Industry News
Golden Matrix and MeridianBet Sign Amended and Restated Purchase Agreement
Golden Matrix Group Inc. and MeridianBet Group announced that they have entered into an Amended and Restated Purchase Agreement to extend the required closing date and to modify additional terms of the previously announced definitive agreement pursuant to which GMGI has agreed to acquire the MeridianBet Group and its related companies.
Under the terms of the revised agreement, among other changes to the consideration payable by GMGI to the sellers, the cash required to be paid by GMGI at the closing of the transaction has been reduced from $50 million to $30 million (with $20 million in non-contingent cash consideration due post-closing). GMGI is currently working to obtain the financing required to complete the transaction and plans to file the required proxy statement to seek shareholder approval for the acquisition, among other items, in the third quarter of 2023. The acquisition is expected to close in the third or fourth quarter of 2023, subject to various conditions to closing, including GMGI raising required funding, GMGI shareholder approval, and other items.
Anthony Brian Goodman, CEO of GMGI, said: “In consideration of the reduced cash amount required to be paid at the closing of the transaction, the revised cash and stock transaction now has a value of approximately $331 million, with the stock consideration priced at $3 per share – currently an approximate 38% premium to GMGI’s 30-day VWAP closing price (with 82,141,857 shares of common stock due at the initial closing). MeridianBet has increased its year-to-date revenues considerably against last year’s revenues and the proforma performance of the combined company following the acquisition is now projected to be approximately $31 million in Adjusted EBITDA for the October 31, 2023 year, and approximately $139 million in revenues, based on MeridianBet’s year to date financial statements and financial projections. MeridianBet’s impressive performance thus far in 2023 gives us even greater confidence in the value of this acquisition, which is expected to bring significant benefits to GMGI from both a financial and operational standpoint, and our management team is confident it will drive long-term value for all our stakeholders.”
SUZOHAPP has announced the appointment of Geoff McDowell as its new President, effective October 1, 2024.
McDowell previously worked at SUZOHAPP from 2010 to 2017, successfully leading the gaming business in Australia and Asia. He rejoins the company from Coinflip, a global digital currency platform, where he was SVP/GM of US Kiosks. Prior to that, he held the position of CEO of Atlas Gaming Pty Ltd, an Australian developer of proprietary gaming content and products.
“We are thrilled to welcome Geoff back to our global leadership team to lead one of our core divisions. His proven track record in growth and strategy execution will be invaluable as we continue to serve our customers and achieve strong results. We also extend our gratitude to Sim Bielak for his years of dedicated service and leadership at SUZOHAPP,” said Drew Scielzo, ACON Partner.
Geoff McDowell is excited about his return and the opportunity to drive SUZOHAPP’s success. “SUZOHAPP is an exciting company with tremendous growth potential and a strong team. I look forward to embracing this new challenge in an industry I am passionate about,” he said.
The post SUZOHAPP Appoints Geoff McDowell as New President appeared first on European Gaming Industry News.
Amusnet has released Showtime Roulette 500x, where entertainment meets innovation. This fast-paced European roulette reinvents the classics, featuring a host who presents, entertains and spins the wheel for a seamless, engaging experience. With every spin, a random multiplier can increase the payouts by 50x, 100x, 150x, 200x, 250x and 500x for a thrilling experience. Showtime Roulette 500x offers a fantastic gaming experience that is sure to entertain and captivate players.
What truly sets this game apart is its groundbreaking customisation capabilities. Leveraging advanced chroma technology, operators can transform the game environment to reflect their unique brand identity. The possibilities are endless, from integrating their logos to designing bespoke background themes. This level of personalisation enhances brand visibility and delivers a tailored, immersive gaming experience that resonates with players, making every session feel distinctively crafted.
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The post Amusnet Releases Showtime Roulette 500x appeared first on European Gaming Industry News.
Industry News
GROUPE PARTOUCHE: Acquisition of a Building at the Foot of the Arc De Triomphe to House its Parisian Gaming Club and its Head Office
Groupe Partouche has acquired a building, strategically located at Place de l’Etoile in Paris, at 10 avenue de la Grande Armée.
With a surface area of over 8000 m² spread over seven levels, this building will undergo development work to accommodate its Parisian gaming club currently located on rue de Berri.
This building will also house the headquarters of Groupe Partouche.
The post GROUPE PARTOUCHE: Acquisition of a Building at the Foot of the Arc De Triomphe to House its Parisian Gaming Club and its Head Office appeared first on European Gaming Industry News.
SCCG Partners with Osage Nation Gaming Enterprise to Enhance Interactive Gaming Operations with Managed Services
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