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Jackpot Digital Acquires PokerTek business
Tuesday July 7,2015 : MULTIMEDIA GAMES SELL OFF POKERTEK ASSETS
Jackpot Digital to merge assets with proprietary platform
Jackpot Digital (formerly Las Vegas from Home Entertainment Inc.) has acquired the assets of Multimedia Games’ PokerTek business for a $5.4 million cash consideration of which $2.25 million will be payable on closing.
The balance will be paid through an earn-out formula which may increase the consideration to $7.5 million, the company said.
PokerTek distributes its games on a recurring revenue participation model, recurring revenue fixed license fee model, or as a sale of hardware combined with recurring license and support fees which Jackpot Digital says will provide a significant boost to its bottom line while providing synergist opportunities with its existing mobile games further providing the ability to build unique features and products.
Assets included in the agreement comprise domain names, inventory, marketing material, patents, software and all trademarks along with existing licensing contracts with third parties related to the business.
"In addition to being located at land based gaming venues, the [PokerTek] electronic tables are used extensively on cruise ships where our mobile games are already played,” Jake Kalpakian, president and chief executive officer of Jackpot Digital said. “By merging the Company's current proprietary gaming platform with the assets that are being acquired, the Company expects to increase revenues significantly.
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
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