Gambling in the USA
Galaxy Gaming Agrees to Purchase Progressive Games Partners Deal Gives Galaxy Direct Control over iGaming Activities
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.”
eSports
CAPCOM’S STREET FIGHTERTM 6 GOING TO COLLEGE THIS FALL
- CSMG will create and operate College Street FighterTM Tour in North America for the 2024-25 academic year
- College conference Street Fighter 6 champions will punch their ticket to the national Collegiate Esports Commissioner’s Cup (CECC) & May Madness in 2025
Gambling in the USA
Clark County residents can bring a friend for free to next week’s Super Bingo $160,000 tournament at the Plaza Hotel & Casino, May 6-8
Home to downtown Las Vegas’ only bingo room, the Plaza Hotel & Casino is offering Clark County, Nevada residents who register to play in next week’s Super Bingo tournament the opportunity to bring a friend for free.
Happening Monday, May 6 through Wednesday, May 8 in the Plaza’s expansive ballroom, Super Bingo is expected to draw nearly 1,000 people from the local Las Vegas valley and across the country and Canada for the opportunity to win big playing fun-filled games of bingo over two days, with a $50,000 super coverall both days while socializing with like-minded bingo players.
Bingo-only registration is $160 per person, and Clark County residents who register can bring a friend for free. Registration is available online at https://www.plazahotelcasino.com/bingo/super-bingo-registration/. Hotel-and-bingo packages start at $300 for a four-night stay with no resort fee.
All Super Bingo players receive one 6-on paper pack for both days, two daubers, free drinks via an open bar at all sessions, boxed lunch both days, and $10 in free slot play after the first day’s session.
The Plaza’s Bingo room offers six daily bingo sessions at 11 a.m., 1 p.m., 3 p.m., 5 p.m., 7 p.m. and 9 p.m. and is located on the 3rd floor. By parking on the third floor of the Plaza’s self-parking garage, guests have convenient and direct access to the Plaza’s bingo room and parking is validated for bingo players.
Gambling in the USA
Kambi Group plc extends Mohegan partnership with on-property sports betting agreement in Pennsylvania
Kambi Group plc (“Kambi”), the world’s trusted sports betting partner, has agreed a long-term on-property sportsbook partnership with Mohegan to provide its award-winning sportsbook at two retail locations in the state of Pennsylvania.
The partnership will see Mohegan utilise Kambi’s cutting-edge retail sportsbook offering across more than 20 kiosks in sportsbook locations at Mohegan Pennsylvania and Mohegan Pennsylvania at Lehigh Valley Race and Sportsbook.
The deal further strengthens Kambi’s relationship with Mohegan, which already utilises Kambi’s suite of sports betting products at ilani in Washington, as well as online and on-property in the Canadian province of Ontario at Fallsview Casino Resort and Casino Niagara.
Kristian Nylén, Kambi CEO and Co-founder, said: “With several successful partnerships with Mohegan already in place, we are pleased to agree this new partnership as we continue to build on our strong relationship.
“This latest deal further reinforces Kambi’s position as the sportsbook provider of choice for tribes across North America, and we look forward to our ongoing collaboration with Mohegan.”
Tony Carlucci, President & GM of Mohegan Pennsylvania, said: “Mohegan Pennsylvania is excited to continue utilising the same Kambi technology platform that existed under our Kindred partnership, which will help to create a seamless process as the Sportsbook at Mohegan Pennsylvania fully rebrands later this Spring.”
-
Interviews3 days ago
Women in iGaming Interview: White Hat Studios’ Holly Fairweather
-
Latest News3 days ago
White Hat Gaming strengthens executive team with Justin Psaila announced as new Chief Financial Officer
-
Compliance Updates4 days ago
Reputation matters – the importance of supplier licensing
-
Compliance Updates1 day ago
OpenBet bolsters compliance technologies with the launch of geolocation product, OpenBet Locator™, powered by Amazon Web Services (AWS)
-
Gambling in the USA1 day ago
Kambi Group plc extends Mohegan partnership with on-property sports betting agreement in Pennsylvania
-
Latin America3 days ago
Sportingtech Places New Local Talent Front and Center at BiS SiGMA Americas
-
Compliance Updates3 days ago
North Carolina Lawmaker to Introduce Bill to End College Player Prop Bets
-
Latest News4 days ago
Hard Rock International, Seminole Gaming, Royal Caribbean International and Celebrity Cruises Announce Global Partnership, Bringing Travel Benefits Across Land and Sea