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Intema receives TSXV conditional approval to proceed with acquisition of Livestream Gaming

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Intema Solutions Inc. is pleased to announce that it has received conditional approval (the “Conditional Approval“) from the TSX Venture Exchange for the acquisition (the “Proposed Transaction“) of all of the issued and outstanding securities in the capital of Livestream Gaming Ltd. (“Livestream“). More information about the Proposed Transaction is included in the press release dated May 3, 2021.

“Today marks an important milestone for Intema,” said Laurent Benezra, Intema’s President and Chief Executive Officer. “We understood when we entered into the agreement with Livestream and took the deliberate decision to complete this transaction as a TSXV Issuer that we would need to invest the time and resources to meet their enhanced requirements and fully commit to the process. We have aggressively advanced the Proposed Transaction since, thanks to the attentiveness and solutions-oriented approach of the TSXV, to secure conditional approval of our Proposed Transaction.”

Having received the Conditional Approval, Intema anticipates its common shares will resume trading in the near future.

The completion of the Proposed Transaction remains subject to final approval by the TSXV and fulfillment of TSXV requirements, including among other things: (i) obtaining a gaming license pursuant to the Online Gambling Regulation Act 2001 of the Isle of Man prior to the closing of the acquisition of Livestream, and (ii) filing on SEDAR of a filing statement (the “Filing Statement“), which will include the audited financial statements of Livestream for the year ended December 31, 2020 and the interim unaudited financial statements as at September 30, 2021 with comparatives and pro forma financial statements. Readers are strongly encouraged to review the Filing Statement for full details on the Proposed Transaction.

In connection with the Proposed Transaction, the Corporation intends to change its name to “React Gaming Group Inc.” The name change will be effective at the closing of the Proposed Transaction and is subject to shareholder approval.

Mr. Benezra added, “Alongside the Proposed Transaction, we have been hard at work mapping out our migration under the Isle of Man gaming regime and expansion in new markets to position as a contender in the fast-growing esports gaming space and beyond. Having closed a $10 million non-brokered private placement and working towards a third and final tranche closing, we will be well funded for our near-term plans regarding the LOOT.BET platform as well as other initiatives, all aimed at unlocking value for our shareholders. I would like to thank all our loyal shareholders, old and new, yet again for their continued patience, and we are looking forward to resuming trading shortly.”

Livestream Acquisition

Intema and Livestream continue to progress towards the closing of the Proposed Transaction as previously announced. Its due diligence is completed, the definitive share purchase agreement is being finalized and the Corporation expects to have its Isle of Man gaming license hearing on December 9, 2021.

Livestream is a private corporation which owns LOOT.BET, a Curaçao licensed server-based real-money gaming platform and website, and a top brand in the world of esports betting.

LOOT.BET is one of the global leaders in esports betting, with a focus on live betting, online gaming and supporting its 450,000+ registered users. Supported by a professional operational and software development team of over 50 employees, LOOT.BET is world-renowned not only as an established and reliable esports betting platform but also as a supporter of the esports industry. It is a regular sponsor of notable professional tournaments and teams and a partner of leading esports operators, studios and bright esports talents and influencers. It is also a proud supporter of the anti-corruption Esports Integrity Commission, helping the organization combat match-fixing and betting fraud, thereby contributing to the development and maturing of both the esports and the esports betting industries.

The table below provides a summary of Livestream management prepared current financial information, the re-audit of which is progressing and should be completed in December 2021:

For the year ended
December 31, 2020
(unaudited)
For the year ended
December 31, 2019
(unaudited)
(CA$)* (€) (CA$)* (€)
Total revenue 12,588,975 8,229,042 8,655,450 5,826,097
Operating profit 1,152,316 753,235 334,905 225,429
Net income/(loss) and comprehensive income/(loss) for the period 191,619 125,256 (158,398 ) (106,620 )
Total assets 4,656,474 2,983,389 3,406,902 2,336,215
Total liabilities 5,729,703 3,671,004 4,592,298 3,149,076
Total long-term liabilities
Cash dividends declared

* The profit and loss items use the year-to-date average CA$/€ exchange rates of 1.529823 for 2020 and 1.485634 for 2019; the balance sheet items use the year end spot rate of 1.5608 for 2020 and 1.4583 for 2019.

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Caesars Entertainment

OLG Selects Caesars Entertainment as the Service Provider for Windsor Casino

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The Ontario Lottery and Gaming Corporation has selected Caesars Entertainment as the Service Provider in the Windsor Casino procurement process. This is the final procurement process in the OLG’s land-based gaming modernization initiative.

Tom Reeg, CEO of Caesars Entertainment, said: “We are thrilled to be selected as the service provider for the Windsor Casino by the OLG. Caesars has a long history of managing Windsor and looks forward to continuing to deliver exceptional guest service and experiences at the property.”

Caesars and its predecessor companies have partnered with the OLG to operate Caesars Windsor (fka. Casino Windsor) since the opening of the temporary facility in 1994. Caesars will assume responsibility for gaming and non-gaming operations of the Windsor casino on behalf of the OLG under a 20-year operating agreement, which is expected to begin in 2026.

OLG requires an 18-month restriction on any organizational changes consistent with other gaming bundle modernizations in Ontario. Unionized employees will continue to be governed by the terms of their collective agreement.

The post OLG Selects Caesars Entertainment as the Service Provider for Windsor Casino appeared first on Gaming and Gambling Industry in the Americas.

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AGCO issues penalties of $151,000 against Great Canadian Entertainment for alleged age verification failures

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The Alcohol and Gaming Commission of Ontario (AGCO) has issued $151,000 in penalties to Great Canadian Entertainment for allegedly failing to prevent minors from accessing gambling on multiple occasions at three Toronto-area casinos.

As part of its investigation, the AGCO reviewed four separate incidents in which minors allegedly gained access to the casino floors and in which some of these minors participated in gambling activities – two cases at Great Canadian Casino Resort Toronto, and one at each of Casino Ajax and Pickering Casino Resort.

The AGCO is committed to ensuring casinos meet Ontario’s high standards of harm reduction and responsible gambling. The AGCO’s Standards require operators to ensure only eligible individuals are permitted into a gambling site and strictly prohibit access to anyone under 19 years of age (except in the course of employment). The Standards also mandate that casino employees have the necessary competence, skills, experience and training to effectively carry out their duties, including age verification.

This enforcement action underscores the AGCO’s dedication to protecting youth and other vulnerable individuals.

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

“Ontario casino operators have an obligation to ensure minors are not able to access casino floors or activities such as slot machines or table games. The AGCO will continue to monitor and hold all casino operators accountable for fulfilling this important role.”  – Dr. Karin Schnarr, Chief Executive Officer and Registrar, AGCO.

The post AGCO issues penalties of $151,000 against Great Canadian Entertainment for alleged age verification failures appeared first on Gaming and Gambling Industry in the Americas.

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ToonieBet Launches its Sportsbook on Apple App Store and Google Play Store

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ToonieBet, Soft2Bet’s flagship online casino and sportsbook for Ontario, has officially launched its sportsbook on the Apple App Store and Google Play Store. The platform is tailored specifically for local players, offering a dynamic betting experience with a broad range of sports events and competitive odds. The platform also features personalised promotions and loyalty rewards designed to match the preferences of Ontario’s diverse betting community.

The sportsbook uses official data feeds, ensuring players have access to the most accurate and up-to-date information on top local and international sports events. Additionally, the platform offers live broadcasting with real-time match analytics, allowing users to make informed betting decisions as events unfold. Integrated with MEGA and advanced player account management features, the operator is committed to delivering a seamless and responsible gaming environment that enhances the overall player experience while supporting local sports initiatives.

As part of this launch, the platform has also introduced a Sportsbook section on its official website, expanding its portfolio and bringing more choice to its growing customer base. With access to over 85,000 live events each month and more than 70,000 pre-match events across a wide range of sports, players now have even more ways to bet on what they love. Soft2Bet’s Canadian brand invites all players to explore its standout online casino and the full spectrum of sports betting, all delivered through a fast, secure, and fully localised platform.

‍Since its debut at the end of 2024, ToonieBet has offered a fast, fair, and secure online casino and sportsbook experience, fully localised for Ontario’s vibrant gaming market. The Apple App and Google Play additions further enhance accessibility, bringing ToonieBet’s premium entertainment to players on the go.

Additionally, this milestone complements the operator’s recent partnership with the NHL’s Ottawa Senators, which made ToonieBet the Official Online Casino Partner of the team. The partnership includes in-arena branding, digital promotions, and fan engagement initiatives like social contests, allowing ToonieBet to connect with Ontario sports fans in exciting ways and offering chances to win team merchandise and tickets.

Yoel Zuckerberg, Soft2Bet’s Chief Product Officer, said: “As Soft2Bet continues our rapid growth, we are excited to provide Ontario players with access to ToonieBet’s sportsbook which is now available on the Apple App and Google Play Store, offering seamless access to a customised experience tailored for the province’s passionate gaming community.”

The post ToonieBet Launches its Sportsbook on Apple App Store and Google Play Store appeared first on Gaming and Gambling Industry in the Americas.

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