Canada
PLAYMAKER ACQUIRES GAMING PRODUCT TWO-UP
Playmaker Capital Inc., the digital sports media company that lives at the intersection of sports, betting, media and technology, has broadened its range of core competencies with the acquisition of leading digital product agency Two-Up Agency Ltd. (“Two-Up”). Two-Up provides technical solutions to the online gaming industry’s biggest brands, bringing best-in-class technology tools and in-depth knowledge and expertise of the market to clients including News International, BetGenius, William Hill, AtTheRaces, SkyBet, and Sporting Solutions.
Two-Up was founded in 2016 by gaming technology expert Robbie Morris who now joins the Playmaker leadership team. Playmaker’s acquisition of Two-Up will add a team of 24 experienced sales and technology experts spread across two primary offices in London, UK and Krakow, Poland. This team includes 15 engineers with deep experience in the development of regulated betting products, monetization tools, free-to-play games, and APIs into major real money gaming operators.
Two-Up owns an unrivalled collective expertise of the complex market within which the business operates. Among the specialist skills Two-Up provides its clients are contextual ad widgets, including integrated betslips with conversion and tracking management; the creation, production and integration of scoreboard and data visualizations; product development, including native content, through sports, casino, bingo and esports; and free-to-play application builder services, all supported through a series of back-end engines and content management systems.
Within the Playmaker ecosystem, Two-Up’s core technology products will be integrated into Playmaker’s newly announced proprietary technology stack, Playmaker Bench. Playmaker Bench features a collection of best-in-class technology tools, integrated into a proprietary software platform that is designed to enhance user engagement and supercharge monetization. Two-Up’s myriad of products and areas of technical expertise will offer immediate value add to Playmaker Bench.
“Playmaker is a natural fit for Two-Up. We complement the existing strengths within Playmaker well, and, as part of the Playmaker Bench technology suite, we will enhance Playmaker’s monetization efforts across owned and operated properties,” commented Robbie Morris, Founder and CEO of Two-Up. “We’re excited and delighted to become a part of the Playmaker family. This opportunity will allow us to strengthen our core competencies, meaning existing and future clients will continue to benefit from what we set out to deliver in 2016, which is a first-class service.”
“I am pleased to welcome Two-Up into the Playmaker family, and am excited about how Robbie and his team will help bolster Playmaker’s technology offering,” added Jordan Gnat, Playmaker Founder and CEO. “Two-Up has deep relevance, credibility and unrivalled connections within the online gaming world globally. With this acquisition, we have added yet more value to our shareholders, and taken another step towards achieving our mission of building an ecosystem of assets that will provide sports fans and our clients with outsized value.”
TRANSACTION DETAILS
Pursuant to the terms of a purchase agreement dated August 31, 2021, Playmaker acquired 100% of Two-Up for aggregate consideration of up to US$5.75 million. The purchase price consideration consisted of a payment of US$750,000 in cash, the issuance of US$2.5 million of Playmaker common shares (the “Playmaker Shares”) at the Canadian dollar equivalent of CAD$0.60 per Playmaker Share and up to a maximum of US$2.5 million in the form of an earn-out, payable to the sellers upon Two-Up achieving certain EBITDA and revenue targets over the three-year period following closing. In addition, the sellers are eligible to receive a bonus earn-out in the event the EBITDA and revenue targets are exceeded.
Jackpot Digital Inc., a leading provider of innovative dealerless electronic poker gaming solutions, has announced that the Alcohol and Gaming Commission of Ontario (AGCO) has approved the Company to be licensed as a registered Gaming Related-Supplier (the “Supplier License”) under the Gaming Control Act in the Province of Ontario.
This significant achievement allows Jackpot Digital to enter one of the most dynamic and rapidly growing regulated gaming markets in North America. The Supplier License authorizes Jackpot Digital to supply its electronic table games to Ontario’s gaming venues, including casinos and other regulated gaming facilities.
Jackpot Digital’s flagship product, the Jackpot Blitz electronic table game system, offers a modern, dealerless, player-friendly solution that integrates traditional multiplayer poker games with cutting-edge digital technology. The Supplier License will enable the Company to offer its innovative gaming solutions to operators throughout Ontario, driving new revenue opportunities and enhancing player experiences.
“Receiving AGCO’s approval is a major milestone. This approval provides us with the opportunity to offer our top-tier electronic gaming systems to operators throughout all of Ontario, positioning us for further growth in one of the world’s most robust gaming markets. We are excited to bring our innovative products to Ontario’s gaming community and continue our commitment to providing exciting, technology-driven entertainment experiences,” said Jake Kalpakian, CEO of Jackpot Digital.
Play’n GO, the world’s leading casino entertainment provider, has announced further expansion of its Canadian operations via a partnership with leading operator PointsBet in the province of Ontario.
The Swedish-founded gaming giant’s games will now be available to PointsBet players in the Canadian province, meaning classic titles such as Book of Dead, Rich Wilde and the Tome of Madness, and Reactoonz will now be available on the PointsBet platform.
The province of Ontario regulated online casino gaming in 2022, which saw Play’n GO enter the Canadian market for the first time. The company expanded into the province of Quebec earlier this year, and, as of June 2024, is also a proud member of the Canadian Gaming Association.
Magnus Olsson, Chief Commercial Officer at Play’n GO, commented, “Back in 2022, I said that “North America is right at the top of Play’n GO’s priority list, and Ontario is just the first step we plan to take”. This partnership with PointsBet shows we have yet to take our foot off the gas. We’ve proudly watched our games become instant hits in our two and a half years in the Ontarian region, and we have no plans to slow down any time soon.
“It’s exciting to team up with a fellow Canadian Gaming Association member in PointsBet, and we can confidently say that we are working towards the same goal of a safe, regulated industry that is focused on player entertainment. We’re looking forward to working closely together following this milestone announcement.”
Scott Vanderwel, Chief Executive Officer at PointsBet, shared “Play’n GO has built a strong reputation for delivering high-quality game content, and we’re thrilled to bring their titles to our platform. At PointsBet, our focus is on providing a safe and engaging entertainment experience for our players, and it’s clear that Play’n GO aligns with those values. Canadian casino enthusiasts recognize PointsBet as a trusted leader in iGaming, and this collaboration further enhances the exceptional experience we offer.”
Canada
VICI Properties Inc. Enters into Agreement with Indigenous Gaming Partners Related to PURE Canadian Gaming
VICI Properties Inc. announced that it has entered into an amendment and consented to the assignment of the master lease agreement with PURE Canadian Gaming Corp. (PURE) to an affiliate of Indigenous Gaming Partners Inc. (IGP), in connection with the acquisition of the operating assets of PURE by an affiliate of IGP.
IGP is a partnership of five institutional First Nations established to acquire gaming assets in North America. IGP has partnered with Sonco Gaming, one of Canada’s most experienced casino developers and managers, who will assist in the sourcing and execution of casino gaming investments, as well as management oversight of IGP’s portfolio.
Danny Valoy, Vice President of Business Development and Acquisitions, said: “This transaction demonstrates VICI’s ability to collaboratively work with existing partners while building new relationships with highly experienced operators and First Nations in international jurisdictions. We are pleased to welcome IGP as a new partner, and we look forward to expanding our relationship with IGP and Sonco as they pursue additional growth opportunities in the future.”
Anthony Novac, CEO of Sonco, said: “We are excited to work with VICI, an established partner in providing financial solutions to the gaming industry. We believe having a partner like VICI will give us a competitive advantage as we seek growth opportunities in the Canadian market.”
In connection with entering into the amendment to the PURE Canadian master lease, VICI received a 5-year right of first offer (ROFO) on future sale-leaseback transactions. Any additional properties acquired pursuant to the ROFO will be added to the master lease.
The annual base rent of C$22.0 million (US$15.5 million based on the CAD:USD exchange rate as of December 9, 2024) and other economic terms of the PURE Canadian master lease will remain unchanged, including a base term of 25-years with four 5-year tenant renewal options, escalation of 1.25% per annum in lease year 3, with escalation equal to the greater of 1.5% and Canadian CPI (capped at 2.5%) starting in lease year 4, and a minimum capital expenditure requirement equal to 1.0% of annual net revenue. The lease, currently in lease year 2 and escalating on February 1 of each year, encompasses the following assets in Alberta, Canada: PURE Casino Edmonton, PURE Casino Yellowhead, PURE Casino Calgary and PURE Casino Lethbridge.
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