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Enlabs Makes a Mandatory Public Offer to the Shareholders of Global Gaming

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Enlabs announced on August 26, 2020, that Enlabs had acquired 9,878,086 shares in Global Gaming 555 AB on the same day, for a purchase price corresponding to SEK 11 per share (where 50 percent of the purchase price was paid in cash and 50 percent was paid through newly issued shares in Enlabs), and thus increased Enlabs’ ownership from 29.89 percent to 54.06 percent of all shares and votes in Global Gaming, which meant that Enlabs was required to make a mandatory public offer for the remaining shares in Global Gaming in accordance with the Takeover rules for certain trading platforms (the “Takeover rules”). Since the announcement, Enlabs has acquired additional shares in Global Gaming in the market and Enlabs’ ownership at the time of publication of this press release amounts to 66.70 percent of all shares and votes in Global Gaming.

Considering the above, Enlabs hereby makes a mandatory public offer to the shareholders of Global Gaming to transfer all their shares in Global Gaming to Enlabs (the “Offer”). The consideration of the Offer consists of three alternatives: (a) a cash consideration, (b) a share consideration in the form of shares in Enlabs, or (c) a combination corresponding to 50 percent as cash consideration and 50 percent as share consideration. All consideration alternatives correspond to SEK 11 per Global Gaming share. Enlabs will not increase the offered consideration.

The shares in both Enlabs and Global Gaming are listed on the Nasdaq First North Growth Market (“First North”).

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The Offer in brief

At the time of the Offer, Enlabs owns 27,266,114 shares in Global Gaming, corresponding to 66.70 percent of all outstanding shares and votes in Global Gaming.
The Offer values all shares in Global Gaming at approximately SEK 450 million.
Enlabs offers the shareholders in Global Gaming as consideration, for each share in Global Gaming, either:
a cash consideration of SEK 11 (the “Cash Consideration”),
0.36 shares in Enlabs (the “Share Consideration”), or
a combination corresponding to 50 percent as Cash Consideration and 50 percent as Share Consideration.
Enlabs will not increase the offered consideration.

The Offer entails a premium of approximately 15 percent in relation to the closing price on First North for the Global Gaming share on August 26, 2020 (which was the last trading day before Enlabs announced its intention to submit a public bid offer to the shareholders in Global Gaming) and a premium of approximately 1 percent in relation to the closing price on First North for the Global Gaming share on September 21, 2020 (which was the last trading day before the announcement of the Offer). Furthermore, the Offer entails a premium of approximately 4 percent in relation to the volume-weighted average share price for the Global Gaming share during the last thirty (30) trading days, and a premium of approximately 13 percent based on the volume-weighted average share price for the Global Gaming share during the last ninety (90) trading days, up to and including September 21, 2020.
The board of directors of Global Gaming, or an assembled independent bidding committee of Global Gaming, shall publish its opinion on the Offer and the reasons for this opinion no later than two weeks before the expiry of the acceptance period. Furthermore, Global Gaming must obtain and, no later than two weeks before the end of the acceptance period, publish a fairness opinion regarding the Offer from independent expertise. At the time of publication of this press release, neither such statement nor a fairness opinion have been published.
Enlabs’ completion of the Offer is only conditional on the acquisition being approved, if applicable, by the relevant competition authorities.

Enlabs will publish an offer document regarding the Offer, which is expected to take place around October 2, 2020. The acceptance period for the Offer is expected to begin around October 5, 2020 and end around November 2, 2020.

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Xpoint Launches Groundbreaking New Product to Reduce Geolocation Costs for Operators

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Trust Mode feature reduces unnecessary location checks by over 20%

Xpoint, a leader in geolocation security solutions, has unveiled its proprietary Trust Mode feature, a patent-pending product that allows online gaming operators to realize previously unattainable efficiencies while remaining compliant with all state regulations and enhancing player satisfaction.

Trust Mode is a product feature that decreases geolocation checks while complying with state-mandated check frequencies by minimizing location checks when a player is connected to a residential or office WiFi, even if they are near the border. Results have shown that Trust Mode reduces geolocation service checks by over 20%, allowing Xpoint customers to realize significant cost savings compared to legacy industry technologies.

“Trust Mode is a clear example of how competition fosters innovation,” the Chief Executive Officer for Xpoint, Manu Gambhir, said. “There is no need to frequently re-check the location of a bettor connected to Wi-Fi at their home despite being located near a state border.

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“As well as benefiting operators, end users also benefit from Trust Mode as their battery usage will decrease due to the operator’s ability to reduce the number of location checks for players without accuracy being sacrificed. This technology will serve as a game-changer for operators looking to get the most out of their geolocation service provider.”

Xpoint is licensed and authorized in 20 states and the District of Columbia across its current customer portfolio including names such as Bet365 and PrizePicks. Trust Mode delivers efficiencies to an industry that has remained largely static due to previously low levels of competition. Trust Mode saves iGaming operators money while enhancing user experience. Roll-out for the service is expected later this year.

The company’s flagship geolocation platform for iGaming, Xpoint Verify, is an advanced toolset for geo-compliance. The service is focused on being the most accurate, allowing players in permitted locations and denying all others including those attempting to spoof their location. Xpoint Verify detects and prevents fraud while providing valuable marketing insights to operator customers.

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ITL Spain head to Madrid for the largest gaming exhibition in the Spanish calendar

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Innovative Technology (ITL) have announced their participation at the largest global network of gaming professionals in Spain. From 7-9 May 2024, Madrid will become the centre of the Spanish gaming industry, celebrating the 40th anniversary of Feria Internacional del Juego (FIJMA).

FIJMA is the most important event in the leisure and gaming industry in Spain where the main companies, manufacturers and experts in the industry gather to learn about the latest slots and gaming equipment innovations. The Spanish team at ITL will be exhibiting their solutions on stand A49 and plan to have their latest note recyclers and coin handling products centre stage, as well as demonstrating how their biometrics solutions can be utilised to benefit the gaming industry to prevent underage gambling.

Jose Garcia Escudero, General Manager for ITL Spain said, “We are looking forward to showing how combining our compact note recycler (NV22 Spectral) and advanced coin recycler (SMART Coin System) gives the best fit for cash handling efficiency for gaming machines in Spain. These solutions now dominate the Spanish gaming market giving operators considerable float management savings, fewer refills, and a massive reduction in coin starvation for improved machine uptime. We’ll also show the new NV4000 mixed denomination note recycler to the Spanish gaming market for the first time, ideal for high volume applications like change and redemption terminals.”

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ITL have a range of AI-powered biometric solutions which perform accurate age verification at gaming venue entrances or integrated in gaming machines.

Continuing Jose said, “We will also have our age check devices on the stand for visitors to demo which can help operators prevent someone potentially underage or even self-excluded trying to play a machine or access an age restricted area. ICU Lite can be fully integrated in a gaming machine or betting terminal to automatically estimate age to prevent minors from playing. MyCheckr can be utilised at 18+ entrances to prevent access. Both devices have a one-off cost with no subscriptions and no internet required. Our technology is affordable, available to all and trusted, with no biometric personal data stored.”

Concluding Jose said, “We have very strong relationships with the Spanish market and we’re proud to know that our products will be displayed on a number of stands from our long standing customers. We’re looking forward to seeing everyone in person in Madrid and we welcome you all to stand A49.”

The post ITL Spain head to Madrid for the largest gaming exhibition in the Spanish calendar appeared first on European Gaming Industry News.

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SBC Summit North America: Stages, Sessions, and Speakers Highlights

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The 2024 SBC Summit North America is set to bring a diverse array of stages, sessions, and esteemed speakers, in an event that promises to deliver numerous opportunities for learning, networking, and collaboration. Let’s delve into the highlights from each day of this groundbreaking summit:

Day 1: The Prelude to Insight

As the curtains rise on the inaugural day of the summit, attendees are greeted with a plethora of engaging sessions spanning regulatory compliance, responsible gambling initiatives, and the latest technological innovations. The stage is set for dynamic discussions and thought-provoking insights as industry leaders converge to explore the intersection of regulation and commercial growth.

Day 2: Navigating the Regulatory Maze

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Against the backdrop of New York’s iconic Tribeca 360, day two of the summit takes center stage with a focus on regulatory compliance and responsible gaming practices. Attendees can anticipate deep dives into the complexities of mergers and acquisitions, the role of AI and big data in betting, and the imperative of responsible gambling technology. With expert speakers offering guidance and expertise, participants are empowered to navigate the regulatory maze with confidence and clarity.

Day 3: Charting the Course for Growth

As the summit enters its penultimate day, the spotlight shines on strategies for sustainable growth and innovation in the gaming industry. From exploring the symbiotic relationship between responsible gambling initiatives and long-term profitability to harnessing the power of emerging technologies, attendees are treated to a wealth of insights designed to drive commercial success while upholding the highest standards of integrity and compliance.

Day 4: The Grand Finale

As the final day dawns, anticipation mounts for the grand finale of the SBC Summit North America. Attendees can look forward to a culmination of key insights, actionable strategies, and memorable moments as the industry’s brightest minds come together for one last day of inspiration and collaboration. From live editions of the Safe Bet Show to dedicated conference tracks covering sports betting, iGaming, and leadership, the summit concludes on a high note, leaving attendees energized and empowered to chart the course for the future of gaming.

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In summary, the SBC Summit North America emerges as a transformative event, offering a platform for dialogue, innovation, and progress in the gaming industry. With stages brimming with thought-provoking sessions and speakers at the forefront of their fields, the summit sets the stage for a future defined by compliance, responsibility, and sustainable growth.

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