Sportech has successfully concluded its delisting from the Alternative Investment Market (AIM) of the London Stock Exchange. This pivotal transition marks a strategic shift for the company as it prepares to register for 'private limited' status.

Strategic transition

Sportech's decision to delist its shares was first announced in September of this year.

At that time the market reacted with a notable nearly 50 percent decline in its share price. The Edinburgh-based company, renowned for its meticulous operations, which includes a number of sports bars and betting venues in the US state of Connecticut, holds an exclusive licence to offer pari-mutuel wagering. It maintains a crucial agreement with the Connecticut Lottery Corporation to provide retail sports betting.

Additionally, Sportech extends its services into the digital technology, offering online pari-mutuel betting in Connecticut through Mywinners.com and catering to a nationwide audience across the United States via the platform 123bet.com.

The delisting strategy was brough about by a comprehensive review conducted by Sportech. This thorough assessment concluded that the obligations and burdens of maintaining a publicly listed status had become signficantly substantial. The financial and regulatory costs of remaining a publicly traded company were found to outweigh the benefits, prompting Sportech's strategic decision to transition to the status of a private limited company.

Journey to Sportech Limited

With the delisting process now completed, Sportech is ready to start on the next phase of its corporate journey. The company will need to re-register itself as a private limited company, operating under the name "Sportech Limited." The official adoption of new articles of association is anticipated to take place in the coming week.

This transformation signifies a huge change in Sportech's operational status and governance structure. The limited status will allow the company greater flexibility and control over its operations, free from the compliance and reporting requirements of being a publicly traded entity.

Implications for shareholders

Sportech's transformation from a publicly listed company to a private limited one carries significant implications for its shareholders. To facilitate future shareholder transactions involving the company's ordinary shares, Sportech has engaged JP Jenkins, a reputable trading platform dedicated to unlisted companies.

A necessary component of this arrangement is the establishment of a matched bargain facility. This facility acts as an intermediary, connecting investor offers to buy and sell certain securities directly with one another. Its operation is expected to extend for a minimum of 12 months from the key date of 16 October 2023, as per Sportech's statement. The intention of the company's directors is that this facility will continue beyond that timeframe.

However, it's important to highlight that shareholders have been cautioned regarding the potential withdrawal of the matched bargain facility after a year. This action could potentially limit their ability to trade Sportech shares. In the meantime, shareholders desiring to execute share transactions can continue to do so through their stockbrokers.

The final and critical aspect of this transition is the impact on Sportech's share price. As of October 17, shares are trading via JP Jenkins at 98p, a notable increase from the closing price of 84p on the preceding day. Nevertheless, it's essential to note that this price still remains significantly below Sportech's historical high, with shares trading for more than ￡4 as recently as January 2022.

Sportech's decision to shift from a publicly traded entity to a private limited company represents a defining moment in its corporate trajectory, signalling adaptability and a commitment to strategic evolution.

Related topics:

SiGMA’s next stop is Malta from 13 – 17 November

Treating crypto assets as a form of gambling would pose a risk (www.1rick.com)

Mansion Group announces permanent Gibraltar closure (www.1rick.com)

Sportech PLC announced proposed delisting after H1 results (www.1rick.com)

BetConstruct introduces the OTT platform, poised to reshape the streaming landscape. This platform offers the possibility to provide streaming from any corner of the world through FastMedia.

The OTT solution is a game-changer for streaming providers, offering to tailor the OTT platform to the specific needs of federations and other streaming companies. The fast and intuitive admin tool simplifies customisation and creation of a platform that perfectly aligns with the client's vision.

The clients are provided with the flexibility to craft a unique design based on their references and seamlessly add payment methods for the OTT platform. At the same time, other services provided by Fast Media are also available upon request.

BetConstruct’s OTT solution is provided through Web and Mobile versions, as well as Apps available on the App Store, Play Market, Apple TVs, and Android TVs. Additionally, custom Smart TV apps can be developed upon request.

With key features including access to live streaming and Video-On-Demand (VOD) content, flexible monetisation through subscriptions and PPVs, Multi-Channel Broadcasting, Multi-Language Support, etc., the OTT platform is set to provide a dynamic, user-friendly, and customisable experience.?

SiGMA Europe’s Malta Week festival brings together a diverse and international group of industry leaders for a convergence of expo, conference, and networking. The event will be held at the Mediterranean Maritime Hub (MMH), a larger, more dynamic venue that promises a raw, industrial, and unconventional space unlike anything ever used before.

In the words of SiGMA Group founder Eman Pulis, “We’re redesigning your entire experience, from the minute you land in Malta until the very last moment. I look forward to welcoming you with open arms to this iGaming festival.”

You can find all the details?here. Happy to see you in Malta !

LAS VEGAS – October 9, 2023 – SCCG Management, the leading management advisory firm in the gambling industry, is excited to announce its partnership with SSTrader, a state-of-the-art AI-powered sports analytics platform that is set to redefine sports betting. This collaboration marks a significant step forward in the sports betting industry, combining SCCG's global influence and expertise with SSTrader's innovative technological solutions.

Moreover, this partnership brings promising advantages to operators within the industry, elevating their capabilities in several crucial ways.

Notably, ChatSST stands out as a revolutionary tool for end-clients, delivering personalized interactions that redefine customer engagement. Its role as a powerful retention tool adds significant value to players, fostering long-lasting relationships. Furthermore, SSTrader's platform offers operators the advantage of providing their customers with highly detailed predictions derived from a range of AI analyses on extensive historical data.

With SCCG Management's extensive global presence and its esteemed position as a leading advisory firm in the gambling industry, SSTrader is well-positioned to expand its reach and revolutionize traditional sports betting experiences on a global scale.

Stephen Crystal, CEO of SCCG Management, said, "At SCCG, we pride ourselves on identifying and partnering with the most groundbreaking ventures in the gambling arena. SSTrader's unique platform, which merges the complexities of big data, AI, and machine learning, represents the future of sports betting. In addition, we believe their proprietary AI-powered chatbot is a first-of-its-kind customer engagement and retention tool, set to take the industry by storm. We're thrilled to be part of their journey and provide them unparalleled access to global markets through our extensive network."

Boris Chaikin, Strategic Advisor and Partner at SSTrader expressed his enthusiasm for the partnership, stating, "We are honoured and humbled to have the ability to work with SCCG at this early stage of our development. The assistance we expect to receive is instrumental in developing our team’s product and vision. We look forward to tapping into SCCG’s unrivaled industry network for early market penetration and further technological development in the sports betting space."

With SCCG Management's global offices located in every corner of the world and its position as the top-Ker advisory firm in the gambling industry, SSTrader is poised to expand its reach and disrupt traditional sports betting experiences.

Join us in Malta for SiGMA Europe 2023

SiGMA Europe’s Malta Week festival brings together a diverse and international group of industry leaders for a convergence of expo, conference, and networking. The event will be held at the Mediterranean Maritime Hub (MMH), a larger, more dynamic venue that promises a raw, industrial, and unconventional space unlike anything ever used before.

Find all the details here.

In a recent development follow the recent cybersecurity breach at MGM Resorts, a comprehensive update has been provided by the company of the incident that impacted its operations in September. In an official statement, MGM Resorts disclosed that itdetected unauthorized third-party access to select systems, resulting in a breach that exposed sensitive customer data.

Legislation for online casinos

The breach, which raised concerns across the online casino industry, involved the unauthorized access of specific customer information, including names, contact details such as phone numbers, email addresses, and postal addresses, as well as gender, date of birth and driver's licence numbers. In some cases the incident also led to the exposure of social security numbers and passport numbers for a smaller group of customers.

Regulatory industry

However, reassuringly, MGM Resorts stated that customer passwords, bank account numbers and payment card information remained untouched and secure throughout the attacks.

Responding swiftly to the breach, MGM Resorts implemented robust security measures, including the temporary shutdown of specific systems, to protect both its operations and customer data. In a bid to get to the bottom of the matter, the company has since initiated a comprehensive investigation in collaboration with cybersecurity experts and law enforcement agencies.

To mitigate potential harm to affected customers, MGM Resorts has taken further steps by offering complimentary credit monitoring and identity protection services. Customers who receive notifications about the breach are strongly encouraged to follow the provided instructions for enrolling in these services.

Not an isolated incident

The incident that has been much publicised is not an isolated occurrence within the gaming industry. Recently, Caesars Entertainment also fell victim to a similar cybersecurity breach. The comapny has reportedly paid a substantial ransom of approximately US$15 million to prevent disruptions to its operations.

In April 2023, Gateway Casinos in Ontario faced system outages due to a cybersecurity incident, resulting in the temporary closure of its locations.

Bank accounts are not compromised

Bill Hornbuckle, CEO & President of MGM Resorts,(in photo above), reached out to customers through personalised letters, expressing gratitude for their loyalty and patience during the incident. He reassured customers that the breach did not compromise any bank account or payment card information and that the company believes the attack has been successfully contained.

As the online casino industry faces these cybersecurity challenges, MGM Resorts' response demonstrates the critical importance of safeguarding customer data and maintaining operational resilience. The incident serves as a stark reminder for businesses in the gaming sector to remain vigilant and proactive in their efforts to protect both their operations and the sensitive information entrusted to them and the need to have an airtight and robust operational risk framwork in place.

MGM Resorts' commitment to transparency and customer support in the aftermath of this breach sets a precedent for the industry to address cybersecurity challenges head-on.

Related topics:

STOP PRESS! SiGMA Europe takes place in Malta between 13 to 18 November.

A national controversy – no end in sight for Okada Manila

Xbox, in collaboration with Barclays and Mastercard, has introduced the Xbox Mastercard, a co-branded credit card tailored for gamers in the United States. With no annual fee, the card offers a range of benefits designed to elevate gaming experiences and enhance everyday purchases.

The days of traditional high street banks are fading as their presence gradually diminishes. The emerging approach for retail banks involves providing a personalized B2C service that builds a unique connection with each customer. This collaboration marks a significant stride forward for digital banking.

Gamers can reap many rewards with this card and cardholders can earn 5X card points on qualifying purchases within the Microsoft Store and receive 3X card points for eligible dining delivery and streaming services. a new game pass member will be entitled to get 3 months of Xbox Game Pass Ultimate after the first purchase. Cardholders will also benefit from an initial bonus of 5,000 card points. Additionally, the card also offers 1X card points for regular everyday purchases.

Cardmembers can choose from five Xbox-inspired card designs. An option exists to have their Xbox gamer tag printed on the back of the card.
This integration blends virtual experiences with daily spending.

The benefits are initially available to  Xbox Insiders across all 50 states from 21 September 21 and will be open to the general public in the US in 2024.
Additional perks include 5X card points on Microsoft Store purchases, free access to FICO Credit Score and exclusive experiences on Priceless.com for Mastercard cardholders. Cardholders also benefit from the Mastercard network’s ID Theft Protection, Zero Liability Protection and global services for emergency assistance.

Dave McCarthy, Corporate Vice President, Xbox Player Services, explained that the collaboration’s aim to reward Xbox players for their purchases.Barclays, with over 20 years of co-branded credit card programme experience, aims to enhance gaming enjoyment for the Xbox community.

The release of the Xbox Mastercard builds upon the longstanding partnership between Mastercard and Microsoft, focusing on innovation and secure digital experiences.

Xbox Insiders residing in the continental United States can apply through the Xbox Insider Hub on their console or a Windows PC after joining the Xbox Mastercard Preview. The rollout of the card will occur in stages, with priority to Xbox Insiders in the coming months.

The introduction of the Xbox Mastercard represents not only a ground breaking collaboration between gaming giant Xbox, Barclays and Mastercard but also the potential for a broader engagement for financial institutions with their customers. This innovative credit card, tailored to gamers’ preferences, goes beyond traditional rewards and seamlessly integrates the virtual gaming world with everyday spending.

With gamers enjoying the benefits of 5X card points for Microsoft Store purchases and exclusive access to Xbox Game Pass Ultimate, the partnership signals a new era in personalized financial services. The option for customization, including Xbox-inspired card designs and gamer tags, demonstrates a unique approach to banking that mirrors the individuality of today’s consumers.

As this partnership continues to evolve, it opens doors for further gamified financial products and services. We may witness financial institutions collaborating with various industries to tailor credit cards and banking experiences to specific consumer lifestyles, whether that’s travel, entertainment, or sports.

The Xbox Mastercard is not just about rewarding gamers; it’s about recognizing the potential of consumer-centric financial offerings. This collaboration sets the stage for future innovation in the banking sector, where personalization, rewards, and seamless integration with passions and interests become the norm.

Related topics:

Betsson set for record second quarter results

SiGMA’s next stop is Curacao, held in Association with the Ministry of Finance

Cura?ao Summit

Michael Bay is entering the gaming industry with a project initially conceived almost 20 years ago. 

The highly acclaimed director filmmaker years and has reached the testing phase of development. 

Bay expressed a great exuberance to access the great storytelling potential video games possess. He went on to compare games and films as shared experiences that a truly unique human interactions. 

The story of Bay’s game originated in forgotten notes that he had written 17 years ago. These would eventually emerge when the award-winning director acquired the game company Digital Domain from fellow film auteur James Cameron.

Bay has laid out his intention to make a vast world with compelling characters, cathartic emotion and his signature intense action. 

Bay unveiled his plans at the Next World Forum, a tech summit which was held in the Saudi Arabian capital of Riyadh.

In a panel discussion following Bay’s announcement, he was joined by retired footballer Gareth Bale, himself the owner of Ellevens Esports. 

Bale took the opportunity to emphasise the very real similarities Esports shares with professional sports. 

He would go on to speak about the growth and potential esports possess as a means for players to compete professionally in a variety of arenas with numerous skill sets stating:

"It's the next best thing to being a professional footballer or an NFL player and you can play these games in a professional environment.”

Serial entrepreneur, Gary Vee, also made an appearance giving a typically insightful take regarding the cultural future of the video game medium. 

In line with Michael Bay’s sentiments on the topic, Vee noted that gaming has become an influential cultural pillar much in the same vein as films, sports and fashion. 

He also predicted that the future is bright and lucrative for the gaming industry from a variety of perspectives stating unequivocally: 

"On this day, as we sit here, this is the smallest the gaming industry will be."

SiGMA Balkans/CIS

As a globally recognised nexus for networking, SiGMA Group sets its sights next to the Balkans this September, when the SIGMA Balkans/CIS Summit heads to Limassol Cyprus.

A host of?networking opportunities and industry-leading knowledge?will be emanating from the much-anticipated event which will pack panel discussions, keynote speeches, start-up pitches and much more into 3 days in the diverse Cypriot city.

https://youtu.be/ULUl5B3N5Ks

BetConstruct has entered a new phase in the crypto-iGaming sector through the launch of its innovative multi-wallet and custom token features.

The solutions aim to open new avenues for partners within the digital space. According to BetConstruct, the newly introduced solutions represent a substantial leap forward in crypto management and token personalization, presenting all stakeholders with exciting prospects.

The multi-wallet solution introduces a user-friendly way to manage multiple wallets, encompassing both cryptocurrencies and fiat, without the need for complex conversions. This streamlined approach is anticipated to enhance deposit and withdrawal processes, elevating the overall gameplay experience.

BetConstruct's Custom Tokens solution empowers partners to generate new tokens on the Bahamut platform. Designed to replicate the success of FTN, this solution offers a range of customizable variables, providing partners with flexible options.

From a technical standpoint, BetConstruct will ensure these tokens are listed on both centralized and decentralized exchanges. This inclusive approach will also include technical support for liquidity management, market-making, promotions and marketing. Assistance can be offered in establishing token-issuing entities, creating and reviewing whitepapers, legal opinions, bank account setup, agreement preparation, and securing crypto exchange licenses across diverse jurisdictions. The launch of these pioneering features reaffirms BetConstruct's commitment to driving innovation.

The company has consequently launched the B.F.T.H Arena Community. The initiative includes the B.F.T.H. Arena Best FTN Game Awards, designed to inspire partners to showcase their creativity and develop fresh games on the Bahamut Chain platform.

Contestants will be challenged to incorporate one of four BetConstruct brand motifs: Mr First, Akn eye, FTN, and Bahamut. The B.F.T.H. Arena Best FTN Game Awards will encompass four categories – Best Online Casino Games, Best Bahamut Games, Best DECA Games, and Best Game Design.

Winning entries will share in a prize pool totaling over 3,333,000 FTN tokens.

BetConstruct highlighted the unique features of the Bahamut blockchain platform, pointing out its innovative consensus mechanism PoSA (Proff of Stake and Activity) and its native token, FTN (Fasttoken). The platform enables businesses and individuals to create applications, including a variety of casino games, utilizing blockchain technology.

Moreover, with DECA (Decentralised Casino), BetConstruct is once again at the forefront with a new-generation blockchain gaming platform. This platform relies entirely on smart contracts, ensuring complete transparency and verifiability for all games.

The game submission process for the B.F.T.H. Arena Awards will remain open from 1 September to 30 November. This initiative demonstrates BetConstruct's commitment to driving the evolution of the gaming industry through innovation and community engagement.

Related topics:
?????? ???????? SiGMA ???????????????????????? ? LIMASSOL, CYPRUS | 4-7 SEPT and WILLEMSTAD, CURA?AO | 25-28 SEPT

SiGMA’s next stop is Limassol, Cyprus

Treating crypto assets as a form of gambling would pose a risk (www.1rick.com)

Unsuccessful NASDAQ listing for PlayUp

Las Vegas Sands second quarter results exceed analyst forecasts