Bragg Gaming Group Inc., a global B2B gaming technology and content provider, announced the issuance of a secured promissory note in the principal amount of US$7 million (the “Note”) to certain entities controlled by Doug Fallon, Managing Director of Group Content of the Company and the Founder of Nevada-based Wild Streak Gaming. The Note matures on April 25, 2025 and bears interest at an annual rate of 14%, payable quarterly.

“This financing provides the Company’s balance sheet with additional flexibility as we continue to review strategic alternatives for maximizing shareholder value and execute against our strategy,” said Matevž Mazij, Chief Executive Officer. “We would also like to thank The Lind Partners for their cooperation in providing a waiver consenting to the Note funding”.

“After reporting another consecutive full year of strong revenue, gross profit and Adjusted EBITDA growth in 2023, we are exceptionally well placed to capitalize on our in-demand content, product and technology verticals in major iGaming markets in North America, Europe and LatAm. From our market-leading player account management (“PAM”) platform and turnkey solutions to our unique casino content aggregation offering with Fuze™ promotional functionality and player journey management, as well as our ever-growing exclusive content portfolio, our product strategies are refined for each market we operate in.”

The Toronto Stock Exchange (the “TSX”) has conditionally approved the issuance of the Note. The Company may use the net proceeds from the Note for general working capital purposes and strategic initiatives.

New product allows American bettors to log-in directly to their bank accounts at online sportsbooks’ cashiers to fund real-time wagers 

Paysafe, a leading payments platform, today launched Pay by Bank for iGaming, a new solution allowing U.S. online bettors to instantly and securely fund deposits at operators’ cashiers directly from their online bank account as well as cash-out winnings seamlessly. This product expands the capabilities of Paysafe’s Gateway, the iGaming payments solution that connects U.S. operators to the market’s most comprehensive range of traditional and alternative payment methods via a single integration.

Building on Paysafe’s 25+ years’ history streamlining iGaming payments, the company added Pay by Bank to respond to the growing demand from U.S. players for payment choice. The Gateway already connects operators’ cashiers to Paysafe-processed card payments, the Skrill digital wallet, the Paysafecash online cash solution, and third-party payment products. Strengthening operators’ player acquisition, Pay by Bank provides their customers with yet another payment option that is particularly appealing  to the 27% of bettors who prefer transacting via direct bank transfer, according to Paysafe research.

Leveraging Paysafe’s single-integration Gateway, U.S. online gaming operators can now offer Pay by Bank to their customers, giving first-time users the ability to sync their checking or savings account in just seconds, then fund their player account securely in real-time. For returning bettors, the process is even easier, with Pay by Bank supporting one-click payments from linked accounts.

Winnings can be withdrawn from players’ sportsbook accounts just as seamlessly, with Pay by Bank enabling rapid payouts directly to linked bank accounts, again initiated through a single click.

For operators, all Pay by Bank transactions are indemnified, reducing liability if a player’s deposit from their bank account defaults. Along with helping to drive player acquisition by providing more payment choice, Pay by Bank’s other benefits for operators include strengthening customer retention by improving the overall payment experience. According to Paysafe research, transactional speed and financial security are players’ top-two priorities when it comes to the payment experience.

Zak Cutler, President of Global Gaming at Paysafe, said: “We’re delighted to unveil our new Pay by Bank product for our iGaming solution, which will almost certainly prove very effective in both converting and retaining players for U.S. operators, with the product’s impressive transactional speed and robust security. Through Pay by Bank, we continue to grow the Paysafe Gateway by providing American operators and their customers with unparalleled payment choices, all through a single integration.”

Paysafe will be showcasing Pay by Bank and the Paysafe Gateway while exhibiting (Booth A270) at the SBC Summit North America in New Jersey from May 7^th to 9^th, 2024.

Sports betting and online casino operator leverages company’s hosting and connectivity solutions across regulated United States states

Fanatics Betting and Gaming utilizes Continent 8 Technologies to deploy a trusted digital infrastructure as it continues its rapid growth across the regulated United States online sports betting and online casino market.

Fanatics Betting and Gaming uses Continent 8 Technologies’ innovative and reliable digital infrastructure solutions to deliver a seamless player experience in the United States. This includes hosting all of its in-state data centers through AWS Outposts. Continent 8 Technologies is supporting Fanatics Betting and Gaming by managing on-premises infrastructure and services in 20 states across the United States including Michigan, New York, Vermont and West Virginia, to name a few.

Continent 8 Technologies has one of the largest connected networks in the world, spanning over 100 locations across four continents including 30 United States states and counting.

The operator has also signed up for Continent 8 Technologies’ Gaming Exchange. This is a powerful, private Internet that allows Continent 8 Technologies’ customers to connect securely via a virtual private network (VPN) across its backbone network. This enables customers to share traffic at the lowest latency, securely and privately.

“We have worked with Fanatics Betting and Gaming – a top-tier United States operator – from day one of its launch, supporting it as it has grown state-by-state,” the founder and Chief Executive Officer for Continent 8 Technologies, Michael Tobin, said. “Fanatics Betting and Gaming is a high-caliber operator that understands the importance of infrastructure in delivering the top-quality player experience it is building its reputation on. Our leading digital infrastructure solutions provide the reliable connectivity operators need to deploy their online sportsbooks and casinos in regulated United States states quickly and compliantly.”

“Infrastructure is the foundation upon which we build our sports betting and casino experience,” the Vice-President of Technology for Fanatics Betting and Gaming, Bob Pascucci, said. “In Continent 8 Technologies, we have a partner with an unrivaled reputation for supporting its customers, enabling us to continue to drive growth at pace.”

Learn more about Continent 8 Technologies’ United States connectivity and infrastructure solutions at SBC Summit North America, May 7 to 9 at the Meadowlands Exposition Center, New Jersey, stand A290.