Seven Aces Limited Acquires Three Gaming Contracts From A&R Entertainment Inc.
Monday, March 11, 2019 8:00 AM
TORONTO, ON / ACCESSWIRE / March 11, 2019 / Seven Aces Limited (formerly Quantum International Income Corp.) (the "Company" or "Aces") (TSXV: ACES) is pleased to announce that its 60% owned subsidiary, Lucky Bucks, LLC ("Lucky Bucks"), has acquired three (3) location contracts from A&R Entertainment Inc., a digital skill-based gaming terminal operator based in the U.S. State of Georgia, in exchange for cash consideration of US$1,401,601 (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 Corporation dated November 15, 2018 and entitled "Quantum Announces Increase in Credit Facility to US$100 million; Other Corporate Updates." The gaming terminals that have been acquired are fully licensed and governed by the Georgia State Lottery, 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: "We are excited to continue adding high quality locations to our existing platform. We look forward to continue executing on our acquisition pipeline."
The Acquisition was completed pursuant to a purchase agreement dated March 8, 2019 among Lucky Bucks and A&R Entertainment Inc. and Karim Lakhani which will be available on SEDAR (www.sedar.com) under Aces' 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 Corporation looks to enhance shareholder value by growing organically and through acquisitions. Currently, the Corporation is the largest route operator of skill-based gaming machines in the State of Georgia, United States of America.
For more information about ACES is available online at www.sevenaces.com.