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Waterhouse VC celebrates continued high returns; looks to Brazil and betting syndicates for future growth

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Tom Waterhouse, Chief Investment Officer of Waterhouse VC, the specialist investment fund for the global betting and gaming sector, heads to the U.S. again to look for new opportunities at G2E off the back of revealing another successful summer of investments.

The fund recently converted an option in cutting-edge crypto betting technology company Saintly. In February 2023, Waterhouse VC signed a three-year option to buy 20% of the top-tier platform, an option that was bought out in August for 2,180% above the option conversion price. This meant an extraordinary 23x return on the position within six months.

“I feel like we have a very good understanding of the products going into the online betting world and what will work” Tom Waterhouse, whose family has been involved in the betting industry for more than 100 years.

Since its inception in August 2019, Waterhouse VC has achieved a gross total return of 2,422% as of 30 September 2023, assuming the reinvestment of all distributions. To maintain rigorous standards, the fund’s team scours the gaming sector for disruptors and niche-leading businesses worldwide.

Over the past few months, Brazil has been a particular area of interest. Another one of the current opportunities that Waterhouse VC is participating in is Betscanner. Much like an Oddschecker for crypto betting, Betscanner will compare odds for sporting events offered by crypto operators and is leveraged to benefit from the growth of both crypto betting and the Brazilian market.

Another investment that the fund is excited about is an emerging professional betting syndicate run by Tom Dry. After working for Tony Bloom, the world-renowned football betting pro and owner of English Premier League powerhouse Brighton FC, Dry developed his own tennis betting strategy. Waterhouse VC saw that the syndicate’s operational metrics were very impressive and the fund took the view that Dry had the ability to further scale the team, increase liquidity in tennis and also expand into other sports.

Waterhouse VC will continue to analyse the betting and gaming sector for further opportunities, with G2E being just the next step in this process.

Compliance Updates

Pace-O-Matic Wins Landmark Texas Court Case: A Victory for Small Business Owners and Community Organizations

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Pace-O-Matic, the industry leader in skill-based games, today announced a significant legal victory in Texas, affirming the legality of its skill-based games. This ruling, issued Tuesday evening by State District Judge Laurine Blake, emphasized that such games are not considered gambling under Texas law. The ruling represents a triumph for small business owners, bar owners, and fraternal organizations who rely on these games to attract customers and support their businesses.

Michael Barley, Chief Public Affairs Officer at Pace-O-Matic, stated, “This ruling is a monumental victory for the small businesses and community organizations that have been able to thrive thanks to skill-based gaming. Our commitment to providing legal, enjoyable, and skill-based gaming options has once again been validated by the courts.”

This legal win underscores Pace-O-Matic’s dedication to fostering a responsible gaming environment while supporting local economies and community groups.

For more information visit Pace-O-Matic

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Compliance Updates

NJDGE Closes its Investigation of Evolution AB with No Further Action

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Evolution AB has been informed by the New Jersey Division of Gaming Enforcement (NJDGE) that it has conducted an investigation into allegations of misconduct by Evolution AB and that its investigation has been closed with no further action taken.

In November 2021 the NJDGE received a report prepared by an unidentified firm alleging misconduct by Evolution AB. Following receipt of the report, the NJDGE commenced a thorough investigation into the allegations to determine their validity.

The NJDGE found no evidence that Evolution sanctioned, promoted, permitted, or otherwise materially benefitted from its content offered by operators in any market that the NJDGE considers a prohibited jurisdiction.

Evolution also conducted an internal review, while concluding that its due diligence and compliance processes were sufficient, Evolution took the opportunity to enhance its processes. The NJDGE supports the enhancements that Evolution has made. The enhancements did not relate to any jurisdictional violations.

The NJDGE’s investigation into this matter is closed requiring no further action.

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eSports

Gen.G and University of Kentucky Bring Back Award Winning Conference “Campus Takeover” Designed to Drive the Future of Collegiate Esports

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Global esports and gaming organization Gen.G and the University of Kentucky (UK) are bringing back their award winning collegiate esports industry conference, Campus Takeover, on March 30 and April 6. This two-day event will bring together esports professionals with students and administrators from different universities. UK continues to pave the way as an esports ecosystem leader in the SEC and Midwest region.

Campus Takeover Day 1 is a student-focused event leading up to the professional conference, and will be live-streamed at twitch.tv/universityofky on March 30 starting at 4:30 PM EST. Campus Takeover Day 2, the flagship professional conference, will be hosted at the Don & Cathy Jacobs Science Building on the University of Kentucky campus on April 6, starting at 10:00 AM EST.

“Since we started this event, we had a responsibility to uphold what future students expect of the University of Kentucky when it comes to their budding esports careers. There’s a lot expected about the future of gaming and esports, and we want to make sure our students are well equipped to be that expected change for years to come,” Heath Price, Associate Chief Information Officer at University of Kentucky, said.

Additionally, many esports professionals hailing from different segments of esports business will participate in various panels during Campus Takeover. The panels and discussions will cover a bevy of topics, including how to maximize your time when looking for new jobs, a conversation around esports, influencers, business, and video games, a look at intersectionality in games, and much more. Other clubs and programs will also be welcome to have tables within the Atrium during Campus Takeover, so even newer students get to see everything UK has to offer.

“University of Kentucky has been our long term collegiate partner; their investment in this community allows us to have a small hand in making sure the future of gaming and esports is secure. We all want to see this industry thrive, and we hope Campus Takeover is a stepping stone for other schools to form their own ways to develop the collegiate esports ecosystem,” Martin Kim, Chief Revenue Officer at Gen.G, said.

Campus Takeover was recognized at the 2023 Esports & Gaming Business Summit Tempest Awards, where it won the award for the Collegiate Esports Program of the Year.

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