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i3 Provides Corporate Update

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i3 Provides Corporate Update

 

i3 Interactive Inc. – is pleased to provide a corporate update to its patient shareholders.

i3’s strategy remains as it was when the company was formed: assemble an experienced management team to build an online gaming presence globally. Since inception the Company has had several key developments towards this goal. Starting with key markets of focus in the United States, Canada, and India, the Company has made progress that will continue to drive growth in these markets and serve as a springboard into additional markets as the foundation continues to set. These initial markets were chosen based on current opportunity, future potential, regulatory posture and relevant management experience. i3 has put together an executive team with over 100 years of online gaming experience, launching and operating companies and brands in these specific markets, among others, and have subsequently assembled operations teams with commensurate experience.

With this strategy in mind, i3 in the first instance built out a plan to move into one of the fastest growing online gaming markets in the world in India with a vision to create a destination for the growing number of online gamers looking for entertainment in the skill based online gaming category. The market is still in its early stages yet has already seen several unicorns with the likes of Dream111 and Mobile Premier League2 (MPL) as recent examples, along with other material transactions such as the 50.06% investment by Flutter Entertainment in Junglee Rummy for US$66MM.3 i3 has executed against its strategy by investing in fantasy sports, poker, rummy, and other skill-based games showing unprecedented growth in India. The objective being to create an ecosystem of players engaged in online skill-based gaming entertainment and providing them with a second to none experience across a multitude of gaming products. These investments include:

  • BLITZPOKER – which has seen a 51% year-on-year growth in gross gaming revenue4 and 205,000 new players within the last 12 months.
  • BLITZPOOLS – which has exceeded 4,000,000 players, which helps reduce the cost of acquisition per player based on cross selling to BLITZPOKER and other more profitable products offered by i3.

As an extension of this strategy, on April 20, 2021, the Company announced the signing of a binding LOI to acquire a leading gaming company in India (the “Target”). On May 14, 2021, the Company completed the initial funding commitment of US$5,000,000. Since then, the Company had been working diligently with the Target executive on an acquisition structure with a satisfactory valuation factoring in the Target’s rapid growth and ultimately agreed i3 would for the time being remain a shareholder in the Target while further discussions continue. Upon conversion of the initial funding into equity of the Target, i3 will own approximately 4.9% of the Target. This initial funding was used by the Target for marketing and branding, specifically in their fantasy, poker, rummy and skill-based games. The Company has informed the Canadian Securities Exchange (the “CSE”) that the acquisition of the Target as previously presented has been terminated and is the midst of finalizing its annual information form, which will allow the trading halt to be lifted in the coming days.

In parallel to the investment in the Target, i3 had already been aggressively growing its own ecosystem of online gamers by way of its majority acquisition of what is now BLITZPOKER, one of the fastest growing online poker companies in India. i3 also acquired a stake in the rapidly growing fantasy sports market by way of its investment in what is now BLITZPOOLS. i3 will provide further updates on both of these businesses in the coming weeks.

Further and in keeping with its strategy to build a loyal player base and provide value across a multitude of products, i3 has entered into an LOI to acquire 100% of one of the top gaming brands in India. Further details of this LOI will be provided in subsequent releases once the Company has completed its due diligence of the target. The Company is excited to move forward with this opportunity as it fits squarely within i3’s strategy of building its online ecosystem, which gamers will enjoy and benefit from, as the rewards and service will reflect the loyalty i3 will continue to provide to its customers.

North America

On March 16, 2021, the Company announced its strategy to enter the US market. i3 and its JV partner, being a large US-facing commercial partner, are able to offer online gambling expertise, including management of online operations, official data feeds, marketing services, trading solutions and a sportsbetting platform. i3 and its JV partner offer land-based casinos a turnkey solution, using the casinos’ existing licenses to offer market access and a local brand, to offer online gaming to their existing customer base. i3 and its JV partner continue to identify potential clients for their services in the North American gambling market in line with its North America strategy. i3 and its JV partner have identified several potential clients that are at various stages of discussions and negotiations with these potential partners. As more new US States legalize and regulate sports betting and iGaming, i3 will seek further opportunities in these jurisdictions.

The Canadian market is one i3 has long been and remains excited about, having already launched a product in market. With recent developments in regulation, starting with the province of Ontario but likely leading to other provinces following suit, i3 has decided to remove its Canadian offering and is actively going through a licensing evaluation process.

Litigation Updates

Dan Bilzerian and Blitz NV, LLC have commenced actions against the Company, in Canada for breach of contract, and in the United States for trademark infringement. The actions arise from a dispute between the Company and Mr. Bilzerian relating to the lack of services provided by Mr. Bilzerian after he received compensation. Mr. Bilzerian asserted that a rogue employee, who did not have authority, entered into various Bilzerian Agreements (as defined in the Company’s Listing Statement dated June 29, 2020, a copy of which and copies of the Bilzerian Agreements are available on SEDAR). Despite initially denying the validity of the Bilzerian Agreements, and refusing to fulfil his obligations thereunder, in an about-face, Mr. Bilzerian brought a claim asserting i3 breached the Bilzerian Agreements. As such, the Company believes the subject matter of these claims to be without merit and intends to defend and counterclaim in Canada and intends to the proceed in a similar fashion in the United States.

In addition, Christopher Neville, commenced an action against the Company claiming wrongful dismissal and punitive damages. The Company believes the subject matter of the claim to be without merit and has brought a separate Claim against Mr. Neville for misappropriation of Company funds, breach of fiduciary duty and defamation.

International News

WA.Technology Announces Global Alliance with Lottery.com

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WA.Technology, a leading B2B iGaming solutions provider, is delighted to announce its alliance with leading online lottery brand Lottery.com. The announcement was made at ICE London 2024.

The agreement and the combined operational partnership mark a significant step in WA.Technology and WA.Lottery’s expanding reach into new markets and Lottery.com’s global growth strategy across Africa, the Pacific Region, Brazil, and other parts of Latin America.

Under this alliance, WA.Technology will extend its full spectrum of iGaming platform solutions and manage daily operational activities to support Lottery.com’s expansion. This will encompass a range of services, including affiliate and lead generation strategies, comprehensive legal services, compliance, regulatory, and financial management. The aim is to maximise Lottery.com’s earning potential in global markets over the coming years.

The agreement comes when the global lottery industry is witnessing substantial growth, driven by the increasing popularity of mobile and online lottery sales. WA.Technology, with its leading WA.Lottery solutions, assist existing and new lottery operators in capitalising on new opportunities in their target markets.

Tim Scoffham, CEO of WA.Technology, expressed his enthusiasm, stating, “This is a fantastic step in the journey of WA.Technology, and we are excited to be on board with this esteemed lottery brand. We love their vision for creating a global destination for lotteries and are thrilled that Lottery.com has chosen us to be their operational partner. With over 200 team members worldwide, we are perfectly positioned to support and help them achieve their goals and see their vision come to life.”

Matthew McGahan, CEO and Chairman of Lottery.com, added, “Our new relationship with WA.Technology marks a pivotal moment in Lottery.com’s growth strategy, especially in the burgeoning South American market. By leveraging WA’s operational efficiencies and proven expertise in this region, we are poised to enhance our global footprint significantly. This collaboration allows us to concentrate more effectively on US ticket operations, the relaunch of the WinTogether sweepstakes business, and the roll-out of Sports.com. We are confident that our purchase of WA.Technology’s robust platform and its comprehensive iGaming solutions will complement our vision for global expansion, helping to make Lottery.com a household name in the lottery domain worldwide.”

WA.Technology’s commitment to this new agreement reflects the company’s dedication to global expansion and its capability to deliver tailored solutions in a wide range of global markets with a significant impact on online lotteries.

WA.Technology’s specialist lottery vertical, WA.Lottery is the ultimate toolkit for new lottery ventures, offering a diverse range of 70+ global lotteries, personalised gaming options such as sweepstakes and scratch cards, and e-commerce platforms with extensive payment options and jackpot coverage, all complemented by an intelligent management system that enhances user engagement and scales effortlessly to meet the needs of any lottery business.

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International News

SCCG Management Announces Strategic Partnership with WhiteLotto for Distribution of Lottery Software Solutions

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SCCG Management Announces Strategic Partnership with WhiteLotto for Distribution of Lottery Software Solutions

 

SCCG Management, a global leader in advisory services for the gambling industry, proudly announces its strategic partnership with WhiteLotto, a subsidiary of the esteemed GG International brand. This alliance marks a significant step in expanding the reach and capabilities of both companies within the global lottery and gambling sector.

WhiteLotto’s platform and solutions are a one-stop solution for launching a successful lottery business, encompassing the best lotteries, technical and marketing support, licenses, extensive marketing tools, an affiliate program, and support for over 40 languages. Their flexible models of cooperation and a blend of online and offline technology cater to a wide range of lottery messenger services and national lotteries worldwide.

Stephen Crystal, Founder and CEO of SCCG Management, commented, “Our partnership with WhiteLotto is a landmark moment for us. WhiteLotto’s cutting-edge lottery platform and its global operational model perfectly align with our vision of connecting the industry’s best products and services. We are thrilled to collaborate with a company that has such a profound understanding of the lottery sector, and we look forward to bringing WhiteLotto’s exceptional offerings to our extensive network of clients.”

Wojciech Lysak, Managing Director of WhiteLotto, expressed his enthusiasm about the partnership: “The WhiteLotto team is proud to partner with SCCG. WhiteLotto’s business model was always to stay outside the flashlights, working from backstage in a peaceful and calm atmosphere delivering quality projects always on time, while being referred from project to project by word of mouth. Having cooperation with SCCG, which in WhiteLotto’s humble opinion is the industry superstar in terms of networking and connection of good businesses, WhiteLotto products can now be presented to a more broader audience of worldwide operators.”

This strategic partnership enables WhiteLotto to leverage SCCG’s vast network and expertise in the gambling industry, allowing them to expand their reach and showcase their innovative lottery solutions to a broader audience. For SCCG, collaborating with WhiteLotto adds a new dimension to their client partner ecosystem, which comprises over 100 of the top products, platforms, and solutions in the industry.

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International News

CT Interactive Signs Deal with Torrero Platform

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CT Interactive has signed a key deal with Torrero Platform N.V and Тorrero Ltd, prominent players in the iGaming industry.

“We are so proud to partner with Torrero. Torrero Platform is a leading player in the iGaming industry, offering a comprehensive suite of solutions designed to empower operators and enhance player engagement. Through this partnership, we will increase our presence in Europe, Brazil, Mexico and Asia,” Lachezar Petrov, CEO at CT Interactive, said.

With a focus on delivering exceptional gaming experiences, CT Interactive continues to push boundaries in the iGaming space through its commitment to quality, creativity, and player-centric offerings.

Antonio Donov, Business Development Manager EMEA at CT Interactive, said: “The collaboration between CT Interactive and Torrero Platform is underpinned by a shared commitment to delivering excellence in the iGaming space. By combining our resources, knowledge, and networks, both companies stand to benefit from the partnership.”

Aleksei Tolstov, Head of Business Development at Torrero, said: “The agreement entails that CT Interactive will be launched on various platforms, including betmaster.com, betmaster.ie, casinoin.ie, bongo.io, and betmaster.com.mx. These games will be accessible in markets spanning from Mexico to Estonia. Torrero.com offers customized casino and sportsbook solutions globally, providing game aggregation services and enhancing multiple brands to deliver top-notch experiences.”

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