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Canadian Gaming Association calls on all party support for single-event sports betting

George Miller

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Canadian Gaming Association calls on all party support for single-event sports betting
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The Canadian Gaming Association (CGA) welcomes the commitment made by Windsor West Liberal candidate Sandra Pupatello to amend the criminal code to enable single-event sports betting, agreeing with her comment that “there is no reason to hold back on this initiative.”

“We are thrilled to have Ms. Pupatello’s support and call on all parties to fight for the simple amendment that provinces requested 10 years ago that would benefit places like Windsor,” stated Paul Burns, President and CEO of the Canadian Gaming Association. “This change would give provinces the tools to deliver a safe and legal option to Canadians while helping economic benefits, such as jobs, flow to communities and provincial governments.”

Canadians enjoy sports betting because they are wagering approximately $10 billion annually through illegal bookmaking operations in Canada, usually operated by organized crime organizations. Additionally, more than $ 4 billion is wagered through offshore online sports wagering sites. Currently, only $500 million is wagered through legal provincial sports lottery products offered to Canadians, which means many people are betting through illegal and often dangerous means.

The Canadian gaming industry touches almost every corner of our country. From Corner Brook, Newfoundland to Victoria, British Columbia, hundreds of communities benefit from gaming. Gaming in Canada provides almost 182,500 jobs and good salaries – the average national wage is $65,000 – and a portion of the revenue generated equalling $9.1 billion is transferred to fund government, community programs, charitable causes, and First Nations initiatives. However, inaction on single-event sports wagering means these benefits are threatened, especially in border communities like Windsor.

“Let us not lose sight of how one small change can drive enormous benefits to the Canadian gaming industry, Canadian communities, as well as Canadians, who just want to be able to bet on the outcome of the Stanley Cup, NBA Finals, or World Series,” added Mr. Burns. “The CGA has been advocating for single-event sports wagering for a decade. With all party support and assistance from our federal government, its time has come.”

 

About the Canadian Gaming Association:
The Canadian Gaming Association (CGA) is a not-for-profit organization that works to advance the evolution of Canada’s gaming industry. The association’s mandate is to promote the economic value of gaming in Canada; use research, innovation, and best practices to help the industry advance; and create productive dialogue among stakeholders. www.canadiangaming.ca

 

SOURCE Canadian Gaming Association

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 Wave Esports Appoints Richard Carl as Director

George Miller

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New Wave Esports Appoints Richard Carl as Director
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NEW WAVE ESPORTS CORP. is pleased to announce that Richard Carl has been appointed to the Company’s board of directors. In connection with his appointment, the Company granted Mr. Carl 200,000 options to purchase common shares of the Company (“Options”). The Options are exercisable at a price of $0.11 and will expire on November 8, 2024.

Mr. Carl has extensive experience in serving as a board member and in executive roles for private and public companies in a number of industries including oil and gas, real estate, financial services, power generation and mining. Many of these roles have included fund raising, both debt and equity, joint ventures and restructurings as well as principal investing.

Mr. Carl currently sits on the board of directors of Clearview Resources where he chairs the audit committee, is a member of the compensation committee and recently chaired the corporation’s special committee that led to a merger with Bashaw Oil Corp. Mr. Carl also serves on the board of trustees of InvestPlus REIT, a private real estate investment trust based in Calgary. Mr. Carl also sits on the board of Dealnet Capital Corp., a TSX-V listed consumer finance company where he chairs the risk committee. Mr. Carl was the executive chair of Canada Fluorspar, a TSX-V listed company and the CEO and chair of the board of directors of Newspar, the joint venture between Canada Fluorspar and Arkema, one of Europe’s largest Fluorchemical companies. Canada Fluorspar was subsequently sold to a private equity firm. In addition, Mr. Carl is a past director of Highpine Oil and Gas Ltd., a former TSX listed company where he chaired the audit committee and the special committee that led to the sale of Highpine to Daylight Resources Trust.

Mr. Carl previously earned a CFA designation and graduated from the University of Toronto with a Bachelor of Commerce and Finance degree.

“New Wave Esports is an exciting opportunity, rapidly gaining traction in the esports space and I look forward to working with the management of the Company and adding my experience in early stage and small capitalization companies to help bring its strategies to fruition,” said Mr. Carl.

“The addition of Richard Carl to the New Wave Esports Board of Directors opens up incredible opportunities as we tap into Richard’s expansive knowledge of leading and building successful businesses,” says Dan Mitre, CEO of New Wave Esports. “Richard has an impressive set of skills and experiences that elevate our leadership within the company. We are excited about having someone of his caliber join our ranks as we continue to invest in the esports ecosystem.”

ABOUT NEW WAVE ESPORTS CORP.
New Wave Esports Corp. (CSE: NWES) is an esports and competitive gaming company that provides capital and support services to esports organizations, teams, leagues, events, platforms, tools, and technology innovators.

Source: NEW WAVE ESPORTS CORP.

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Bragg Gaming Group Reports Third Quarter 2019 Results

George Miller

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Bragg Gaming Group Reports Third Quarter 2019 Results
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Enters the lucrative U.S. gaming market through recently announced partnership with Kambi Group and Seneca Gaming Corporation

Bragg Gaming Group has released its results for the third quarter ended September 30, 2019, achieving strong sequential revenue growth of 13 per cent over Q2 2019.

Third Quarter 2019 Results

In the third quarter, the Company delivered continued growth with revenue of CDN $10.0M, gross profit of CDN $4.3M, EBITDA of CDN $0.2M, and net loss from continuing operations of CDN $0.2M. These results culminated in strong performance for the first nine months of 2019 with revenue of CDN $28.0M, gross profit of CDN $12.6M, EBITDA of CDN $0.6M and net loss from continuing operations of CDN $7.6M.

Dominic Mansour, Bragg’s CEO, said: “We’ve made significant progress this quarter, with our focus on B2B with ORYX driving 30 per cent revenue growth compared to Q3 2018. This resulted in a significant improvement in ORYX’s gross profit and in-turn drove ORYX EBITDA to grow by over 300 per cent to CDN $1.2M.

“I am extremely pleased with the Company’s progression over the past quarter. We’ve proven that, with our modern technology and seamless integration process, we are able to expand our operator base at a significantly faster rate than the competition. I am particularly pleased that the strong momentum of operator launches experienced in the first half of the year continued into Q3 with the successful launch of 10 new operators. We expect this momentum to further accelerate throughout Q4 with more than 14 launches in the pipeline.”

US Market Entry

Bragg recently entered into a partnership with Kambi Group, a well-established provider of premium sports betting services with an extensive client base. Bragg will provide their casino services and unique player account management (PAM) along with Kambi’s sports betting services to operators worldwide, with an initial focus on the burgeoning US market.

This newly created partnership recently signed a deal with New York’s Seneca Gaming Corporation (SGC), which operates all of the Seneca Nation’s Class III gaming operations in western New York. The Bragg and Kambi teams will collaborate to provide SGC with a combination of their services and products across SGC’s three New York casinos.

“Our partnership with Kambi and the initial deal with Seneca are both huge stepping stones for Bragg as we commence operations in the U.S. and continue to expand our global reach,” noted Mansour.  “Our strategic focus in the U.S. is to partner with tier-1 casinos and operators. I believe that this Seneca deal will be the first of many in the coming years, particularly as the legal landscape continues to mature.”

Strategic Review of Online Media Division

The strategic review of the online media divisions consisting of the GiveMeSport asset has continued through the second half of 2019, and the Board expects this to be completed in Q1 2020.

In the interim, Bragg continues to enhance the GMS platform in order to drive more volume. The relaunch of the GMS website was completed in July, and the site is now quicker, slicker, more intuitive, and has a lighter ad load. These improvements culminated in peak site traffic in October 2019, which were 46 per cent greater than October 2018, growing from 15.9M visitors to 23.3M organic visitors.

Directorate Changes

Bragg’s CFO, Akshay Kumar, has announced his intent to step down as Chief Financial Officer of the Company for personal reasons. Effective November 13, 2019, Steven Prowse will assume the role of Chief Financial Officer. Mr. Kumar will assist Mr. Prowse, ensuring a seamless transition.

Prowse is an industry veteran with over 10 years’ experience in the betting and gaming sector. He served as Group Finance Director for PartyGaming plc (later bwin.party), a gaming business listed on the London Stock Exchange, and was instrumental in M&A, including the acquisition of Foxy Bingo and the €2.1bn merger with bwin in 2011 where he continued as Group Finance Director.

Dominic Mansour said: “I would like to thank Akshay for his hard work and contributions to Bragg. Our team wishes him all the best for the future. We also look forward to welcoming Steven to the Bragg team and believe his expertise with M&A in the sector will be extremely valuable during this pivotal time for the Company.”

Steven Prowse said: “I am delighted to join Bragg at such an early and exciting point in its growth trajectory.  Bragg has market-leading technology, products and people.  As such, I see enormous potential for this business and am very much looking forward to being a part of that growth.”

 

 

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Canada

Aristotle Integrity Partners with GeoComply for Integrated IDComply Solution

George Miller

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Aristotle Integrity Partners with GeoComply for Integrated IDComply Solution
Reading Time: 2 minutes

 

Leaders in KYC and Geolocation Compliance offer integrated solution for iGaming and sports betting operators

Aristotle International’s Integrity division, leaders in age verification and KYC, announced today that its solutions will be integrated as a premium vendor within GeoComply’s new IDComply service. IDComply provides seamless links to industry-leading age and ID verification services, via the existing GeoComply API, to deliver the highest possible levels of player-acceptance in a compliant, fast and low-friction model.

The first customer for this service will be Amelco, to support the expansion of their online casino and sportsbook operations in the US market.

Utilizing Integrity’s unparalleled age and identity verification within the IDComply solution, online sportsbooks, casinos and poker sites can ensure they are meeting their KYC compliance requirements so that minors do not have access to age restricted iGaming services.

“Integrity offers GeoComply a range of KYC and identity solutions already used by leaders in iGaming and online sportsbooks in US regulated market”, said Aristotle CEO John Aristotle Phillips. “Partnering with GeoComply gives customers the ability to combine two critical compliance services in a single integrated solution. Given that both companies are licensed in New Jersey, Nevada, West Virginia, Pennsylvania and Indiana, sports betting and iGaming operators can implement an easy-to-deploy solution for KYC and geolocation compliance.

David Briggs, President of GeoComply shared, “Our goal for IDComply is to offer best-of-breed KYC and age verificition in a streamlined solution.  Aristotle has proven to be an excellent partner for us to this end. IDComply gives customers a way to quickly enter new markets, utilizing an integrated geolocation and KYC compliance solution from licensed companies they know and trust.

Phillips added, “Aristotle and GeoComply have both built exceptional reputations for offering well-tested, reliable and market-leading solutions for the regulated online gaming industry. This partnership provides an exciting opportunity for iGaming and sports betting operators to leverage this integrated solution to ensure a fast and successful entry into new markets.

About Aristotle’s Integrity:
Integrity is a suite of widely accepted global identity and age verification solutions. Providing tailored solutions for both commercial and government sectors, Integrity is the most comprehensive and cost effective approach for age and identity verification available across multiple platforms. See more here.

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