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Financing News

Gaming Technologies issues warning as cash reserves evaporate

iGaming supplier and operator Gaming Technologies has warned that it may not be able to continue as a going concern after cash reserves fell to zero at the end of the second quarter of the year.

Gaming Technologies (Gametech) operates the vale.mx iGaming brand in Mexico under a revenue share partnership [...]

1 min read
Catena Media

Catena Media plans for redundancies amid wider strategic review

Catena Media is planning for redundancies within its Malta and UK operations as part of an expanded strategic review of its European business.

The company said Wednesday that the strategic review initiated in May will now be expanded to include the European online gaming and betting affiliate business, which has suffered [...]

1 min read

Betr raises $50m ahead of US sports betting launch

Newly established sports betting operator Betr has raised $50m as it prepares to launch in the United States.

Miami-based Betr was founded by Simplebet co-founder Joey Levy and social media personality Jake Paul, and focuses predominantly on micro-betting, enabling in-play betting on scenarios such as pitches and at-bats during baseball games, [...]

1 min read
Lottery.com

Inability to pay staff sees Lottery.com shares lose over 60%

Shares in New York-listed Lottery.com lost more than 60 per cent of their value on Friday after the company announced that it is unable to meet its payroll obligations.

The company owes approximately $425,000 in outstanding payroll and said that it would begin to furlough certain employees with immediate effect.

“The Company’s [...]

1 min read

Underdog Sports raises $35m to fund sports betting expansion

New York-based daily fantasy sports operator Underdog Sports has raised $35m in a Series B round of fundraising as it looks to expand into sports betting.

The round includes funds and accounts managed by BlackRock, as well as Acies Investment, and values the company at $485m.

The funding will enable Underdog to [...]

1 min read

Future Anthem completes Series A funding round

London-based AI and game data specialist Future Anthem is looking to accelerate its growth and expand into the Americas after securing a Series A round of funding.

The financing was led by early-stage venture firm Bettor Capital, with participation from Sharp Alpha Advisors, former Don Best Sports managing director Benjie Cherniak, [...]

3 mins read

Michigan legislature increases funding for Gaming Control Board

The Michigan Gaming Control Board (MGCB) is on track to secure an additional $7m in funding to promote responsible gambling initiatives and to effectively manage higher-than-expected internet gaming activity.

The additional funding was agreed by lawmakers as part of the state’s 2023 fiscal year budget, which has now been submitted to [...]

1 min read
Scout Gaming Group

Scout Gaming seeks to raise funds amid staff cuts

Shares in Scout Gaming Group slumped by more than 40 per cent in Stockholm Thursday morning after the fantasy sports supplier announced significant redundancies.

The company plans to eliminate more than 50 per cent of its workforce, cutting headcount to 63, while also overhauling its senior management team and bringing in [...]

1 min read

New Zealand announces new strategy to prevent gambling harm

New Zealand’s government is investing more than NZ$76m on measures to prevent and minimise harm caused by gambling.

The Labour government claims that one in five New Zealanders will experience gambling harm in their lives, with its new Strategy to Prevent and Minimise Gambling Harm set to be the most significant [...]

1 min read

Jackpot raises $35m to fund US expansion

San Francisco-based online lottery ticket app and platform provider Jackpot has secured $35m in funding ahead of its planned launch in the United States this year.

The Series A funding round was co-led by Accomplice and Courtside Ventures, with participation from the Kraft Group, Fanatics CEO Michael Rubin, Theo Epstein, Fenway [...]

3 mins read
PointsBet

PointsBet secures investment from SIG Sports

Sydney-listed betting and gaming operator PointsBet has secured an AUD$94.2m investment from Pennsylvania-based financial trading firm SIG Sports Investment Corp.

PointsBet has agreed to issue 38,750,000 shares to SIG Sports at a price of $2.43 per share, representing a 15 per cent premium compared to the five-day volume weighted average price [...]

1 min read

Huddle Tech secures investment from Las Vegas Sands

Huddle Tech, a supplier of automated solutions for trading, odds and risk management for iGaming operations, has secured a strategic investment from Las Vegas Sands.

The investment follows the merger of Huddle Gaming and DeckPrism Sports to form Huddle Tech and enables the company to expand its offering into a full [...]

2 mins read
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