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Pollard Banknote Announces Completion of the Previously Announced Acquisition of mkodo

George Miller

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Pollard Banknote Announces Completion of the Previously Announced Acquisition of mkodo
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Pollard Banknote Limited announced that it has completed the previously announced Acquisition of mkodo Limited.  Pollard signed a definitive agreement to acquire 100% of the equity of mkodo, a leading provider of digital apps and user interfaces for the lottery and gaming industry worldwide, on December 2, 2019.  The Acquisition was subject to certain standard regulatory and third-party consents which have now all been obtained.

mkodo is a global provider of licensed, omni-channel customer facing apps to the lottery, betting and gaming sectors.  The company was founded in 2001 and has been recognized for its core strength to develop and deliver successful digital experiences to the target audience of their customers’ online users.  mkodo’s clientele include a number of leading lotteries and gaming companies around the world, including the majority of the Canadian lotteries and some of the largest gaming operators in the UK.  With offices in England (London and Newcastle), mkodo employs approximately 60 full-time highly skilled staff working exclusively on digital app deployment for the lottery and gaming sector.

“We are very excited to complete the acquisition of mkodo and move into the integration phase of combining these two strong organizations”, stated Doug Pollard, Co-Chief Executive Officer. “mkodo are world leaders in the digital user experience in the lottery and gaming industry. We look forward to leveraging their expertise to help our customers build effective, direct connections with their player base.”

The Acquisition purchase price is £7.8 million (approximately $13.5 million CDN dollars using an exchange rate of $1.73 CDN dollar per pound sterling), prior to standard working capital adjustments and potential future earn-out payments based on certain EBITDA targets.  The purchase price will be funded from existing Pollard Banknote cash resources and availability under our existing senior credit facilities. The acquisition is expected to be accretive to Pollard Banknote’s net income prior to amortization of related purchase price accounting adjustments.

 

About Pollard Banknote:

Pollard Banknote is a leading lottery partner to more than 60 lotteries worldwide, providing high quality instant ticket products, licensed games, Schafer Systems and Fastrak retail merchandising solutions, and a full suite of digital offerings, ranging from game apps to comprehensive player engagement and iLottery solutions, including strategic marketing and management services. The company is a proven innovator and has decades of experience helping lotteries to maximize player engagement, sales, and proceeds for good causes. Pollard Banknote also provides pull-tab tickets, bingo paper, and its Diamond Game and Oasis-branded electronic ticket machines to charitable and other gaming markets in North America.  Established in 1907, Pollard Banknote is owned approximately 67.5% by the Pollard family and 32.5% by public shareholders and is publicly traded on the TSX (PBL).  For more information please see our website at www.pollardbanknote.com.

 

Source: Pollard Banknote Limited

Industry News

Codere SA Launches New Italian Gaming Machines Distribution Unit “Codwin”

Niji Narayan

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Codere SA Launches New Italian Gaming Machines Distribution Unit “Codwin”
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Spanish gaming company Codere SA has created a new Italian gaming machines distribution unit “Codwin” by merging its subsidiaries FG Slot and Gap Games Italia.

Codere is the majority shareholder in the two existing businesses and won approval from investors to merge the units at a shareholder meeting in April.

Andrea Rigodanzo, former MD of FG Slot, will head up the new company, which Codere hopes will offer savings on operational costs.

Rigodanzo said: “It is an extremely difficult time for the legal gaming sector, in particular for operators of gaming machines. As a result, we have decided to join forces to face the challenges the market is presenting to us. The Covid-19 pandemic arrived in an already difficult context of increased taxation and regulations that put a strain on the sector…

“With Codwin we intend to offer a model of management integration and efficiency that will also represent an incubator for other companies that want to continue operating according to the usual standards of reliability and legality and who have a long-term project to share with us. We are able to support companies that are currently experiencing difficulties and to implement a shared strategy that allows them to face the future with optimism and competence.”

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Industry News

Net Gaming in Preparations to Enter Dutch Market

Niji Narayan

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Net Gaming in Preparations to Enter Dutch Market
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Gaming solutions provider Net Gaming has begun preparations for the regulation of online gambling in the Netherlands, with a view to entering the market as early as possible.

The Dutch parliament had a final saying regarding the secondary legislation related to the Remote Gambling Act. The implementation of the Act will end the long overdue wait for a modern gaming legislation in the Netherlands. The new law is expected to enter into force in Q1 of 2021, which is also when license applications will be accepted for operators.

Net Gaming has chosen to take swift measures to be in the best position to capitalise on the Dutch market at the earliest possible time. The measures include adjustments to the product offering to be compliant on the Dutch market until the new law is entered into force.

The implementation of the Remote Gambling Act in the Netherlands is a step forward for the Dutch market and consumers, as well as a positive development towards locally regulated revenues for Net Gaming.

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Compliance Updates

Pariplay Receives ISO/IEC 27001 Certification for Information Security Management

Niji Narayan

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Pariplay Receives ISO/IEC 27001 Certification for Information Security Management
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Online casino games provider Pariplay Ltd has received ISO/IEC 27001 certification for its Information Security Management System (ISMS). ISO/IEC 27001 is an information security standard published by the International Organisation for Standardisation (ISO) and the International Electrotechnical Commission (IEC).

This latest company milestone will enable Pariplay to continue their global expansion into regulated markets and to provide their extensive portfolio of engaging games to more operators. One such region where Pariplay will be making its debut is in Switzerland, a highly lucrative and prestigious market that uses the ISO certification as their regulation benchmark.

Establishing partnerships with a new base of operators in Switzerland will allow Pariplay to provide access to a repertoire of over 100 inhouse developed casino games, including its latest Spin N’Hit and Stallion Fortunes, as well as extremely popular titles like Wolf Riches and Dragons of the North.

“This accreditation acknowledges our unwavering commitment to compliance and security across our global operations, while also allowing us to continue to expand our reach into newly regulated markets, including Switzerland. We’re very excited at the possibilities this presents as more players get to experience our thrilling games and cutting-edge services, furthering our 2020 strategy of branching out into newly regulated markets on a truly global scale,” Adrian Bailey, MD of Pariplay, said.

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