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Gaming Innovation Group – Minutes from Annual Meeting of Shareholders

George Miller

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Gaming Innovation Group - Minutes from Annual Meeting of Shareholders
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The Annual Meeting of Shareholders in Gaming Innovation Group Inc. was held today, Tuesday 19 May 2020 in Stockholm, Sweden. Shareholders representing 55.3 per cent of the shares entitled to vote were present in person or by proxy.

The Annual Meeting approved the Company’s Annual Report for 2019.

The Annual Meeting resolved that the Board of Directors should consist of five members and resolved to re-elect Petter Nylander as Chairman of the Board and to re-elect Henrik Persson Ekdahl and Helge Nielsen, and to elect Nicolas Adlercreutz and Kjetil Garstad as Directors of the Board. It was resolved that the remuneration of the Chairman of the Board of Directors shall be EUR 85,000 per annum and that the remuneration to the other members of the Board of Directors shall be EUR 40,000 per annum each. The remuneration to the audit committee shall be EUR 10,000 to the chairman and EUR 5,000 to the audit committee members, and for the remuneration committee, EUR 5,000 to the chairman and EUR 2,500 to the remuneration committee members.

The Annual Meeting further resolved that the Nomination Committee shall consist of not less than three and not more than four members, of which one shall be the Chairman of the Board of Directors, to represent all shareholders, and be appointed by the three largest shareholders at 31 August 2020.

It was resolved to reappoint Israeloff Trattner & Co. PC as auditors of the Company.

The Annual Meeting also resolved to authorise the Board of Directors to buy back already issued and outstanding shares in the Company and to dispose of such shares, all on such terms as the Board of Directors may deem fit. The Company’s total holding of its own shares may not exceed 10% of the outstanding share capital of the Company at any time. Acquisition of own shares may take place on NASDAQ Stockholm and Oslo Børs, during the period until the end of next Annual Meeting of Shareholders.

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ODJ Survey Reveals France’s Gambling Activity Declines, Problem Gambling Rises

Niji Narayan

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ODJ Survey Reveals France’s Gambling Activity Declines, Problem Gambling Rises
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The latest survey by Observatoire des jeux (ODJ), the regulating body that monitors the gambling activity of France, has revealed that gambling activity in the country is declining, but the cases of problem gambling rise.

Problem gambling is one of the biggest setbacks of the gambling industry. Protocols that ensure that players are protected from themselves are required for every company before approval of their licenses.

The decline in gambling activity for a country could mean two things. First, the country gets lesser revenue from the industry. And it also means that fewer people are attracted to gambling which means more money for their families.

ODJ reported that 47.2% of the ten thousand respondents are engaged in some gambling last year, a decline from the 2014 survey’s 57.2%.

The report also showed that the country’s excessive gambling activity doubled from 0.8% in 2014 to 1.6% in 2019. Gamblers at risk of becoming problem gamblers rose from 3.8% in 2014 to 4.4% last year.

The regulating body concluded that around 370 thousand French adults are problem gamblers, while about 1 million are at risk of becoming one. ODJ also claimed that 6% of spending on problem gamblers and those at risk of becoming one contributed 38.3% of all gambling spending in 2019.

The survey also revealed that lottery games lead France’s gambling activity, but problem gambling among lottery players remained low at nearly 1%. The report revealed that lottery scratch games are twice more addictive than traditional draw games. Poker and casino players are four times more prone to problem gambling compared to lotteries, while sports and race betting is six times more addictive.

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Industry News

Holland Casino Reopens to Public

Niji Narayan

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Holland Casino Reopens to Public
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Holland Casino has reopened the doors of all 14 of its facilities on July 1. The opening act was performed in the atmospheric dome hall of Holland Casino Amsterdam Centre by singer Tino Martin and CEO Erwin van Lambaart.

Under the supervision of croupier Sharize, the first spin on the roulette table was symbolically given. This ended the closure of almost four months.

“We are very happy that we are open again and that we can fulfill our social task. As of today, our valued guests can safely and responsibly enjoy our hospitality and our exciting range of games during a pleasant afternoon or evening. We have fully furnished all branches in accordance with the 1.5 meter guidelines, while retaining the atmospheric ambiance that the Netherlands is used to from us. Not only the latest slot machines, but also the familiar table games such as Black Jack and Roulette are available again today. Our restaurants and bars are also open. We do ask everyone to make a reservation and adhere to the known guidelines. Our 4,000 employees are ready for our guests with special instructions,” Erwin van Lambaart, said.

“I love this beautiful location in the middle of our capital. A few weeks ago I recorded a number of acoustic sessions in this intimate dome room for my fans and for the employees and guests of Holland Casino. That was of course very special to be allowed to do and it produced beautiful images, but at the same time it was also very unreal. I am very happy for all the people at Holland Casino that they can get back to work and that everyone can return here for a relaxing afternoon or evening,” Tino Martin said.

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Industry News

Dutch Legal Protection Minister Seeks to Ease Tensions Over Gaming Addiction

Niji Narayan

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Dutch Legal Protection Minister Seeks to Ease Tensions Over Gaming Addiction
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Sander Dekker, the Netherlands’ Minister for Legal Protection, has spoken out against a ban on online games over the potential risk for addiction among young people. Instead, he explained that the Dutch authorities will focus on prevention and treatment.

Responding to a question from Socialist Party politician Michael van Nipsen on how gambling legislation is enforced in relation to video games, Dekker looked to highlight the distinction between video games and games of chance.

He explained that gaming was a popular and generally accepted leisure activity for young people, pointing out that players used games to socialise online, and noted the products could even help minors develop skills. However, Dekker acknowledged that these games, especially free-to-play online titles, could be designed in a way that encouraged continuous play.

He said a changing revenue model meant that rather than purchasing the titles outright, online games were often offered for free, with players purchasing in-game items to enhance the gameplay. Microtransactions could build up, meaning users spent significantly more than they intended, and some elements where blind boxed items such as loot boxes were purchased for cash could – and have – been classed as gambling.

He admitted that some young people developed problems, to the point that it could be classed as an addiction.

This was not enough to justify a total ban on these games, Dekker said, noting there was no “one size fits all” approach to preventing gaming addiction.

“Prevention and education are, in the case of (online) gaming, a task shared by the national government and the gaming industry itself,” he explained.

Dekker pointed out that he has asked the Ministry of Justice and Security’s research centre, the Wetenschappelijk Onderzoek- en Documentatiecentrum (WODC) to investigate links between gaming and gambling addiction, as well as identifying gaps in current and incoming regulations.

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