovereign indigenous community issuing online gambling licences through the TGC under the Tobique Gaming Act of 2023. The licence, recognised as the B2B Tobique Gaming Licence, offers businesses the prospect of international operations, facilitating the establishment of a global footprint. The licence covers various categories of real money betting, including sports, casino games and lottery. Its significant advantages include the streamlined application process, reasonable price and quick acquisition.

Yuri Sharapa, Head of Country Projects at SOFTSWISS, comments: “Acquiring a new licence is a remarkable achievement for us, signifying our dedication to offering our clients a diverse range of options. We extend our gratitude to the Tobique Gaming Commission for their trust and stringent standards. We are proud to announce that one of the companies under the SOFTSWISS brand has become the first company to secure the B2B Tobique iGaming Licence.”

“The DLAG team is pleased to announce that the first Tobique Licence has been granted. The Licensee is under the tier-1 international brand, SOFTSWISS, in our industry, recognised for its leading products and services. These are exciting times for both the gaming world and Tobique!” adds Graham Martin, Chairman of DLAG.

SOFTSWISS supplies multiple operators under three international licences: MGA, CGA, and Kahnawake. Additionally, SOFTSWISS has several national licences and certifications, among which the recently obtained South African Licence through the acquisition of Turfsport, a leading South African provider of wagering software with 35 years of experience. Additionally, last year, as part of its strategy to enter regulated markets, the SOFTSWISS Casino Platform and the SOFTSWISS Sportsbook obtained GLI-19 and GLI-33 certifications, respectively.

About SOFTSWISS

SOFTSWISS is an international tech company supplying software solutions for managing iGaming projects. The expert team, which counts over 2,000 employees, is based in Malta, Poland and Georgia. SOFTSWISS holds a number of gaming licences and provides one-stop-shop iGaming software solutions. The company has a vast product portfolio, including the Casino Platform, Game Aggregator, the Affilka affiliate tracking platform, Sportsbook Platform, and Jackpot Aggregator. In 2013, SOFTSWISS was the first in the world to introduce a Bitcoin-optimised online casino solution.

Canada

Hacksaw Gaming and Caesars Digital Partner to Launch Online Casino Games in Ontario

Published

4 months ago

December 21, 2023

Alan Campbell

Reading Time: < 1 minute

Launch brings Hacksaw Gaming titles to Caesars Palace Online Casino and Caesars Sportsbook & Casino in Ontario

Hacksaw Gaming today announced its first market launch with Caesars Digital in North America, in the regulated iGaming province of Ontario, Canada. The new partnership marks the exciting launch of new games on Caesars Palace Online Casino and Caesars Sportsbook & Casino in the province.

This new partnership, a first between the two companies, will bring familiar titles to online casino players and will be followed by a dedicated roadmap for additional launches in more jurisdictions in 2024, showcasing the entire Hacksaw Gaming catalog. The first release of games includes Hacksaw Gaming classics Wanted Dead or a Wild, RIP City, Hand of Anubis and Mines.

“Forging partnerships with new faces is always an exciting time but the influence of Caesars Digital is one we pride,” the Chief Executive Officer for Hacksaw Gaming, Marcus Cordes, said. “Launching this partnership in Ontario is the perfect place to begin our journey.”

“Hacksaw Gaming brings an exciting catalog of games to our platforms that should provide a thrilling experience for our players,” the Senior Vice-President and Chief iGaming Officer for Caesars Digital, Matthew Sunderland, said. “We’re excited to see how our players engage with this content in Ontario and in jurisdictions in the future through our new partnership.”