Tag: Scout Gaming Group

Scout scores sportsbook deal with Apple iSports

Scout Gaming Group has agreed a deal to provide sportsbook and fantasy sports solutions to Australian gaming business Apple iSports.

Under the deal, Apple iSports will roll out Scout’s sports betting and fantasy sports products during the first quarter of 2023.

Apple iSports primarily focuses on the Australian market, but the business also has a sports betting licence in the US state of North Dakota

“To get the opportunity to delivery our whole product offering on to a partner in a market which we have not delivered to before is very positive,” Scout’s acting chief executive Niklas Jönsson said. “And to make a first delivery of a sportsbook according to the partner’s requests will be very valuable in customer discussion going forward.”

The deal comes after Scout last month announced the results of its share issue process, raising SEK101m (£7.9m/€9.2m/$9.0m) in the scheme.

The process diluted existing shares by 90%. The process was instigated as an attempt to save the business, fol..

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Scout shareholders to vote on 90% share dilution next month

Scout Gaming Group shareholders will vote next month on a share issue that would dilute existing holdings in the business by 90%.

Fantasy provider Scout announced that it would conduct a share issue in order to save the business in June, after it identified a SEK17m ($1.7m/£1.4m/€1.6m) commitment in its finances which it said it was previously unaware of.

The commitment will impact cash flow for third quarter of this year and have a negative effect on profit and loss in the quarter of around SEK5.5m.

As a result of the new cost, Scout leadership took drastic action to save the business, including laying off 68 employees, between its offices in Bergen in Norway and Lviv in Ukraine.

As well as the layoffs, Scout said it would issue 202.7 million new shares, diluting existing shares by 90%.

The board has now revealed more details of the share issue. Each shareholder will be offered the opportunity to buy nine more shares in the business, at SEK0.50 per share.

Scout said that the iss..

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