More acquistions Seven Aces Limited Acquires Four Gaming Contracts from Ambaji Amusement LLC
Thursday, July 18, 2019 7:45 AM
Continues Executing on Its Long-Term Vision of Consolidating the Georgia Gaming Market
TORONTO, ON / ACCESSWIRE / July 18, 2019 / Seven Aces Limited (formerly Quantum International Income Corp.) (the "Company") (TSXV: ACES) is pleased to announce that its 70% owned subsidiary, Lucky Bucks, LLC ("Lucky Bucks"), has acquired four location contracts from Ambaji Amusement LLC, a digital skill-based gaming terminal operator based in the U.S. State of Georgia, in exchange for cash consideration of US$982,879 (the "Acquisition").
The purchase price for the Acquisition was funded by Lucky Bucks through an advance under the senior secured credit facility described in the press release of the Company dated November 15, 2018 and titled "Quantum Announces Increase in Credit Facility to US$100 million; Other Corporate Updates". The gaming contracts that have been acquired are fully licensed and governed by the Georgia Lottery Corporation, and offer players a variety of skill-based coin-operated amusement machines.
Manu K. Sekhri, Chief Executive Officer of Seven Aces Limited, added the following remarks: "This acquisition is consistent with our strategy of adding high performing locations in the state of Georgia."
The Acquisition was completed pursuant to a purchase agreement dated July 17, 2019 among Lucky Bucks and Ambaji Amusement LLC and Karan Desai which will be available on SEDAR (www.sedar.com) under the Company's issuer profile.
About Seven Aces Limited
Seven Aces Limited (formerly Quantum International Income Corp.) is a gaming company, with a vision of building a diversified portfolio of world class gaming operations. The Company looks to enhance shareholder value by growing organically and through acquisitions. Currently, the Company is the largest route operator of skill-based gaming machines in the State of Georgia, United States of America.
For more information about the Company is available online at www.sevenaces.com.
For further information please contact Quantum:
Manish Grigo
Vice President, Corporate Affairs
Tel. (416) 569-3292
manish@sevenaces.com
Stephanie Lippa
Office Manager
Tel. (416) 477-3411
stephanie@sevenaces.com