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Esports Entertainment Group Announces Sale of the Bethard Business and Amendment to Senior Convertible Note

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Esports Entertainment Group announced that it has entered into a share purchase agreement (Purchase Agreement) dated February 14, 2023 to sell its Bethard iGaming business, an operator of online casino and sportsbook brands that is licensed in Malta and Sweden.

The total purchase consideration in the Purchase Agreement was determined by the parties to be approximately €9.5 million comprising €1.65 million of cash proceeds payable to the Company at closing, with an additional €6.5 million of purchase consideration attributed to the Company’s release from payment of its contingent consideration liability from the Bethard acquisition. The purchaser of the Bethard business will also assume liabilities of approximately €1.2 million. The terms of sale allow for a cash holdback of €0.15 million which may be retained by the purchaser should liabilities exceed agreed upon amounts in the Purchase Agreement. The sale of the Bethard business is expected to close during the two-week period following the signing of the Purchase Agreement, subject to customary closing conditions.

The Company entered into an Amendment and Waiver Agreement on February 16, 2023 as a condition to the closing of the sale of the Bethard business. The Amendment requires the Company to deposit 50% of the proceeds from the sale of the Bethard business in a bank account in favor of the holder (the Debt Holder) of its Senior Convertible Note, dated February 22, 2022. The Amendment also requires the Company to deposit 50% of the proceeds of any permitted future sale of assets or any subsequent debt or equity offer or sale (a Securities Transaction) and 100% of the proceeds of any additional indebtedness incurred in the future, into such bank account in favor of the Debt Holder, or, at the option of the Debt Holder, redeem amounts under the Senior Convertible Note using such proceeds.

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Alex Igelman, CEO of Esports Entertainment Group, said: “I am very pleased at the work that is being undertaken to reduce debt and focus on our core iGaming and esports assets. We remain committed to building a world-class esports gambling operation that is global in reach and that provides esports content and strategic services to those involved in esports gambling, as well as those seeking to enter the market. I am extremely encouraged and pleased with the speed and efficiency in which senior management effectuated these important actions.”

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EvenBet Gaming to Showcase Pioneering Poker Products at SBC Summit 2024

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EvenBet Gaming, a leading developer of online gaming software and solutions, is set to unveil its latest industry-leading poker platform update and exhibit its brand-new In-Store feature at the upcoming SBC Summit in Lisbon.

Launched at the beginning of September, the In-Store platform feature provides players with unprecedented access to perks directly from the lobby or poker table. Available benefits include Time Bank packages, Insurance Buying and Opponent Game Statistics, with each perk designed to enhance the player experience and drive revenue for EvenBet’s partners.

The EvenBet team will be located at Stand B820 and will outline the key aspects of the In-Store feature, as well as demonstrate the advantages of third-party casino game integration, revealing how operators can diversify their revenue streams.

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The provider is also set to announce a major update to its Poker Clubs platform in October, which will improve software flexibility and player engagement options.

EvenBet will kick off the summit by hosting an exclusive poker tournament on Tuesday 24 September, an invite-only event featuring C-suite executives from across the industry.

Dmitry Starostenkov, CEO at EvenBet Gaming, said: “The SBC Summit is one of the biggest events on the calendar for us, and this year it will be even better. We are heading to Lisbon with an even better team, and they are ready to explore an even better poker platform with our valued partners and prospective clients.

“We are also hosting a C-level poker tournament on the first day, which should be a lot of fun and give us an indication of who the best players are in our industry.”

The post EvenBet Gaming to Showcase Pioneering Poker Products at SBC Summit 2024 appeared first on European Gaming Industry News.

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BetConstruct Unveils Last Battle: A Revolutionary Loyalty System for iGaming

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In yet another innovative move, BetConstruct has announced a brand new loyalty system that is set to transform player engagement and retention strategies for the company’s partners and iGaming platforms worldwide.

Named the “Last Battle” this system allows partners to tailor every aspect from loyalty cards to reward structures, creating a unique and immersive experience for their players.

How the Last Battle Works
At its core, Last Battle gamifies the player experience, allowing them to earn XPs (points) for completing actions such as account verification and wagering. The more XPs a player collects, the more levels and loyalty reward cards they unlock. Partners can customise each loyalty card and its exclusive rewards to suit different player segments.

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Two Editions to Choose From
Last Battle comes in two distinct editions, catering to both entry-level and advanced partners:

Model 1: Ready-to-Go
This edition offers a predefined loyalty tree with a fixed cost per player, making it ideal for partners looking for a simple solution. They can instantly integrate Last Battle into their platform, knowing exactly how much they are investing in player loyalty while enjoying effortless system management.

Model 2: Hero Edition
More suitable for established partners, the hero edition integrates directly with their CRMs, allowing full control over the loyalty system. They can also assign specific rewards to different player groups, enabling players to trade, gift, or sell their loyalty cards, and tailor every aspect of the engagement process.

Additional Features
• Boost Player Engagement: Players stay motivated with tiered levels and tailored rewards, driving them to return and play more.
• Maximise Retention: Dynamic loyalty cards keep users engaged, increasing their loyalty over time.
• Fully Customisable: Partners have complete control over loyalty cards, reward structures, and messaging, making it easy to create a system that aligns with their brand.
• Easy Integration: Model 1 provides a quick and seamless setup for operators looking for instant solutions.
• Advanced CRM Capabilities: Model 2 offers sophisticated loyalty management, allowing operators to create truly personalised experiences for their players.
• Player Marketplace: Players can trade, gift, or sell their loyalty cards within the platform, adding another layer of engagement.

With comprehensive features and a fully customisable nature, BetConstruct’s Last Battle is shaping up to be yet another game-changer offering from the company. More details and updates about the Last Battle are yet to be revealed, and it is currently live on BetConstruct’s platform.

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TaDa Gaming Gets Pulses Racing in Dynamic New Release Speed Baccarat

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TaDa Gaming, a leading provider of immersive casino entertainment content, is delighting baccarat fans and novices alike with Speed Baccarat, the latest addition to its portfolio of classic table games with a twist.

With just three outcomes – Player Wins, Banker Wins or a Tie – Speed Baccarat is a thrilling and intriguing game of chance but with added Multipliers to get players’ hearts pumping.

As in standard baccarat, players try to predict whose hand – Player or Banker – will win by having the value closest to 9 and, as always, TaDa Gaming has put its signature innovation on its version of 007’s favourite card game.

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Not only eight decks of cards excluding jokers, but the fastest gameplay per round keeps the excitement levels at maximum.

Speed Baccarat lives up to its name by upping the pace from traditional and other quick play baccarat slots, with players enjoying a suspense-filled 23 seconds per hand including the 10 second countdown before the bets are locked. No other speed baccarat slot plays out this fast and yet there is still more to come.

Click the lightning strike EX symbol on the screen to start the Lightning Bet Option. This requires an extra 50% of the wager value for an additional 1-5 cards to be drawn and a random Multiplier applied to each card, significantly raising the excitement levels.

Plus, in the Lightning Bet round, if any of the extra cards awarded a multiplier is then dealt in that hand, the card lights up for instant recognition and an extra Multiplier on the Lightning Bet’s cards is awarded. All additional multipliers will be added together when plural multipliers are triggered in the round being played.

Sean Liu, Head of Product Management at TaDa Gaming, said: “Delivering dynamic play is the driving process behind our Speed Baccarat release. We want all players to appreciate this traditional High Roller slot but with ramped up timing to make it ‘edge of your seat’ gaming that appeals across the board.”

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The post TaDa Gaming Gets Pulses Racing in Dynamic New Release Speed Baccarat appeared first on European Gaming Industry News.

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