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Canada

Intema receives TSXV conditional approval to proceed with acquisition of Livestream Gaming

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Intema announces the resumption of trading in its securities

 

Intema Solutions Inc. is pleased to announce that it has received conditional approval (the “Conditional Approval“) from the TSX Venture Exchange for the acquisition (the “Proposed Transaction“) of all of the issued and outstanding securities in the capital of Livestream Gaming Ltd. (“Livestream“). More information about the Proposed Transaction is included in the press release dated May 3, 2021.

“Today marks an important milestone for Intema,” said Laurent Benezra, Intema’s President and Chief Executive Officer. “We understood when we entered into the agreement with Livestream and took the deliberate decision to complete this transaction as a TSXV Issuer that we would need to invest the time and resources to meet their enhanced requirements and fully commit to the process. We have aggressively advanced the Proposed Transaction since, thanks to the attentiveness and solutions-oriented approach of the TSXV, to secure conditional approval of our Proposed Transaction.”

Having received the Conditional Approval, Intema anticipates its common shares will resume trading in the near future.

The completion of the Proposed Transaction remains subject to final approval by the TSXV and fulfillment of TSXV requirements, including among other things: (i) obtaining a gaming license pursuant to the Online Gambling Regulation Act 2001 of the Isle of Man prior to the closing of the acquisition of Livestream, and (ii) filing on SEDAR of a filing statement (the “Filing Statement“), which will include the audited financial statements of Livestream for the year ended December 31, 2020 and the interim unaudited financial statements as at September 30, 2021 with comparatives and pro forma financial statements. Readers are strongly encouraged to review the Filing Statement for full details on the Proposed Transaction.

In connection with the Proposed Transaction, the Corporation intends to change its name to “React Gaming Group Inc.” The name change will be effective at the closing of the Proposed Transaction and is subject to shareholder approval.

Mr. Benezra added, “Alongside the Proposed Transaction, we have been hard at work mapping out our migration under the Isle of Man gaming regime and expansion in new markets to position as a contender in the fast-growing esports gaming space and beyond. Having closed a $10 million non-brokered private placement and working towards a third and final tranche closing, we will be well funded for our near-term plans regarding the LOOT.BET platform as well as other initiatives, all aimed at unlocking value for our shareholders. I would like to thank all our loyal shareholders, old and new, yet again for their continued patience, and we are looking forward to resuming trading shortly.”

Livestream Acquisition

Intema and Livestream continue to progress towards the closing of the Proposed Transaction as previously announced. Its due diligence is completed, the definitive share purchase agreement is being finalized and the Corporation expects to have its Isle of Man gaming license hearing on December 9, 2021.

Livestream is a private corporation which owns LOOT.BET, a Curaçao licensed server-based real-money gaming platform and website, and a top brand in the world of esports betting.

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LOOT.BET is one of the global leaders in esports betting, with a focus on live betting, online gaming and supporting its 450,000+ registered users. Supported by a professional operational and software development team of over 50 employees, LOOT.BET is world-renowned not only as an established and reliable esports betting platform but also as a supporter of the esports industry. It is a regular sponsor of notable professional tournaments and teams and a partner of leading esports operators, studios and bright esports talents and influencers. It is also a proud supporter of the anti-corruption Esports Integrity Commission, helping the organization combat match-fixing and betting fraud, thereby contributing to the development and maturing of both the esports and the esports betting industries.

The table below provides a summary of Livestream management prepared current financial information, the re-audit of which is progressing and should be completed in December 2021:

For the year ended
December 31, 2020
(unaudited)
For the year ended
December 31, 2019
(unaudited)
(CA$)* (€) (CA$)* (€)
Total revenue 12,588,975 8,229,042 8,655,450 5,826,097
Operating profit 1,152,316 753,235 334,905 225,429
Net income/(loss) and comprehensive income/(loss) for the period 191,619 125,256 (158,398 ) (106,620 )
Total assets 4,656,474 2,983,389 3,406,902 2,336,215
Total liabilities 5,729,703 3,671,004 4,592,298 3,149,076
Total long-term liabilities
Cash dividends declared

* The profit and loss items use the year-to-date average CA$/€ exchange rates of 1.529823 for 2020 and 1.485634 for 2019; the balance sheet items use the year end spot rate of 1.5608 for 2020 and 1.4583 for 2019.

Canada

Maverick Games Launches Sports Betting Operations in Ontario

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Maverick Games has launched sports betting operations in Ontario, through a partnership with Delasport.

Maverick Games will offer Ontarian players a premium sports betting experience, built on Delasport’s superior technology and known for its unique innovative features that players love including personalization, recommendations, gamification, quick bets, player engagement features, and more.

Maverick Games is the second brand to launch on Delasport’s technology in Ontario, with another full turnkey brand set to go live soon. Delasport also recently unveiled its innovative sports betting jackpot network game, SuperPot. The company will showcase this unique product at the Canadian Gaming Summit next month and begin rolling it out to Ontarian operators shortly thereafter.

“We are proud to see Maverick Games live and thriving with our one of a kind sportsbook solution at its core. They have been a fantastic partner from the start, and this launch further demonstrates how fast and efficient our technology is when paired with a clear vision and strong collaboration,” said Rosaire Galea Cavallaro, VP of Business Development at Delasport.

“Maverick Games’s sports vertical is a major step forward for us and launching it with Delasport has been the right move from day one. The platform’s performance and flexibility allow us to deliver the kind of user experience we believe Ontario players deserve. We’re excited to now bring that vision to life,” CEO Matt Rathbun said.

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Canada

Tsleil-Waututh Nation Signs MoU to Acquire Casino Business at Hastings Racecourse & Casino

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Tsleil-Waututh Nation Signs MoU to Acquire Casino Business at Hastings Racecourse & Casino

 

Tsleil-Waututh Nation (TWN) announced that it has signed a Memorandum of Understanding to acquire the casino business and related real property interests at Hastings Racecourse & Casino (Hastings) in the City of Vancouver from Great Canadian Gaming Corporation (Great Canadian Entertainment).

“We are thrilled to take another important step towards economic self-determination for our Nation in our traditional territory, and we are eager to work with the senior management team at Great Canadian Entertainment to finalize due diligence and execute a definitive agreement, as well as working with the City of Vancouver to ensure the best long-term use of this important asset within the City. We believe that this opportunity is historic for us in many ways, and we look forward to entering the gaming industry in due course,” said Jen Thomas, Chief of the Tsleil-Waututh Nation.

“We are excited about working with TWN on their potential acquisition of the casino operations and related real property interests at Hastings Racecourse & Casino. Recognizing that Hastings is part of the TWN’s traditional territory, we can think of no better entity to inherit this asset, and we look forward to supporting them in the transition after the anticipated close of the sale,” Matt Anfinson, Chief Executive Officer of Great Canadian Entertainment.

The agreement is subject to further due diligence, finalization of financial terms and the execution of a definitive purchase and sale agreement. Once a definitive agreement has been executed by the parties, it is anticipated that the transaction will be subject to customary closing conditions as well as customary approvals by gaming regulatory and other authorities, including certain approvals by the City of Vancouver given its ownership of the real property. It is expected that Great Canadian Entertainment will provide transition services to TWN for a period of time following the anticipated closing.

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Canada

High Roller and Playtech Announce Strategic Partnership

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High Roller and Playtech Announce Strategic Partnership

 

High Roller Technologies and Playtech announced a strategic partnership for Ontario, Canada, that will see Playtech provide its industry-leading technology to power High Roller’s platform and premium brand, ensuring a seamless, high-quality experience for players in the region.

Ben Clemes, Chief Executive Officer at High Roller, said: “Collaborating with Playtech in Ontario is an exciting step for High Roller as we continue to grow and evolve. Playtech’s well-established technology will be instrumental to our mission of providing a world-class entertainment experience for our players.”

Sergey Harutyunyan, Chief Revenue Officer at Playtech, said: “We are delighted to partner with High Roller as they expand into Ontario. Playtech’s technology is designed to support operators in regulated markets, and we look forward to working together to provide High Roller’s players with safe, innovative, and engaging gaming experiences.”

Ontario represents a key market for both companies, featuring a robust regulatory framework and fast-growing player base. Recently, High Roller announced the submission of its Internet Gaming Operator license application for Ontario, and subject to licensing and regulatory approval, High Roller anticipates launching live operations in H2 2025.

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