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Kings Entertainment Receives CSE Conditional Approval to Proceed with Acquisition of Parent of Bet99 Sportsbook and Casino Operator, Calls Shareholder Meeting to Approve the Acquisition and Refiles its Q2 2022 Interim Financial Statements

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Kings Entertainment Group Inc. (“Kings Entertainment” or the “Company”) (CSE:JKPT, OTC: JKPTF) announces that it has received conditional approval of the Canadian Securities Exchange (the “CSE”) in connection with its previously announced proposed business combination (the “Business Combination”) with Sports Venture Holdings Inc. (“SVH”), the parent company of the market-leading Bet99 brand. Kings Entertainment also announces that it has called a meeting of its shareholders to be held on October 25, 2022 (the “Meeting”) for the purposes of seeking, among other things, shareholder approval of the Business Combination in accordance with the polices of the CSE.

“We remain excited to proceed with the previously announced business combination with Bet99 to create Interactive Entertainment Group. Our goal has always been to grow our business organically and through the acquisition of complementary businesses. We believe the acquisition of SVH is fully aligned with our business objectives and serves to further bolster our position as a market leader and innovator.” said Steve Budin, CEO of Kings Entertainment. “Receipt of the CSE conditional approval is an important step forward in the completion of the business combination. We now look forward to holding our shareholder meeting on October 25, 2022 so that we hear from our shareholders and share our excitement about our future with Bet99. We hope to close this transformational transaction shortly following our shareholder meeting.” In connection with the Meeting, Kings Entertainment has prepared, filed and mailed to shareholders, a management information circular dated September 24, 2022, (the “Circular”). The record date set for notice of, and voting at, the Meeting has been set as September 16, 2022. The Circular, which attaches to it a draft of listing statement (the “Listing Statement”) prepared in accordance with the policies of the CSE, includes further details concerning the Business Combination, SVH and the issuer resulting from the Business Combination (the “Resulting Issuer”). Shareholders are encouraged to review the Circular in its entirety. The board of directors of the Company have unanimously approved the Business Combination and recommend shareholders vote at the Meeting FOR the Business Combination.

It is anticipated the Company will change its name such that the Resulting Issuer will operate under the name “Interactive Entertainment Group Inc.”. In addition, it is expected that SVH will complete a brokered financing in advance of closing the Business Combination to support the financial position of the combined company for the ensuing year. The Company will announce details concerning any such financing in due course.

The Interim Consolidated Financial Statements of the Company for the Three and Six months ended June 30, 2022 and 2021 (the “Interim Statements”) and corresponding management’s discussion and analysis (the “MD&A”) are required to be attached to the Listing Statement. The Interim Statements and MD&A, as filed by the Company on August 26, 2022, were not required to be, and were not, reviewed by the Company’s auditors however the Interim Statements are required to be reviewed when attached to the final Listing Statement. As a result of management’s and the auditor’s review of the Interim Statements during the course of preparing the Listing Statement, certain errors were discovered and therefore the Interim Statements and the MD&A, as attached to the draft Listing Statement, have been amended and such amended Interim Statements and amended MD&A have been filed under the Company’s profile on www. sedar .com.

The amendments pertain to adjustments to rectify errors related to: (i) certain noncash items being incorrectly included in net cash flows used in operating activities with an offsetting misstatement in effect of foreign exchange in cash, (ii) the calculation of deferred income tax expense with an offsetting misstatement in foreign currency translation differences and (iii) the foreign exchange translation reserve with offsetting misstatement in deficit. These corrections did not have an impact on the net change in cash; however, resulted in understatement of shareholders’ equity.  The Company does not believe these amendments are material.

Canada

Wazdan enters its next Canadian province with Loto‑Québec integration

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Wazdan enters its next Canadian province with Loto‑Québec integration

 

Wazdan, the inventive developer of thrilling casino games, has introduced its portfolio to Loto-Québec through Light & Wonder’s aggregation platform, marking its premiere in the Canadian province.

This achievement underscores the provider’s dedication to the North American market, highlighting its ongoing expansion efforts in the region.

Players in Québec can now access Wazdan’s top-performing titles on the crown corporation’s online gaming platform, lotoquebec.com. Among these are beloved games like 9 Coins™ Grand Gold Edition, 9 Coins™ 1000 Edition, Hot Slot™: 777 Crown, Magic Spins™, and Hot Slot™: Mystery Jackpot Joker.

Through this integration, Wazdan brings its engagement-boosting features such as Hold the Jackpot™, Cash Infinity™, Collect to Infinity™, and customisable Volatility Levels™ to an even broader audience in Québec.

Andrzej Hyla, Chief Commercial Officer at Wazdan said: “With our sights firmly set on North American expansion, our market entry in Québec is a momentous occasion for Wazdan as we continue to bring innovative experiences to more players than ever before.

“Wazdan and Loto-Québec have a shared vision for delivering fresh content that puts users at the heart and we have no doubt our games will be received with tremendous success by their players.”

François Hardy, Product and Innovation Director at Loto‑Québec added: “As the sole iGaming operator in Québec, we pride ourselves on offering titles that truly add value to our platform. We are happy to bring Wazdan’s games to our players.”

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BMM Testlabs Promotes Jean Corriveau to Senior Vice President of Global Quality Assurance and BMM Canada Regional Executive

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Longtime BMM QA leader named to oversee Companyߣs largest testlab.

BMM Testlabs (BMM or the Company), the world’s original gaming test lab renowned for exceptional product compliance and certification services, today announced the promotion of Jean Corriveau to Senior Vice President of Global Quality Assurance and BMM Canada Regional Executive.

In this expanded role, Corriveau will oversee the Companyߣs global product quality assurance efforts, ensuring high standards of excellence across all BMM operations. Additionally, as the BMM Canada Regional Executive, Corriveau will spearhead BMMߣs global product QA strategic initiatives to drive growth, innovation, and excellence.

Corriveau’s 23-year trajectory in the gaming industry underscores his expertise and adaptability. His journey began as a software developer, from which he quickly advanced to Business Development Manager at BMM. He continued his upward trajectory when he became the Vice President of Quality Operations for BMM’s largest global lab based in Moncton, New Brunswick, Canada.

BMM Innovation Group Chief Operations Officer Kara Matthew said, “With Jean at the helm, BMM Moncton transformed into a premier global QA center of excellence, showcasing his skill in driving growth and innovation. Weߣre thrilled to see Jean continue to advance and take ownership of our global QA services.”

Corriveau said, “I am excited to step into the role of Senior Vice President of Global QA and BMM Canada Regional Executive at BMM, especially with the opportunity to lead such an outstanding team. I am focused on surpassing client expectations through our quality, velocity, reliability, innovation, and customer-centricity.”

 

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Ellipse Entertainment Enters Geolocation Partnership with GeoLocs

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mkodo Limited (mkodo) is proud to announce that it has partnered with United Kingdom-based casino operator Ellipse Entertainment. Ellipse Entertainment has chosen mkodo’s advanced geolocation verification service, GeoLocs, to enhance its iGaming operations in Ontario, Canada.

Ellipse Entertainment has seamlessly integrated GeoLocs’ specialised iGaming geolocation platform into its High Flyer Casino brand. This integration will provide a safe, secure and fraud-free environment for its players across Ontario that meets and exceeds the Alcohol and Gaming Commission of Ontario’s (AGCO) regulations and requirements.

GeoLocs is a leading geolocation verification service, one of the largest in the Ontario region, specialising in North America’s regulated sports betting and iGaming markets. The platform was built specifically to support iGaming operators, ensuring they are operating in licenced jurisdictions and guaranteeing that they are providing responsible gaming to their customers.

Through this partnership, GeoLocs will bring its cutting-edge solution to Ellipse Entertainment’s High Flyer Casino brand, addressing unique challenges faced by iGaming operators through a swift and smooth integration process. Ellipse Entertainment will benefit from GeoLocs’ support in enhancing compliance strategies, optimising revenue opportunities and meeting regulatory standards. Additionally, users will experience a seamless journey, eliminating the need for additional downloads or companion apps.

“We’re thrilled to collaborate with Ellipse Entertainment in Ontario introducing GeoLocs to enhance its iGaming operations,” the Managing Director for mkodo, Stuart Godfree, said. “Our partnership supports Ellipse Entertainment’s High Flyer Casino brand, ensuring a secure and seamless geolocation verification experience for players across Ontario.”

“GeoLocs has been the ideal solution for our geolocation verification needs in Ontario,” the Director for Ellipse Entertainment, Andy McDowall, said. “The platform’s advanced technology and expertise, tailored for iGaming operators, align perfectly with our commitment to responsible gaming. Teaming up with mkodo and its GeoLocs service allows Ellipse Entertainment to provide High Flyer Casino players with a compliant and enjoyable online gaming experience.”

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