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Largest ever US-based company to be admitted to the London Stock Exchange commences trading on AIM

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US video game publisher Devolver’s admission to trading in London is one of the largest ever floats on AIM and illustrates continued consumer and investor enthusiasm for digital gaming.

European law firm Fieldfisher has advised award-winning US video game publisher Devolver Digital, Inc. on its admission to trading to London’s AIM market, raising approximately US$261 million (£190 million) and valuing the company at a US$950 million (£694.6 million) market cap – making it one of the largest ever floats on AIM.

Shares in the company commenced trading at 8am today, Thursday 4 November.

This transaction marks the start of Devolver’s next stage of growth, providing US$50 million of gross proceeds to the company to accelerate its growth strategy and expansion plans. The transaction also included a secondary cash placing of US$211 million for management and existing investors, including strategic investor NetEase, Inc, who retain an investment in the company.

The ground-breaking transaction means Devolver will be the second-largest company (by market capitalisation) ever admitted to trading on AIM and the largest ever US-based operating company to be admitted to the London Stock Exchange across all markets. The placing has seen Devolver receive a significant strategic investment from a key industry player, as well as support from US institutional investors through the 144a placing.

Founded in 2009 and headquartered in Austin, Texas and London, UK, Devolver is an award-winning video games publisher in the indie games space.

With an emphasis on curating and publishing premium games, Devolver has a back catalogue of approximately 90 video game titles, including indie cult classics such as Fall GuysDownwell and Enter the Gungeon.

Devolver has begun to selectively acquire studios and IP that enhance its pipeline and support its long-term international growth strategy.

Since the beginning of 2020, Devolver has acquired five of its long-term partner development studios and a second publishing brand.

The company has approximately 200 team members in Europe, North America and Asia, as well as subsidiaries in the UK, Netherlands, Croatia, Poland and the US.

Devolver works with a number of leading video game providers in the PC (Steam, GOG, Humble Bundle and Epic Games), console (PlayStation and Xbox) and mobile (Apple, Google Play, NetEase Games, BiliBili and Tencent Games) markets.

The company intends to use its AIM listing as a platform to fund its international, long-term growth strategy and increase its profile and brand-awareness globally.

Commenting on Devolver’s successful admission to AIM, Ed Westhead, corporate partner at Fieldfisher said:

Devolver’s IPO is one of the standout deals on AIM this year and in the history of the junior market, which continues to provide an excellent, globally recognised platform for growing companies to attract capital and build their profile.

Having recently advised on a number of significant transactions for video games companies, we can attest to the high levels of activity in this sector and the strength of interest in digital leisure activities.

We wish Devolver the best of luck on its future as London-listed company.

Douglas Morin, Chief Executive Officer of Devolver Digital, said:

An IPO is the right choice for us to ensure our continued growth and support even more wonderful games. Most importantly it will allow us to retain our culture. 

Being a public company gives liquidity to our amazing team, all of whom are shareholders. It also gives us access to capital markets to continue investing in our growth strategy and talent.”

Brian Chadwick, Devolver’s General Counsel, said:

This is a transformational step for Devolver. As a leading US games company, coming to AIM gives us the opportunity to work with people who understand our culture, the commercial drivers in the games industry and what we are trying to achieve.

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BetVictor

BetVictor Canada launches Tracy McGrady Safer Gambling campaign

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BetVictor Canada has launched its new out-of-home advertising campaign across the streets of Toronto to promote NBA legend Tracy McGrady as its Safer Gambling Ambassador.

Two mobile digital trucks strategically targeting high-traffic areas near Scotiabank Arena, Rogers Centre, and major sporting events will provide prime audience exposure for the campaign, scheduled around Toronto Maple Leafs, Toronto Raptors, and Toronto Blue Jays home games.

To further enhance the campaign’s reach, BetVictor Canada has partnered with Clear Media Group to leverage digital taxi tops across Toronto, providing city-wide exposure with 100 taxis displaying key brand messaging. These digital taxi tops will run during peak evening hours (5:00pm – 9:00pm) on select dates until April 5th, 2025.

The campaign coincides with Problem Gambling Awareness Month, a nationwide grassroots campaign held each March that seeks to increase public awareness of problem gambling and promote prevention, treatment, and recovery services.

BetVictor Canada offers an array of tools and services to help its Canadian customers bet and play safely and responsibly, across a host of sports betting markets and online casino games.

Mark Harper, Head of Emerging Markets at BV Group, said: BetVictor is delighted to be participating in the National Council of Problem Gambling campaign in March, to help increase public awareness of problem gambling and the need to promote prevention, treatment and recovery services.

“In using our Safer Gambling Ambassador, Tracy McGrady, to raise awareness about BetVictor’s safer gambling tools such as loss limits, time alerts and product restrictions we are dedicated to ensuring all players have a safe gambling experience. #PGAM2025.”

The post BetVictor Canada launches Tracy McGrady Safer Gambling campaign appeared first on Gaming and Gambling Industry in the Americas.

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AGCO

AGCO issues $110,000 in penalties to BetMGM Canada for offering cash to induce new gambling customers

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The Alcohol and Gaming Commission of Ontario (AGCO) has served BetMGM Canada Inc. with an Order of Monetary Penalty (OMP) of $110,000 for violations of the Registrar’s Standards for Internet Gaming.

In two separate incidents in 2024, BetMGM engaged marketing companies who offered cash to members of the public in return for opening new BetMGM accounts. The marketing activities occurred in public forums, such as a major national trade conference. Under AGCO’s Standards, operators are responsible for the conduct of their third-party suppliers who are contracted to support the operator’s Ontario gaming business, and must require their third-parties to meet Ontario laws, regulations and standards (Standard 1.19).

Ontario is one of the first jurisdictions in the world to establish and enforce rules that strictly limit high-risk inducement advertising and marketing in the online gambling industry. Registered iGaming operators are prohibited from offering gambling inducements, bonuses and credits as part of their broad public advertising and marketing activities (Standard 2.05). These Standards exist to protect Ontarians from predatory advertising and promotional marketing practices in order to limit the risk of gambling-related harm.

A registered operator served with an OMP by the AGCO has the right to appeal the Registrar’s decision to the Licence Appeal Tribunal (LAT), which is an adjudicative tribunal independent of the AGCO and part of Tribunals Ontario.

QUOTE

“Responsible gambling safeguards and the protection of Ontarians on registered gaming sites is among our key priorities. The AGCO monitors the activities of all registered operators and their third-party suppliers to ensure they are meeting our high standards and we continue to take strong action to ensure they operate within the public interest.”

Dr. Karin Schnarr, Chief Executive Officer and Registrar – AGCO

ADDITIONAL INFORMATION

BetMGM Canada Inc. failed to comply with the Registrar’s Standards for Internet Gaming. Specifically, the licensee failed to comply with the following provisions of the Standards:

  • 1.19 Operators are responsible for the actions of third parties with whom they contract for the provision of any aspect of the Operator’s business related to gaming in Ontario and must require the third party to conduct themselves in so far as they carry out activities on behalf of the operator as if they were bound by the same laws, regulations, and standards.
  • 2.05 Advertising and marketing materials that communicate gambling inducements, bonuses and credits are prohibited, except on an operator’s gaming site and through direct advertising and marketing, after receiving active player consent.

Contrary to the Standards, BetMGM Canada Inc. and/or their affiliates allegedly engaged in the following activities:

a) On or about January 13 and 14, 2024, BetMGM representatives were alleged to have attended the National Franchise Show and were offering $100 in cash to new players for opening a new account and depositing $15.
b) On or about March 11, 2024, BetMGM acknowledged that its marketing affiliate “Above the Street” had engaged in prohibited inducement marketing. The conduct resulted in 377 player sign-ups and $127,180.00 in commissions to “Above the Street”.
c) On or about April 13, 2024, another BetMGM marketing affiliate “Maple Leaf Marketing” engaged in prohibited inducements and marketing to induce on-site activations and acquire new players. The conduct resulted in 94 player sign-ups and about $34,000.00 in commissions paid to “Maple Leaf Marketing”.

The post AGCO issues $110,000 in penalties to BetMGM Canada for offering cash to induce new gambling customers appeared first on Gaming and Gambling Industry in the Americas.

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BCLC

BCLC Launches “What’s played here stays here” Campaign

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BCLC’s new “What’s played here stays here” campaign is issuing an important reminder to British Columbians who choose to gamble – specifically that all net profit its operations generate stays in B.C. to help fund critical services like education, health care and community programs.

The campaign also reinforces that all other gambling websites operating in B.C. are illegal and take away funds from critical community programs and services.

“Across B.C. and Canada, we’ve seen incredible groundswell around the importance of buying and supporting local, and that’s no different for British Columbians who choose gambling for their entertainment. We want our B.C. players to know they can find a world-class gambling experience in their own backyard, whether it’s at one of our 33 casinos, 3,400 lottery retailers, or online at PlayNow.com, and that the proceeds from their play with BCLC make a positive impact at home in their community,” Pat Davis, President and CEO of BCLC, said.

Along with illegal online gambling websites, BCLC also competes with Washington State and Las Vegas casinos, all of which aggressively market to B.C. residents.

“BCLC continues to raise awareness that these gambling options do not support B.C.’s economy and take away funds from vital provincial and community-based programs and services. In a time when British Columbians are standing united, we want to reinforce that playing together with BCLC helps make B.C. even better,” Pat Davis added.

The post BCLC Launches “What’s played here stays here” Campaign appeared first on Gaming and Gambling Industry in the Americas.

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