Latest News
Relativity Acquisition Corp Signs LOI for $500M Merger with Mazaii Corp Ltd.
Relativity Acquisition Corp., a special purpose acquisition company, announced that it has entered a letter of intent (LOI) providing for a proposed business combination (the Transaction) that will result in Relativity acquiring 100% of the outstanding equity and equity equivalents of Mazaii Corp Ltd. The Transaction values the Company at an initial enterprise value of $500 million.
Mazaii is a Montreal-based innovator in the iGaming industry, specializing in the creation and distribution of cutting-edge online casino games and betting solutions. The company supplies its advanced gaming content and technology to prominent brands within the sector, enhancing their platforms and player experiences. Through strategic acquisitions, Mazaii Corp expands its market reach and strengthens its product offerings across key regions, including Europe, North America, Latin America, and Asia.
Tarek Tabsh, Chief Executive Officer and Chairman of Relativity Acquisition Corp., said: âThe iGaming industry is experiencing rapid growth, with increasing acceptance and legalization in various regions. Growing consumer demand, driven by the increasing penetration of smartphones and internet access, further fuels this expansion. The Mazaii international platform provides a significant opportunity for scalability and revenue growth. This transaction will enhance Mazaiiâs competitive advantage and market positioning.â
Eli Baazov, Mazaiiâs Chief Executive Officer, said: âWe are thrilled to share the transformative journey of Mazaii in revolutionizing the online gambling arena. We have fortified our position, expanded our market reach, and enhanced our innovative service offerings. With our in-house intellectual property and continuous organic growth, we are confident in our ability to disrupt the gaming landscape and achieve highly favorable results for our shareholders beyond 2024. This is just the beginning of our journey, and we are excited to shape the gaming industryâs future.â
The completion of the transaction is contingent upon several factors, including the completion of due diligence, the negotiation of a definitive agreement, the satisfaction of the conditions negotiated therein, applicable regulatory approvals, and approval of the transaction by the board and stockholders of both companies. Upon reaching a definitive agreement, the parties shall disclose additional details regarding the proposed transaction. Subject to the absence of unforeseen circumstances, the transaction is anticipated to be finalized in the second half of this year.
Compliance Updates
PA Gaming Control Board Renews License for Wind Creek Bethlehem Casino
The Pennsylvania Gaming Control Board (Board) unanimously voted to renew the Category 2 stand-alone casino license of Wind Creek Bethlehem LLC, operator of Wind Creek Bethlehem casino in Northampton County.
In making the decision, the Board determined that Wind Creek Bethlehem LLC had fulfilled the obligations under its previously approved casino operatorâs license and therefore qualified to have its license renewed for an additional five-year period.
The decision to renew the license was based on a process utilized by the Board that enables both the operator and the public to provide information relevant to the renewal decision. A public input hearing was held in July 2024 in the casinoâs host municipality, the City of Bethlehem, where personnel of Wind Creek Bethlehem submitted exhibits and presented testimony on various aspects of the facilityâs operation since its last license renewal was granted. The public was also permitted to provide testimony about the casino and its impact in the community.
In reaching its decision, the Board also received information from local government officials, community groups and the PA State Police, along with the Gaming Control Boardâs Office of Enforcement Counsel, Bureau of Investigations and Enforcement, Office of Compulsive and Problem Gaming, and Bureau of Casino Compliance.
Additionally, a public hearing was held in Harrisburg to permit Board members to further question Wind Creek Bethlehem LLC representatives about any remaining issues prior to voting on the renewal.
Since its opening in May 2009 through September 2024, Wind Creek Bethlehem has generated over $7 billion in revenue from the play of retail slot machines and table games, sports wagering and iGaming, and has returned to the Commonwealth a total of $2.9 billion from tax revenue, assessments and fees. Wind Creek Bethlehem currently operates 2318 slot machines, 202 table games and a 20-table poker room while providing employment to 2242 persons directly or through third-party tenants in the events center, food and beverage outlets or retail stores. 94% of those employees are Pennsylvania residents.
Compliance Updates
PrizePicks Awarded Fantasy Sports Licenses in Delaware and Missouri
PrizePicks, the largest daily fantasy sports operator in North America, announced it has been awarded Daily Fantasy Sports Operator Licenses in Delaware and Missouri. The company will launch Arena, its innovative peer-to-peer fantasy sports contest, in both states.
âWe are proud that Arena has been approved in every state where it has been submitted. Weâve seen strong player adoption to date and we look forward to replicating our success in these new markets with a fun gaming experience. Weâd like to extend our gratitude to the Delaware Division of Gaming Enforcement, the Delaware Lottery, and the Missouri Gaming Commission for their thoughtful collaboration,â said PrizePicks CEO Mike Ybarra.
Arena offers a unique leaderboard style peer-to-peer gaming experience, allowing players to compete for prizes against one another. Participants are grouped based on their number of entries and experience level. Since launching in January, players on Arena have built over 20 million peer-to-peer lineups. With these new state launches, Arena will now be available in 15 states across the US.
Latest News
BetRivers Introduces PropPacks, an Innovative Feature for the NBA Season
For many sports lovers, one of the great joys has been opening a pack of player cards to see which professional athletes were inside.
This NBA season, the team at Rush Street Interactive Inc., which operates the BetRivers Sportsbook, plans to replicate that experience with the unveiling of PropPacks. The simplicity of the new digital game, combined with the chance for large payouts, will appeal to both seasoned bettors and those new to sports betting.
Customers who wager $10 or more on qualifying Same Game Parlays (SGPs) will randomly receive up to three PropPacks per game, at no extra charge, from one or both teams in the game. If the relevant NBA players score over the point totals on the card, then the bettors win! There are props for 20+, 30+, 40+, and 50+ with higher prizes for each threshold.
There are three tiers of player cards; bronze, silver, and gold. Bronze cards are the most common, with Gold being the rarest. Gold cards offer the highest potential prizes, with a potential maximum jackpot prize of $10,000 in Bonus Credits.
âPropPacks, which is exclusively available on RSIâs platform to BetRivers Sportsbook players, will give NBA fans an additional thrill by offering extra bonus opportunities on their SGP bets. The player card game makes watching the action even more exciting by offering bettors at all levels, from those placing a bet for the first time to experienced sports wagerers, more ways to win from existing SGP bets at no additional cost to our bettors. PropPacks reinforces our dedication to put our players first by creating value for them while elevating the betting experience in fun and exciting ways,â said Richard Schwartz, CEO at RSI.
In addition to the PropPacks promotional game, RSIâs sportsbooks will have a full suite of promotional offers this basketball season, including NBA Parlay Insurance and a pre-season NBA Futures Bet & Get offer. Players can download the BetRivers app and click âPromotionsâ to view the full offering.
âPropPacks is a game changer and, as we head into the NBA season, we are very excited to offer a unique and innovative product that you can only find at the BetRivers Sportsbook. We are giving customers more chances to win bonuses and prizes, ultimately enriching the bettor experience and providing more value back to our loyal players,â Schwartz said.
BetRivers Squares is back for another season and will be offered on all NCAA College Basketball games. Qualifying Same Game Parlay bets of $10 or more on a game earns the customer a square, at no extra charge, with a $25 wager resulting in two squares and a bet of $50 or more worth three squares.
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