Post by
Goldy63 on May 28, 2022 2:02pm
Wowsa. Ontario (NR) Latin America /North America New Markets
Read on . Deal is going to grow big Time. (Quote) Highlights During the three months ended March 31, 2022, the Company recorded $140,877 in revenue from its Live Dealer Product. During the three months ended March 31, 2022, the Company was able to successfully onboard 9 operators for a total operator count of 35 as at March 31, 2022. During the three months ended March 31, 2022, the Company saw increased player activity as a result of additional operators going live. This was offset by an increase in player win percentage resulting in decreased player loss during the period. Player win percentage is subject to a significant level of volatility on a month-to-month basis but is expected to normalize over an extended period of time. In addition to onboarding new operators, the Company plans to enter new regulated markets in 2022 with a focus on Latin America and North America to complement its customer growth in Europe. On May 4, 2022, the Company announced that it has applied for a Gaming Related Supplier – Manufactures License with the Alcohol and Gaming Commission of Ontario (the “AGCO”). The License will enable the Company to supply AGCO approved operators with its Live Dealer Product. On February 24, 2022, the Company announced that Bobby Soper was appointed to the Company’s Board of Directors. Mr. Soper brings two decades of experience overseeing the development of numerous projects from the ground-up. He has served as International President of Mohegan Gaming & Entertainment, as well as the CEO of the Mohegan enterprise. Upon the appointment of Mr. Soper, Jason Meretsky stepped down from the board of directors. On Jan 12, 2022, the Company signed a multijurisdictional software licensing and distribution agreement with Relax Gaming. Under the terms of the agreement, Relax Gaming will add and market Playgon's proprietary mobile first live dealer and E-table game offerings under the VegasLoungeTM brand, to its content library for availability and distribution to all Relax Gaming's global client base. The agreement is for three years with licence fees based on commercial revenue sharing rates.