Global Daily Fantasy Sports Aquire Playgon Interactive
Global Daily Fantasy Sports has announce that it has executed a definitive share purchase agreement with Playgon Interactive and its shareholders pursuant to which Global will acquire all of the issued and outstanding common shares in the capital of Playgon Interactive in exchange for equity in common shares in the capital of Global.
Playgon, a private B.C. corporation, is a leading technology innovator in the gaming market that has developed a suite of products that bring the fun and entertainment of casinos to casino players, everywhere via their unique and proprietary mobile first interface and the traditional desktop medium.
Playgon’s value proposition offers the proven appeal of physical casinos, with a suite of interactive live dealer games that appeal to players in a very personal way by giving real human interaction between dealers and players.
Global will purchase the outstanding shares of Playgon for a purchase price of $9,500,000, payable by the issuance of 63,333,333 common shares in the capital of Global (“Common Shares”) at an ascribed price of $0.15 per share. On closing, the only indebtedness of Playgon will be $500,000 of short-term debt and $1,321,250 of long-term debt.
“This acquisition of Playgon brings to Global a cutting-edge technology that I am very excited about and adds another unique product to our portfolio of B2B content. Playgon’s proprietary technology is flexible and applicable to both real money and social gaming markets.” Darcy Krogh, CEO of Global, states: “Live Casino is the innovation that best compliments the growth of online casino gaming. Technological advancements, increased connectivity, mobile gaming, along with positive regulations in the industry continues to open up new markets and fuel this online casino growth.”