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Galaxy Gaming Agrees to Purchase Progressive Games Partners Deal Gives Galaxy Direct Control over iGaming Activities

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Galaxy Gaming Agrees to Purchase Progressive Games Partners Deal Gives Galaxy Direct Control over iGaming Activities
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Galaxy Gaming, Inc. announced that it has entered into an agreement to acquire 100% of the equity interests in Progressive Games Partners LLC. PGP owns the exclusive worldwide online rights to a comprehensive suite of proprietary casino table games. Since signing its first license agreement with Cryptologic in 2003, PGP has developed close working relationships with the leading online operators and platform providers across the western world. An integral part of PGP’s success has been founded upon its exclusive online distribution rights for Galaxy’s gaming content, as well as other world-renowned games such as Perfect Pairs and Caribbean Stud Poker through its other licensors.

Pursuant to the Purchase Agreement, Galaxy will pay $12.425 million to acquire all of the equity interests in PGP. Of the consideration, at least $6.425 million but no more than $10.425 million will be paid in cash; any amounts not paid in cash will be paid in newly issued shares of Galaxy’s common stock valued at $1.91 per share.

Galaxy expects that the acquisition of PGP will be accretive to earnings per share upon closing.

This transaction will enable Galaxy to more efficiently and effectively exploit the opportunity provided by the rapidly expanding online casino market in the US by both building on our many close relationships with casino groups who are expanding their sphere of operations online, and by gaining exposure to new markets and opportunities through our newly acquired online clientele.

Completion of the transaction is subject to certain conditions, including regulatory approvals.

Executive Comments:

“We see online gaming as a key development and expansion area for our business and believe that our great table games will be received well as more and more markets open iGaming,” said Todd Cravens, Galaxy’s President and CEO. “This transaction positions us in several ways to control our own destiny in online gaming. First, we get direct relationships with the major online players. Second, we get full control of how our own content – and the content we get from others – is licensed to those operators. And we are taking all these steps as online gaming is expanding across the United States. We’re excited to by this opportunity and challenge.”

“Galaxy’s games have been our most important revenue producers,” stated Chris Reynolds, PGP’s CEO. “I have no doubt that those games will continue to enjoy great popularity and success in the regulated online gaming markets, and we are already developing our strategy and relationships to ensure that they will be well positioned to participate in the expanding US market. I look forward to working with Todd and the Galaxy team to continue as one entity the success we have had separately.”

Gambling in the USA

Gaming Americas Weekly Roundup – May 29-June 04

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Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news and new partnerships. Read on and get updated.

Latest News

SoftGamings has confirmed its attendance at the upcoming SiGMA Americas conference in São Paulo, Brazil. The expo is SiGMA America’s first conference in the area following the acquisition of the Brazilian iGaming Summit, making it a perfect platform for discussing and exploring innovative strategies within the budding LatAm gaming sector. SoftGamings will be among the industry leaders at the conference, demonstrating its comprehensive suite of iGaming solutions at stand E111, on June 14–18, 2023, at Transamerica Expo Centre.

Pragmatic Play, a leading content provider to the iGaming industry, is speaking and exhibiting its latest content at this year’s Peru Gaming Show, Mission #7 on its Latam Missions Itinerary. Celebrating a milestone 20th year, PGS is widely considered to be one of the industry’s most important international events in Latin America, attracting top providers, operators and more from across the globe.

Bragg Gaming Group announced that it has filed a notice of meeting and management information circular in respect of its upcoming annual meeting of shareholders to be held on Thursday, June 22, 2023 at 10:00 am (Toronto Time). In addition, the company also announced that there will be three new nominees for election to its board of directors (Board). The new nominees will replace three existing directors, Paul Godfrey (Chair), Paul Pathak and Rob Godfrey, who have each opted not to stand for re-election to the Board at the Meeting.

Endorphina has announced its participation at the Perú Gaming Show, going to be held on June 14 and 15. You can find the Endorphina team at Stand 47, as they are looking forward to meeting and greeting attendees as well as connecting with industry professionals. With a commitment to delivering high-quality casino experiences to players worldwide, Endorphina is in the excitement to be part of PGS, a major gaming event in South America.

IGT has introduced its latest video poker game, Fortune X Poker, to players at Yaamava’ Resort & Casino at San Manuel in Highland, Calif., with a special ribbon-cutting ceremony. The “X Marks the Spot!” celebration commemorated this “first in California” installation and included five popular slot influencers from across the US.

Partnerships

Betsson LATAM and the Sergio Urrego Foundation have entered into an alliance to support the Línea Salvavidas (Lifeline). The Lifeline is a free telephone service, staffed by psychology professionals, who provide crisis intervention in situations of risk associated with discrimination in emergency contexts and isolation, through direct prevention actions and psychosocial guidance.

Fortune Coins Casino announced a strategic partnership with Sweden’s leading casino content provider Fantasma Games to bring its players brand new titles and boost both parties’ influence across the North American social casino sector.

Marker Trax has announced a significant milestone, partnering with Pennsylvania’s Rivers Casino Philadelphia, in a move that brings contactless, cashless play and credit to a Philadelphia casino for the first time. Marker Trax has teamed up with the Fishtown venue to introduce the Pennsylvania gaming market’s first contactless, cashless digital advance system, through Rivers Casino Philadelphia’s Rush Credit programme, powered by Marker Trax.

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Gambling in the USA

Gaming Americas Weekly Roundup – May 22-28

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Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news and new partnerships. Read on and get updated.

Latest News

Tipico Sportsbook announced the launch of “Swing for the Fences,” an MLB contest in which bettors play for a chance to win their share of over $100,000 in monthly prizes. The contest is available to customers in Tipico’s operating states of Ohio, New Jersey, Colorado and Iowa.

Ohio Governor Mike DeWine has nominated Michelle Gillcrist as Director of the Ohio Lottery Commission. Gillcrist was named interim director in April. Prior to her appointment as interim director, Gillcrist served DeWine in various capacities during his tenure as Governor, Ohio Attorney General and United States Senator, most recently as Governor DeWine’s Northern Ohio Regional Liaison and the Governor’s Aerospace and Defense Liaison for Northeast Ohio.

Maverick Gaming announced the launch of its new “Ace’s Poker” room in the city of Mountlake Terrace, Washington. This exciting new poker brand is the first in the state and represents the continuous investment in Maverick Gaming’s strategy to redevelop and connect its properties across its regional footprint.

DoubleDown Interactive, a leading developer and publisher of digital games on mobile and web-based platforms, announced a $10,000 donation to the ASPCA (The American Society for the Prevention of Cruelty to Animals) in support of its mission to provide effective means for the prevention of cruelty to animals throughout the US.

Thunder Valley Casino Resort is going to celebrate its 20th anniversary this June. The casino opened its doors in 2003, and since 2011, has been rated as a AAA Four Diamond award-winning resort.

Partnerships

SimWin Sports, the first AI-driven digital sports league and one of Web3’s most anticipated new gaming platforms, announced its new partnership with The Boston Legends, an ownership group spearheaded by Autograph. The latter is renowned for its co-founder, Tom Brady, an iconic NFL quarterback.

Canadian Elite Basketball League and BetVictor announced a national partnership that will see the international sports book align with the CEBL as its official Sports Betting Partner for the 2023 season as it expands its presence in Ontario and across Canada. The partnership will include a groundbreaking sports betting experience for CEBL fans across its broadcasts and media platforms.

Play.Works, the number one provider of Connected TV games and original TV channels, announced a partnership with Authentic Hendrix LLC and Experience Hendrix LLC to launch casual slots and video trivia games inspired by the lyrics and music of legendary guitarist Jimi Hendrix.

Baha Mar, the leading luxury resort in The Bahamas, and Quick Custom Intelligence announced the successful upgrade to version 5.2 of Quick Custom Intelligence’s Enterprise Platform. Version 5.2 enhances the award-winning QCI Platform with the automation of operational tools that become a central part of the daily management of a gaming facility.

Vegas Stats and Information Network (VSiN) is launching a new 24-hour sports radio format in New Hampshire. VSiN is launching the channel alongside Binnie Media, New Hampshire’s largest locally-owned media company. The new VSiN Radio 106.3 FM HD2 will deliver sports betting programming 24/7 year-round to the more than 1.5 million people Binnie Media reaches each week in New England and beyond.

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Gambling in the USA

Gaming Americas Weekly Roundup – May 15-21

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Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news and new partnerships. Read on and get updated.

Latest News

International Game Technology PLC announced that Keith Cash, the Company’s Vice President and General Manager of Global Instant Tickets will be inducted into the Lottery Industry Hall of Fame as a member of the Class of 2023. Cash will be honoured later this year at an event hosted by the Public Gaming Research Institute.

Hard Rock International is bringing its unique brand of world-class entertainment to the historic city of Deadwood in the heart of the Black Hills National Forest. The Rocksino by Hard Rock project will celebrate a grand opening on August 8. The Rocksino by Hard Rock Deadwood is a boutique hotel & casino experience, which includes most of what fans of the Hard Rock brand have come to know but on a smaller scale than its famous integrated resorts in gateway international cities.

The online lottery ticket platform Jackpot.com has launched in Ohio, its second US state after it launched in Texas in January. Jackpot.com is also launching with a marketing partnership with one of the country’s premier professional sports franchises, the Cleveland Guardians.

BCLC is enhancing identification requirements at B.C. casinos this summer to support people enrolled in BCLC’s Game Break self-exclusion programme. While players will receive the same friendly, welcoming experience that they are used to when arriving at a B.C. casino, the enhancements will require every individual to present government-issued photo identification for entry.

NOVOMATIC has confirmed its attendance at the upcoming Peru Gaming Show (PGS) 2023 event, set to take place on June 14-15 at the Jockey Exposition Centre in Lima. At stand #53, the company will showcase its latest highlights for the region.

Partnerships

Las Vegas-based, cross-platform global games leader, Light & Wonder, has been selected to bring its portfolio of systems solutions driven by comprehensive technology to Mohegan INSPIRE Entertainment Resort.

Galaxy Gaming has announced that it has signed an agreement with Evolution Group for the licensing of Galaxy table game content across their portfolio of studios. The agreement runs for ten years and strengthens Evolution’s collection of online table games.

Major League Soccer announced that The Game Day, a leading sports betting entertainment website, will provide fans with expert tips on MLS bets and match preview highlights each week on the new Betting Hub on MLSsoccer.com.

IMG ARENA has extended its partnership with Major League Soccer to provide tracking data to MLS NEXT Pro. The extended agreement will see IMG ARENA integrate its deep tech, cloud-based platform to provide player and ball tracking data to MLS NEXT Pro to enhance their player performance analysis.

Appointments

The Board of Directors of the Campo Kumeyaay Nation’s Economic Development Corporation “Muht Hei Inc.” announced the appointment of Michael J. Broderick as the new General Manager of Golden Acorn Casino and Travel Centre.

Industry sales leader Lisa Carmona has joined the JCM Global (JCM) sales team, bringing with her a rich background and deep knowledge of digital signage and its impact on casino gaming customers. Carmona will be based in Las Vegas and will serve JCM customers in the Midwest.

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