Jackpot Digital Inc Stock Price, News & Analysis

Jackpot Digital Inc. has successfully completed the spinout of its iGaming assets to Yo Eleven Gaming Inc. on November 4, 2021. This strategic move, executed through a Plan of Arrangement under British Columbia's Business Corporations Act, aims to enhance both companies' growth potential. Jackpot shareholders will receive one Yo Eleven share for every five Jackpot shares held as of November 1, 2021. This transaction simplifies the Jackpot brand and aligns both organizations for future opportunities, as stated by CEO Jake Kalpakian.

Jackpot Digital Inc. has received final approval from the Supreme Court of British Columbia for the spinout of its online gaming assets to its subsidiary Yo Eleven Gaming Inc.. Shareholders will receive one Yo Eleven common share for every five Jackpot shares held, with the record date set for November 1, 2021. The ex-distribution date is October 29, 2021. Additionally, Jackpot issued 124,967 common shares at $0.28 each to settle $34,990.96 in accrued interest to debenture holders, subject to a hold period expiring December 24, 2021.

Jackpot Digital Inc. has received a Letter of Intent from a Midwestern US casino to trial five Jackpot Blitz^TM electronic table games (ETGs) for ninety days, pending regulatory approvals. CEO Jake Kalpakian highlighted growing interest in their ETGs, stating that they aim to navigate the licensing process to expand into new markets. The company is enhancing its licensing efforts to optimize market entry strategy. However, there are uncertainties regarding the trial period's success and the regulatory approvals needed.

Jackpot Digital Inc (OTCQB:JPOTF) announced progress on its strategic Spinout of online gaming software assets to its subsidiary, Yo Eleven Gaming Inc. Following approvals from the TSX Venture Exchange and the Supreme Court of British Columbia, Jackpot plans to distribute one Yo Eleven Share for every five common shares held by non-dissenting shareholders. The final approval, expected at the Annual General and Special Meeting on September 16, 2021, requires a two-thirds majority vote. Detailed information will be made available on Jackpot's website on August 16, 2021.

Jackpot Digital Inc. has announced the fulfillment of orders for five additional Jackpot Blitz^TM electronic poker tables (ETGs), marking a significant step towards recovery from the COVID-19 pandemic. The first table will be installed on Carnival's Discovery Princess, while two will be deployed on Royal Caribbean ships, a first for the brand. The company aims for growth, focusing on enhancing infrastructure to support increased demand in the regulated land-based casino market.

Jackpot Digital Inc. has scheduled an annual general and special meeting for September 16, 2021, to discuss resolutions regarding the proposed spinout of its online gaming software assets to Yo Eleven Gaming Inc. Shareholders will receive one Spinco share for every five Jackpot shares. The record date for voting is confirmed as July 21, 2021, but a new record date for share distribution will be established post-meeting approval. The spinout closure is anticipated around October 4, 2021, pending necessary approvals. Detailed information will be provided in an information circular sent to shareholders.

Jackpot Digital Inc. (OTCQB:JPOTF) announced that shareholders should note the record date for receiving Spinco shares as a dividend is July 21, 2021, with ex-dividend trading starting July 20, 2021. Spinco, named Yo Eleven Gaming Inc., will have a board that includes Howard Blank, a seasoned executive in the gaming sector. Jackpot aims to launch Yo Eleven this Fall, offering unique iGaming and sports betting options. The company specializes in electronic table games and mobile gaming for the cruise and regulated casino industries.

Jackpot Digital Inc. announced that Soboba Casino Resort in Southern California has increased its order of Jackpot Blitz™ electronic table games from two to six, establishing a fully automated digital poker room. This move reflects confidence in Jackpot's innovative gaming solutions and signifies potential growth opportunities as the gaming industry recovers. President and CEO Jake Kalpakian highlighted plans to expand their land-based presence and continue innovating in the sector.

Jackpot Digital Inc. (OTCQB:JPOTF) announced significant news regarding its largest customer, Carnival Corporation, which resumed cruise operations from Miami on July 4, 2021. This restart indicates a revival in gaming activities on cruise ships, where Jackpot's electronic table games (ETGs) are present. CEO Jake Kalpakian anticipates immediate revenue benefits as the company expands its presence in both cruise and land-based casinos. Jackpot has also acquired assets from 52 Gaming LLC, adding more clients to its portfolio.