Jackpot Digital Signs Two-Table Deal with Northern Waters Casino Resort in Michigan

Rhea-AI Summary

Jackpot Digital Inc. signs licensing agreement to install two Jackpot Blitz® dealerless poker ETGs at Northern Waters Casino Resort in Michigan, expanding their footprint. The company has received 38 new Jackpot Blitz® orders this year, representing a 58% increase in installations. The next generation Jackpot Blitz® is expected to be installed in Q4 2023. The company's pipeline of new business is expected to grow into 2024 as they obtain licensing for new jurisdictions.

Positive

• Jackpot Digital Inc. signs licensing agreement to install two Jackpot Blitz® dealerless poker ETGs at Northern Waters Casino Resort in Michigan, expanding their footprint.
• The company has received 38 new Jackpot Blitz® orders this year, representing a 58% increase in installations.
• The next generation Jackpot Blitz® is expected to be installed in Q4 2023.
• The company's pipeline of new business is expected to grow into 2024 as they obtain licensing for new jurisdictions.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / October 17, 2023 / Jackpot Digital Inc. (the "Company" or "Jackpot") (TSXV:JJ)(TSXV:JJ.WT.B)(TSXV:JJ.WT.C)(OTCQB:JPOTF)(Frankfurt Exchange:LVH3) is pleased to announce that the Company signed a licensing agreement to install two (2) of the Company's Jackpot Blitz® dealerless poker ETGs at Northern Waters Casino Resort ("Northern Waters"), located in Watersmeet, Michigan, USA, further expanding the Company's growing Jackpot Blitz® footprint. Since the Company has received vendor licensing from the Lac Vieux Desert Tribe and has recently obtained GLI certification for its Jackpot Blitz®, the Company is now scheduling installation at Northern Waters.

Year-to-date, the Company has entered into new agreements or letters of intent ("LOIs") for 22 Jackpot Blitz® table installations, and has received LOIs for an additional 16 tables from yet-to-be-announced partners, for a total of 38 new Jackpot Blitz® orders so far this year. These new orders, once installed, represent approximately 58% increase in Jackpot Blitz® installations. The Company is in the process of obtaining licensing for the relevant jurisdictions and is expected to begin installing the next generation Jackpot Blitz® in the fourth quarter of 2023. The Company's pipeline of new business is expected to grow into 2024 and beyond as the company obtains licensing for new jurisdictions.

Each new table installed shall represent additional monthly recurring revenue to the Company.

In addition to Jackpot's cruise ship customers, which include Carnival Cruises, Virgin Voyages, Princess Cruises, Holland America, AIDA, and Costa Cruises, Jackpot has announced land-based installations or orders in 12 states and territories in the U.S. and growing, including Michigan, Mississippi, Washington, Nevada, California, Kansas, Louisiana, Minnesota, Montana, Oregon, South Dakota, U.S. Virgin Islands, as well as several international jurisdictions.

Please click the thumbnail below to view a short video of Jackpot Brand Ambassador and Pro Football Hall of Fame coach Jimmy Johnson describing the advantages of the world leading Jackpot Blitz®.

About Jackpot Digital Inc.

A positive disruptor in the casino business, Jackpot Digital is a leading manufacturer of dealerless multiplayer electronic poker tables for the cruise ship and land-based regulated casino industries. The Company specializes in dealerless poker which is complemented by a robust suite of backend tools for casino operators to efficiently control and optimize their poker business.

For more information on the Company, please contact Jake H. Kalpakian, President and CEO, at (604) 681- 0204 ext. 6105, or visit the Company's website at www.jackpotdigital.com.

On behalf of the Board of Jackpot Digital Inc.

"Jake H. Kalpakian"

Jake H. Kalpakian
President & CEO

Trading in the securities of the Company should be considered speculative.

The TSX Venture Exchange has neither approved nor disapproved the contents of this news release.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Certain statements contained herein are "forward-looking". Forward-looking statements may include, among others, statements regarding Jackpot's future plans, the obtaining of customary regulatory approvals, projected or proposed financings, costs, objectives, economic or technical performance, or the assumptions underlying any of the foregoing. In this News Release, words such as "may", "would", "could", "will", "likely", "enable", "feel", "seek", "project", "predict", "potential", "should", "might", "objective", "believe", "expects", "propose", "anticipate", "intend", "plan", "plans" "estimate", "in due course" and similar words are used to identify forward-looking statements. Forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those expressed or implied. Although management believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, projections and estimations, there can be no assurance that these assumptions, projections or estimations are accurate. Readers, shareholders and investors are therefore cautioned not to place reliance on any forward-looking statements as the plans, assumptions, intentions or expectations upon which they are based might not occur.

SOURCE: Jackpot Digital Inc.

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https://www.accesswire.com/793527/jackpot-digital-signs-two-table-deal-with-northern-waters-casino-resort-in-michigan

FAQ

What is the news about?

The news is about Jackpot Digital Inc. signing a licensing agreement to install two Jackpot Blitz® dealerless poker ETGs at Northern Waters Casino Resort in Michigan.

How many new Jackpot Blitz® orders has the company received this year?

The company has received 38 new Jackpot Blitz® orders this year, representing a 58% increase in installations.

When is the next generation Jackpot Blitz® expected to be installed?

The next generation Jackpot Blitz® is expected to be installed in Q4 2023.

What is the company's expectation for new business growth?

The company's pipeline of new business is expected to grow into 2024 as they obtain licensing for new jurisdictions.