Press Releases
Apolo III Acquisition Corp. Announces Execution of Business Combination Agreement

Apolo III Acquisition Corp. is pleased to announce that, further to its news release dated March 8, 2021, it has entered into a definitive business combination agreement dated April 19, 2021 (the “Business Combination Agreement”) with Playmaker Capital Inc. (“Playmaker”) and 2830125 Ontario Inc. (“Apolo Subco”), a wholly-owned subsidiary of Apolo, incorporated, pursuant to the provisions of the Business Corporations Act (Ontario) (the “OBCA”) in connection with the proposed business combination of Apolo and Playmaker, which transaction (the “Qualifying Transaction”) is intended to constitute Apolo’s “Qualifying Transaction” (within the meaning of Policy 2.4 – Capital Pool Companies of the TSX Venture Exchange (the “Exchange”)).
The Business Combination Agreement provides for, among other things, a three-cornered amalgamation (the “Amalgamation”) pursuant to which, among other things: (a) Playmaker will amalgamate (the “First Amalgamation”) with Apolo Subco, (b) all of the post-Playmaker Consolidation (as described below) common shares of Playmaker (each, a “Playmaker Consolidation Share”) outstanding immediately prior to the First Amalgamation will be cancelled and, in consideration therefor, the holders thereof will receive post-Apolo Consolidation (as described below) common shares of Apolo (each, an “Apolo Consolidation Share”) on the basis of one (1) Playmaker Consolidation Share for one (1) Apolo Consolidation Share, and (c) the entity resulting from the amalgamation between Playmaker and Apolo Subco will subsequently amalgamate (the “Second Amalgamation”) with Apolo under the OBCA (the “Resulting Issuer”), and the Apolo Consolidation Shares outstanding immediately prior to the Second Amalgamation will be exchanged for the common shares of the Resulting Issuer (each, a “Resulting Issuer Share”) on the basis of one (1) Apolo Consolidation Share for each one (1) Resulting Issuer Share. After giving effect to the Qualifying Transaction, the shareholders of Playmaker will collectively exercise control over Apolo.
Prior to or on completion of the Amalgamation (the “Effective Time”), it is intended that: (i) the outstanding common shares of Apolo (each, an “Apolo Share”) will be consolidated (the “Apolo Consolidation”) on the basis of one (1) Apolo Consolidation Share for each 4.54 pre-Apolo Consolidation Apolo Shares, (ii) common shares of Playmaker (each, a “Playmaker Share”) will be consolidated (the “Playmaker Consolidation”) on the basis of one (1) Playmaker Consolidation Share for every 2.5 pre-Playmaker Consolidation Playmaker Shares, (iii) Apolo will change its name to “Playmaker Capital Inc.”, and (iv) provided the Escrow Release Conditions (as defined below) are satisfied, each Subscription Receipt (as defined below) will automatically convert into one Playmaker Consolidation Share prior to the Effective Time.
Completion of the proposed Qualifying Transaction is subject to, among other things, receipt of all necessary regulatory and shareholder approvals.
The Business Combination Agreement
The Business Combination Agreement contemplates that, among others, the following conditions precedent be met prior to the Effective Time, including, but not limited to, (a) acceptance by the Exchange and receipt of other applicable regulatory approvals; (b) completion of the Subscription Receipt Financing (as defined below); (c) receipt of the requisite approvals of the shareholders of Apolo (the “Apolo Shareholders”) with respect to the Apolo Consolidation, adoption of a new stock option plan (in such form as requested by Playmaker, acting reasonably) (the “Stock Option Plan”), the director appointments agreed upon by Apolo and Playmaker (the “Director Appointments”) and adoption of an advance notice by-law; (d) receipt of the requisite approvals of the shareholders of Playmaker with respect to the Playmaker Consolidation and the Amalgamation; (e) no adverse material change in the business, affairs, financial condition or operations of Playmaker or Apolo having occurred between the date of entering into the Business Combination Agreement and the closing date of the Qualifying Transaction; and (f) dissent rights shall have been exercised in respect of no more than 5% of the issued and outstanding Playmaker Shares. There can be no assurance that the Qualifying Transaction will be completed as proposed or at all.
The Amalgamation will not constitute a Non-Arm’s Length Qualifying Transaction (as such term is defined in the policies of the Exchange). No person who or which is a Non-Arm’s Length Party (as such term is defined in the policies of the Exchange) of Apolo has any direct or indirect beneficial interest in the share capital of Playmaker or its assets prior to giving effect to the Amalgamation and no such person is an insider of Playmaker. Similarly, there is no known relationship between or among any person who or which is a Non-Arm’s Length Party of Apolo and any person who or which is a Non-Arm’s Length Party to Playmaker.
If all conditions to the implementation of the Amalgamation have been satisfied or waived, Apolo and Playmaker will carry out the Amalgamation. Pursuant to the terms of the Amalgamation, it is expected that the following security conversions, exercise and issuances will occur among Apolo, Playmaker and the securityholders of Playmaker at or prior to the Effective Time:
- the Apolo Shares being consolidated on the basis of one (1) post-Apolo Consolidation Apolo Share for every 4.54 pre-Apolo Consolidation Apolo Shares;
- an aggregate of 23,875,000 options (the “Founder Options”) collectively held by Relay Ventures Fund III L.P., Relay Ventures Parallel Fund III L.P. Jordan Gnat and JPG Investments Inc. to acquire an equal number of Playmaker Shares at a price of US$0.00001 per Playmaker Share will be exercised;
- all issued and outstanding Class A Preferred Shares of Playmaker shall be converted to Playmaker Shares (subject to applicable adjustment for the Playmaker Consolidation);
- the Playmaker Shares (excluding the Playmaker Shares to be issued upon conversion of the Subscription Receipts and conversion of the Playmaker Debentures (as defined below)) being consolidated on the basis of one (1) Playmaker Consolidation Share for every 2.5 pre-Playmaker Consolidation Shares;
- the Subscription Receipts being exchanged, without additional consideration or further action, into Playmaker Consolidation Shares upon satisfaction of the Escrow Release Conditions;
- the 5.0% convertible debentures (the “Playmaker Debentures”) in an aggregate principal amount of $12,500,000 issued in connection with the acquisition of Futbol Sites LLC and Odenton Company S.A. by Playmaker on March 3, 2021 will be converted into Playmaker Consolidation Shares at a price equal to the greater of (i) $0.10 per Playmaker Consolidation Share, and (ii) 80% of the per-share price attributed to the Playmaker Consolidation Shares in connection with the Qualifying Transaction;
- each Broker Warrant (as defined below) to be issued to the Agents (as defined below) in connection with the Subscription Receipt Financing outstanding immediately prior to the Effective Time shall be exchanged for Resulting Issuer Share purchase warrants (the “Resulting Issuer Broker Warrants”) such that the holders of such Resulting Issuer Broker Warrants will be entitled to the purchase of one Resulting Issuer Share per one Resulting Issuer Broker Warrant;
- Apolo will acquire all of the issued and outstanding Playmaker Consolidation Shares such that all issued and outstanding Playmaker Consolidation Shares, including those issued in exchange for the Subscription Receipts and those issued on conversion of the Playmaker Debentures, will be exchanged, without additional consideration or further action, for Resulting Issuer Shares on the basis of one (1) Playmaker Consolidation Share for one (1) Resulting Issuer Share;
- each stock option of Playmaker (other than the Founder Options) and each warrant of Playmaker outstanding immediately prior to the Effective Time, whether vested or not vested, shall be cancelled and exchanged for comparable securities of the Resulting Issuer ( “Resulting Issuer Options” and “Resulting Issuer Warrants”) on economically equivalent terms, subject to adjustments contemplated by the Business Combination Agreement; and
- each stock option of Apolo outstanding immediately prior to the Effective Time, whether vested or not vested, shall be cancelled and exchanged for Resulting Issuer Options on economically equivalent terms, subject to adjustments contemplated by the Business Combination Agreement.
Immediately following the Effective Time, the Resulting Issuer is expected to have 178,813,069 Resulting Issuer Shares, 7,014,200 Resulting Issuer Options, 730,800 Resulting Issuer Warrants and 1,575,600 Resulting Issuer Broker Warrants issued and outstanding. As of the Effective Time, the current Apolo Shareholders will hold an aggregate of approximately 1,892,000 Resulting Issuer Shares, representing approximately 1.1% of the Resulting Issuer Shares. Immediately following the Effective Time, Playmaker is expected to hold 128,921,069 Resulting Issuer Shares (or approximately 72.1%) and the holders of Subscription Receipts (as defined below) are expected to hold 48,000,000 Resulting Issuer Shares (or approximately 26.8%) of the total issued and outstanding Resulting Issuer Shares.
Trading of the Apolo Shares was halted on April 6, 2020 as a result of the failure of Apolo to complete a Qualifying Transaction within 24 months of its listing on the Exchange, and is currently suspended and will remain suspended until completion of the Qualifying Transaction. Trading of the Apolo Shares will not resume prior to the completion of the Qualifying Transaction.
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BETesporte Reinforces Commitment to Sports with Major Investments Across Brazil

Investment in championships, clubs, and national teams expands media assets and positions BETesporte as a key player in Brazil’s sports market.
BETesporte, a betting platform that proudly carries “sports” in its name, is reaffirming its leadership in the industry by reporting consistent investment results over the past four months. While most betting platforms generate the majority of their revenue from online games (virtual casinos), BETesporte stands out as one of the few where sports betting leads the way — accounting for 65% of its total revenue, compared to 35% from online games. This figure directly reflects its brand strategy and commitment to strengthening Brazilian sports.
“Over the last four months, we’ve consolidated our presence on multiple fronts, focusing on strategic returns and high-quality visibility. We’ve sponsored several state championships in all regions of the country, including the Paulista, Paranaense, Carioca, Alagoano, Gaúcho, Pernambucano, Cearense, Catarinense, Baiano, and Mineiro tournaments, as well as the highly engaging Copa do Nordeste. We’ve also invested in Series A and B of the Brasileirão, placing our brand on Brazil’s biggest football stages and ensuring mass exposure with a high value per impression. It’s a strategic allocation of resources designed to generate brand impact and strengthen the Brazilian sports ecosystem,” said Thiago Carvalho, CFO at BETesporte.
Among the platform’s most notable recent acquisitions is brand exposure during Brazil’s national team matches in the World Cup Qualifiers — a move that reinforces BETesporte’s presence on the global football stage and strengthens its connection with fans during highly visible moments.
“We truly believe in the power of sports as a driver of connection and engagement. At BETesporte, we’re constantly investing in improving our platform with new features and more real-time betting options. Our marketing plan is performance-oriented: we aim to energize Brazil’s sports scene through active sponsorships in Series A and B of the national league — with master sponsorships, LED field displays, and direct club support. We bet on sports both as a passion and a business,” added Danylo Campos, CTO of BETesporte.
Beyond football, BETesporte is expanding its social impact by supporting up-and-coming athletes, providing financial assistance to help them compete and grow in sports like kickboxing, table tennis, and jiu-jitsu — an initiative that helps uncover new talent and democratize access to high-performance sports.
The company also maintains partnerships with traditional clubs like CRB, CSA, and Volta Redonda, reinforcing its regional presence and boosting local fanbases with strong community ties.
BETesporte’s credibility is further strengthened by the presence of legendary Brazilian football figures as brand ambassadors, including Zico, Vampeta, Diego Souza, and Macaé — personalities who bring even more legitimacy to the company’s presence in the sports world.
Gambling in the USA
California Gambling Control Commission Advances Licensing, Tribal Partnerships, and Responsible Gaming Initiatives

Sacramento, CA — In a meeting packed with regulatory updates and licensing decisions, the California Gambling Control Commission (CGCC) convened on April 24 to advance numerous agenda items impacting the state’s gambling landscape—from tribal gaming approvals to responsible gambling programs and operator renewals.
Problem Gambling & Public Health Takes the Stage
The Commission meeting opened with a presentation by Sosha Marasigan-Quintero from the California Department of Public Health, offering an overview and update on the California Problem Gambling Treatment Services Program. While no specific staff recommendations were provided, the update underscores California’s continued focus on behavioral health in gambling.
Tribal Revenue Distribution Approved
The Commission approved the quarterly distribution of payments from the Revenue Sharing Trust Fund to eligible recipient Indian Tribes. This routine, yet vital, procedure ensures the equitable distribution of revenue to support tribal sovereignty and infrastructure across the state.
Cardroom Licensing: Approvals and Extensions
Among key licensing matters:
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500 Club Casino (K & M Casinos, Inc.) received both initial and renewal owner-type license approvals through January 2027.
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Casino Chico, Hollywood Park Casino, and Lake Bowl Cardroom were granted renewals and short-term extensions, some with conditions such as improving record-keeping systems or ensuring regulatory compliance ahead of reopening.
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Hotel Del Rio & Casino was granted a 60-day extension under several strict conditions, including updated safety plans and the restatement of commingled financial records.
Key Employee Licensing Actions
The Commission approved several initial and renewal key employee licenses. Notably:
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Jeffrey Thompson was approved with a condition prohibiting involvement in illegal gambling activities.
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Kevin Lee and George Rahme received 120-day extensions for renewal processing.
Third-Party Proposition Player Services Under Scrutiny
The Commission approved both initial and temporary licenses for Fortune Players Group, Inc., with a lengthy list of conditions tied to the conduct of a former associate, Rene Medina. These conditions highlight the Commission’s ongoing vigilance in monitoring third-party player services and maintaining compliance across operations.
Progressive Gaming, LLC was also approved for an initial license, further expanding third-party service provider capacity.
Gaming Resource Suppliers & Tribal Approvals
Initial suitability findings for several prominent tribal gaming resource suppliers were approved, including:
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HCAL, LLC
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JCM Global
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Konami Gaming, Inc.
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PDS Gaming, LLC
Dozens of tribal gaming employees were also approved for key positions at tribal casinos across California, reflecting the Commission’s continued support of tribal gaming operations and the necessary workforce to support it.
Notable Withdrawals and Denials
In two notable cases, requests to withdraw license applications—Josephine Hoang and Jesus Bojorquez—were denied, signaling the Commission’s increased scrutiny and emphasis on applicant accountability.
A Broader Look Ahead
With regulatory reform on the horizon and ongoing efforts to promote responsible gaming, the April 2025 CGCC meeting showcased a mix of routine license management and deeper engagement with emerging compliance issues. As the Commission prepares for the next quarter, the groundwork laid in this session will likely influence policy developments and enforcement trends across California’s gambling sector.
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CONCEPT AND NEW GAMES REVOLUTIONIZE PALACE BINGO & SPORTS BETS IN CANCÚN

Palace Bingo & Sports Bets Casino in Cancún has taken a major step forward by introducing Zitro’s revolutionary CONCEPT cabinet line and new games that promise to elevate the gaming experience in this iconic Mexican tourist destination.
The newly installed titles—Legendary Sword, Triple Charm Journey, Fairyland Quest, and Merging Fu Pots —are designed to appeal to all types of players. They feature stunning graphics, innovative mechanics, and rewarding prizes that enhance the excitement of play.
Representatives from El Palacio de los Números commented: “The addition of Zitro’s games and CONCEPT cabinets at our Cancún casino has been an overwhelming success. Player feedback has been exceptional, with many praising the visual quality, engaging gameplay, and the wide range of prizes. This new offering is undoubtedly transforming the gaming experience on our floor.”
Johnny Ortiz Viveiros, founder of Zitro, added: “We’re very pleased that Palace Bingo & Sports Bets Casino in Cancún has again chosen Zitro to innovate its entertainment lineup. The combination of our CONCEPT cabinets and new games provides a unique player experience and drives profitability for the operator.”
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