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Better Collective completes acquisition of Action Network
Global sports betting media group, Better Collective announces the successful completion of its previously announced acquisition of leading US sports betting media platform, Action Network, Inc. (“Action”). The purchase price of 240 mUSD (198 mEUR) is settled in cash and a 11.4 mUSD issuance of new Better Collective (BETCO.ST) shares, which are to be issued at a share price of 231.35 SEK (27,61 USD) which has been determined as a weighted average over 5 trading days prior to signing on May 3, 2021. Further, 10 mUSD of the cash payment will be paid on a deferred basis as settlement of certain existing share options in Action.
Action will become an integral part of Better Collective US and will continue to operate as a separate business unit with its current brands, management team, and employees, led by CEO Patrick Keane, reporting to Group Management through Better Collective US CEO, Marc Pedersen.
Jesper Søgaard, Co-founder & CEO of Better Collective, says:
“We are excited to finalize the acquisition of Action and to formally welcome its employees to the Better Collective Group. This acquisition gives us a leading position within sports betting media in the US and a strong foundation for profiting from the continuous regulation of the US betting market.”
Patrick Keane, CEO of Action, says:
“With Better Collective’s experience and capabilities, we have the resources to continue growing our already leading sports betting product and media business, in order to ultimately enhance the betting and entertainment experience for sports fans in the US. I’m pleased that Action now officially joins the Better Collective Group and look very much forward to the journey ahead.”
The announcement of the acquisition of Action from May 3, 2021 and the accompanying webcast is available at bettercollective.com
Issue of shares
The board of directors of Better Collective has, in accordance with (i) the authorization from the annual general meeting held on 26 April 2021 and (ii) the terms for acquiring Action that were announced on May 3, 2021, resolved upon the issuance of 412,923 shares in Better Collective which will be subscribed for by Action’s management and certain key employees. The newly issued shares are paid through a reinvestment of a part of the aggregate purchase consideration of 240 mUSD (198 mEUR). The share price in the issuance of 231.35 SEK has been determined as a weighted average over 5 trading days prior to signing on May 3, 2021.
The issuance of the shares to Action’s management and certain key employees will increase Better Collective’s share capital by EUR 4,129.23, from EUR 538,648.06 to EUR 542,777.29 and the number of shares by 412,923, from 53,864,806 to 54,277,729.
The newly issued shares are subject to lock-up undertakings with durations ranging between 6 and 24 months.
Advisors
Morgan Stanley acted as sole financial advisor, Bruun & Hjejle and Greenberg Traurig acted as legal advisors, and PwC acted as accounting and tax advisor in connection with the acquisition for Better Collective. Nordea Bank will be providing financing to facilitate the closing of the transaction. Moelis & Company LLC acted as sole financial advisor and Venable LLP acted as legal advisor to Action.
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Week 46/2024 slot games releases
Here are this weeks latest slots releases compiled by European Gaming
Spinomenal has welcomed another title into its Wildlife Series, Majestic Bison. Set in the Wild West, Majestic Bison surrounds players in a landscape populated with wild wolves, elegant eagles, fearsome snakes and formidable goats. A stripped back soundtrack captures the essence of the Wild West, with banjos and harmonicas immersing players in the action as they hunt for gold.
PG Soft, a world-class digital mobile games company, is celebrating the magic of the Rio de Janeiro Carnival with the release of its new slot, Rio Fantasia. A young dancer named Isabella is the star of the show as players join in the rhythm and passion of one of the world’s most spectacular parties. Rio Fantasia is a 3-reel, 3-row video slot featuring Stacked Wild symbols, multipliers, and respin until win.
Hölle Games has released Jumpin’ Jacks, a new Classic title featuring a special Duplicating Wilds mechanic. This 5×3, 15 payline slot has a theme of Halloween harvest, with scarecrows, pumpkins, corn, crows and a creepy midnight sky completing the picture. The atmosphere is there to match, with a cosy yet somewhat spooky soundtrack.
Belatra Games, the specialist online slots developer, has served up Cafe Pin-Up, a slot that whisks players away to a vibrant 1950s diner, where retro glamour meets thrilling gameplay. Players take a seat inside a charming cafe, where pin-up girls are on hand to deliver delicious dishes in a raucous atmosphere created by a jukebox playing toe-tapping tunes. The game is presented in a 5×4 grid with 20 paylines with the Pin-Up Girl Wild symbol playing the key role.
New from Peter & Sons comes Muddy Waters, a game that will send your Geiger counter up to 11. This high-volatility and highly radioactive slot comes packed with symbol multipliers, power-ups and a unique fishing mechanic. Muddy Waters riffs on the popular fishing-slot genre, but since this is the weird and wonderful world of Peter & Sons, it gets flipped on its head, because this game is about reeling in radioactive fish.
Relax Gaming, the iGaming aggregator and provider of unique content, is getting players into the festive spirit with its latest release, Money Sleigh, a Christmas-themed slot guaranteed to deliver stocking-filled fun and the chance to unwrap big wins. Santa and his team of loyal helpers are ready to guide players through this exciting holiday adventure, with the potential to win up to 10,000x their stake.
The post Week 46/2024 slot games releases appeared first on European Gaming Industry News.
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AGREEMENT BETWEEN ZITRO AND GRUPO OSGA TO PROMOTE THE LABOT INTEGRATION OF PEOPLE WITH DISABILITIES
Zitro, a leading company in the gaming industry, has signed a collaboration agreement with Grupo OSGA, a business group committed to promoting the employment of people with disabilities. Grupo OSGA offers job opportunities to people with disabilities and supports their professional development in inclusive and accessible environments.
Through this alliance, Grupo OSGA will provide Zitro with a parcel and documentation service between its offices, optimizing Zitro’s operational efficiency and strengthening its social commitment to creating a more inclusive work environment.
At Zitro, we firmly believe in the power of diversity as a driver of growth and development. This collaboration with Grupo OSGA not only enriches our company but also reinforces our commitment to contributing to a fairer and more inclusive society,” said Albert Zorrilla, Managing Director of Zitro for Spain.
“The collaboration with a prestigious international company like Zitro not only constitutes recognition of the work that Grupo OSGA has been carrying out but also contributes to the generation of real opportunities for people with disabilities to achieve effective and stable integration in the labor market,” said Oscar Galilea, President of Grupo Osga.
The post AGREEMENT BETWEEN ZITRO AND GRUPO OSGA TO PROMOTE THE LABOT INTEGRATION OF PEOPLE WITH DISABILITIES appeared first on European Gaming Industry News.
Balkan's
EGT Digital’s iGaming platform X-Nave and successful titles to deliver high-quality experience to BetHub’s customers
BetHub and EGT Digital have started their successful partnership, as a result of which the leading Bulgarian operator is now using the iGaming platform X-Nave. Its 4 main modules: CRM Engine, Sport product, Gaming Aggregator and Payment Gateway, enable the betting site to effectively manage all online gaming business verticals and further improve its performance.
CRM Engine provides a wide range of player management tools and bonus features, allowing the operator to create more personalized offerings for its customers, based on their preferences and behavior.
Through X-Nave’s Sport product BetHub will enrich even more the sport content it offers.
The Payment Gateway gives access to numerous payment methods and thanks to the Gaming Aggregator EGT Digital’s slot games are already at the disposal of the website’s visitors. The top-performing titles from Bell Link, Clover Chance, High Cash, Single Progressive Jackpot, as well as the multiplayer game xRide quickly gained popularity among BetHub’s customers.
“We are very glad with our collaboration with EGT Digital so far,” commented Kiril Naldzhiev, CEO at BetHub. “The platform has made the management of our business much easier, and the company’s gaming content has shown impressive results that have not only met but exceeded our expectations.”
Tsvetomira Drumeva, Head of Sales at EGT Digital, also gave a positive evaluation to the cooperation. She said: “Partnering with a prominent operator like BetHub is very valuable for us, as it gives us the opportunity to demonstrate the enormous potential of our developments and consolidate our status as a leader in the local market. I am confident that this is the beginning of a very successful collaboration that will bring a lot of positives to both companies and the players themselves.”
The post EGT Digital’s iGaming platform X-Nave and successful titles to deliver high-quality experience to BetHub’s customers appeared first on European Gaming Industry News.
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