Betsson outrides pandemic challenges as regulatory dramas loom July 21, 2020 Spelinspektionen reminds operators of AML responsibilities July 2, 2020 Share Related Articles LeoVegas hits back at Swedish regulations despite Q2 successes August 13, 2020 StumbleUpon Submit Share Industry venture capital firm Velo Partners has confirmed that it has invested in new ‘full-service’ games development studio Foxium.The investment will see the Foxium management team join the RNG Foundry, an industry-specific accelerator launched by Velo Partners seeking to bring innovation and new operational disciplines to market.Ashley Sandyford-Sykes, Programme Director at RNG Foundry: “Foxium has all the ingredients for a successful games studio and we look forward to building world-class casino games content for our distribution channels. Foxium illustrates the ability for dynamic, forward-thinking studio that responds to market needs.”Led by Swedish entrepreneur Åke André (CEO & Founder), Foxium’s studio develops high-definition multi-vertical content for igaming/betting operators.One of the newer industry games developer (founded 2014), Foxium content is currently live on bet365, Leo Vegas, Mr Green, Betsson, Bet Victor and ComeOn online casino portfolios.Åke André, CEO at Foxium, commented on the funding round: “I am really delighted that we have inked this deal with Velo Partners and the RNG Foundry. Foxium has in the past been approached by several investors but for one reason or another it has never felt right. With Velo Partners, we felt for the first time we had an investor that had the same values, culture and vision as we do. Through Velo Partners and the RNG Foundry, we are able to strengthen our company in some critical areas, specifically speed to market and distribution of our games. I have great respect for the team at Velo Partners and RNG Foundry. It will be a pleasure having them on board as we take Foxium to the next level.”
GVC hires ‘comms pro’ Tessa Curtis to re-energise media profile August 25, 2020 GVC absorbs retail shocks as business recalibrates for critical H2 trading August 13, 2020 Martin Lycka – Regulatory high temperatures cancel industry’s ‘silly season’ August 11, 2020 Related Articles Share Share StumbleUpon Submit The governance of GVC Holdings has today released its ‘combined prospectus’ relating to its £4 billion takeover deal of Ladbrokes Coral Plc.The deal which enters its final stages has been approved by Ladbrokes Coral governance and is set to be reviewed by the UK Competitions & Markets Authority (CMA), which this week set a 21 February deadline for industry comment.In its investor presentation, GVC governance outlines a ‘highly compelling strategic rationale’ for the enlarged enterprise, which seeks to become the dominant FTSE gambling enterprise.Should the deal be concluded, GVC will move to create a technology leading multi-channel/multi-market gambling group, capable of competing in any jurisdiction through its combined scale and established brands.“The enlarged group will be a fast-growing, diversified, highly profitable, international online and retail sports betting led gaming company with >90% of NGR coming from locally regulated/ taxed markets” details the GVC prospectus.Seeking to deliver fast growth and profits for its investors, GVC states that the new enterprise will set-out to implement the following key enlargement initiatives;Diversified strategy focusing on scale within regulated marketsEstablish leading UK operations with a complementary international revenue base.Creation of a true global gaming & betting enterpriseDeveloping market leading scalable technology systemsClear group focus on sports bettingStrong emphasis on combined synergy creationsFurther deal advantages, see GVC governance highlight the leadership combination of both companies, which have proven executive teams with experience in corporate mergers.Throughout the prospectus, GVC highlights the importance of technology ownership, which the firm believes will help the new FTSE enterprise achieve effective multi-channel distribution combined with ‘highly flexible and highly scalable technology across all verticals’.The combined enterprises of GVC and Ladbrokes Coral will service a total of 15 brands, with an established presence in the UK, Italy, Spain, Belgium, Germany and Australia. Furthermore, the new FTSE gambling enterprise will have a strategical advantage should the US betting market be regulated.In its deal summary, GVC governance urges investors to take ‘the initiative now’, in order to secure ‘strategic and synergy benefits of the combination to be realised in the short term’.As the leading party in the transaction, GVC believes that it has secured stakeholders a flexible deal structure which allows for range of triennial scenarios, combined with favourable financing conditions.