Edison published a note this morning on Research Tree: "Gaming Realms has announced a strategic partnership with the Ayima digital marketing agency whereby it is injecting its QuickThink Media (QTM) assets in return for a 10% stake valued at £540k. The rationale for the deal is to allow Gaming Realms management to further focus on its core strength, being the development and publishing of mobile optimised social and real money games, while also strengthening QTMs outlook by placing it within a growing complementary business."
Read Edison's note on GAMING REALMS PLC (GMR), out this morning, by visiting https://www.research-tree.com/company/GB00BBHXD542
"Gaming Realms 2015 final results show a business that continues to build momentum, as revenues more than doubled to £21.2m (2014 pro forma: £9.8m). Growth is being driven by its real money and social gaming (including licensing) verticals, which were up 362% and 294%, respectively. Gaming Realms also recently announced that it has extended its licensing deal with Scientific Games to land-based gaming machines as part of its strategy of taking the Slingo brand into adjacent markets. 2015 adjusted EBITDA losses fell by 30% to £4.1m and the Q1 trading update (revenues up 100% y-o-y) supports our view that the company can break even at the EBITDA level this year..."
Gaming Realms signs land based gaming machine licensing agreement
Slingo IP agreement with Scientific Games Corporation
Gaming Realms announces that it has signed a strategic, five-year licensing agreement with Scientific Games Corporation (NASDAQ: SGMS), one of the leading providers of gambling products and services to lottery and gaming organisations. The gaming machine manufacturer will have exclusive rights to produce and distribute Slingo® branded slot machines to casinos and related properties on a worldwide basis.
Under the terms of the licence, Scientific Games will develop new slot games for traditional gaming machines, video lottery terminals, and on-property handheld devices. The agreement includes a minimum guaranteed royalty stream to Gaming Realms payable within the first two years. The agreement is an expansion of Scientific Games' existing licence to produce Slingo® branded scratch lottery tickets. This is one of the most successful licensing arrangements in the lottery industry, selling over $1 billion dollars' worth of tickets across 36 U.S States and three international markets.
Commenting on the agreement, Patrick Southon, CEO, said:
"Following on from the success of our printed lottery products partnership with Scientific Games, we are delighted with the opportunity to bring Slingo to slot machines in casinos around the world with a market leader."
Gaming Realms, the creator and developer of interactive next generation online gaming products, has been notified by NewGame Capital LP, ("NewGame") that it no longer holds a notifiable interest in the Group.
NewGame's controlling shareholder, bwin.party digital entertainment plc, has been engaged in a programme of non-core asset disposals since Autumn 2014. Accordingly NewGame's holding in the Group has been placed with new and existing shareholders (the "Placing").
As a result of the Placing the following Directors yesterday purchased further ordinary shares of 10 pence each in the Company ("Ordinary Shares") at 20 pence per Ordinary Share:
Michael Buckley bought 1,400,000 Shares - total holding now 18,000,000 Shares (9.22%)
Patrick Southon bought 500,000 Shares - total holding now 10,897,039 Shares (5.58%)
Jim Ryan bought 1,000,000 Shares - total holding now 1,384,615 Shares (0.71%)
Atul Bali bought 1,000,000 Shares - total holding now 1,000,000 Shares (0.51%)
Some of GMR's directors have very close, if not incestuous, ties with bwin.party, either directly or through NewGame (majority owned by bwin.party), Cashcade (sold to PartyGaming) or PartyGaming (merged with Bwin to form bwin.party). This may help to explain the attractive price they paid for the shares.
Michael Buckley, Executive Chairman, was Executive Chairman of Cashcade, which he founded with Patrick Southon and Simon Collins in 2000, and led its sale to PartyGaming.
Patrick Southon, Chief Executive Officer, was Managing Director of Cashcade and Managing Partner of NewGame, an investment fund focusing on innovation within the gambling sector.
Mark Segal, Finance Director, recently left bwin.party as Finance Director of its bingo division, having been Finance Director of Cashcade until it was acquired by PartyGaming in July 2009. (He also claims to have taken the lead in the sale to PartyGaming!)
Simon Collins, Executive Director, co-founded Cashcade in 2000 and was its commercial director. Following the sale of Cashcade, Simon remained at bwin.party until April 2011. Simon then joined Patrick Southon in setting up NewGame.
Jim Ryan, Non-executive Director, recently retired as the Co-CEO of bwin.party. He lead the merger of PartyGaming and Bwin and the acquisition of Cashcade.
"They were still trying to raise capital via rights issues right up until the end".
Yes, at 3p per share. After consolidation that works out at 30p per share. Had you taken up the offer in December 2012, you would now be sitting on a 10% profit. Hardly mind blowing compared with the loss on previous purchases, but better than nothing.
I thought the discussion on PDX was dead and buried, but the experience has scarred many people that it may never be forgotten. I've managed to move on and been busy with new projects in USA. However I endorse all the comments made by maddmax1.
There is no plus side to shiningpath and denc. If they were honest guys looking to help then fine, but there was no reasoning with them. Shining just slapped down any comments which were in any way probing into what was happening in PDX whether it be the dodgy CEO, nil revenue, shorting, P&G , the list goes on. If they were pumpers and pushers then they carried out their work with distinction.
They, amongst a few other names I've forgotten, are just sad individuals who had an agenda which bore no resemblance to reality or consideration to other investors.
Maddmax, it's true that Shining etc have acted dishonourably and without conscience and probably continue their ways under another guise. Beware! It can't be the first time they done this.
Those who are still in are left with a joke of a "betting" company basically being on -line slot machines.
Quit the bitching and move on. If you where stupid enough to put all your eggs in the one basket without independently DYOR on the chicken then you - like me - have learned a hard lesson.
Yes I am also a member on the 90% club - but hey its getting a better.
Pdx has to have been one of the worst investments of all time.Did anyone notice how they were still trying to raise capital via rights issues right up until the end just before they decided to wind it up and sell it off in parts.Not a word of thanks or an apology from management to their shareholders for having shafted them so badly not even a reason why, nothing.Well thank you to the Pdx board of management for lining your pockets are our expense .Thanks also to the likes of shinypath and Denc for your erudite comments on what a wonderful company this was to invest in.I hope you are both now homeless and skint without a pot to p---- in.You would be more suited to picking potatoes than stocks!
The Company has been informed that Michael Buckley, Executive Chairman, today purchased 18,651 ordinary shares of 10 pence each in the Company at a price of 21.87 pence per share. Following this purchase, Mr Buckley's beneficial interest in Gaming Realms is 16,300,000 ordinary shares, representing approximately 11.1 per cent. of the Company's issued share capital.
If you've already got 16.3m shares why bother buying a few k more?
I'm not complaining, always good to see directors buying with their own cash, but a drop in the ocean he already owns . . .
If anyone is still interested, this is my last post on this BB.
If I have anything more to say it will be on the GMR BB. I have what is now a small interest in GMR. I made the mistake of selling my Zenergy (ZEN) shares when they announced they were selling off their superconductor/magnetic fault current limiter business to enter the cloud telecommunications business and a change of name to Synety (SNTY). It sounded like INSANITY to me. I missed out on a potential gain of 300% in 16 months.
The restructure and placing docs have been issued and I had mine sent out to USA as I was interested.
I'm not interested in investing in a gaming business, although the shares might go up 5 ot 10 fold. The previous performance of the new major shareholders and some directors has been good. However the net result for existing PDX holders I perhaps 10 or 15p.
I shall keep until the value of my remaining shares equates to a good lunch and I shall toast to something but can't think what that may be.
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