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Cineplex Inc. and VRstudios Inc. Announce Partnership

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Cineplex Inc. and VRstudios Inc. Announce PartnershipReading Time: 4 minutes

 

Agreement Includes Equity Investment, Commercial Partnership and Expansion Opportunities. Company Plans to Roll-Out 30-40 Virtual Reality Installations in Canada

 

Cineplex, a leading entertainment and media company, announced a strategic partnership with VRstudios, Inc. (“VRstudios”), the largest provider of turnkey, location-based virtual reality solutions in the world. The agreement includes a commercial partnership and an investment by Cineplex to acquire a significant ownership interest in VRstudios. The financial terms were not disclosed.

In addition to installation opportunities at existing Cineplex-owned properties – including its theatre network and location-based entertainment (LBE) network – the agreement also provides broader expansion opportunities in North America and around the globe. Founded in 2014 and based in Seattle, Washington, VRstudios’ product solutions are sold in various configurations for untethered multiplayer, free-roaming, room-scale and warehouse-scale commercial VR attractions. It features eight unique VR experiences in environments ranging in size from 100 to 2,400 square feet.

With more than 65 systems deployed to customers in 15 countries, plus another 120 commercial VR attractions powered by its AMP management software, VRstudios has the largest global installation footprint today and provides virtual reality solutions to popular entertainment destinations including theme parks, arcades, amusement parks, family entertainment centres, casinos and movie theatre complexes. Cineplex has recently installed a VRstudios attraction at The Rec Room in South Edmonton, Alberta, and plans to open approximately 30-40 additional locations across its theatre and LBE networks in Canada by the end of 2021.

“We are not just deploying VR across our network, we are strategically investing in the market to create new revenue streams as well as critical mass and scale for growth. We are proud to be leading the way in the burgeoning location-based VR market,” said Ellis Jacob, President and CEO, Cineplex. “VRstudios’ product portfolio base has obvious application opportunities across the Cineplex ecosystem, and we are particularly excited about growth opportunities for Player One Amusement Group.”

One of North America’s leading providers of interactive video, redemption and amusement gaming equipment, Player One Amusement Group (P1AG) specializes in solution servicing and design for a wide range of customers in the theatrical exhibition vertical as well as community-based entertainment destinations such as bowling centres, restaurants, arcades, shopping centres and water parks. The agreement announced today creates opportunities for P1AG to work closely with VRstudios to manage the sale, support integration and maintenance of VRstudios’ portfolio of systems in North America.

“Cineplex is one of the world’s leading entertainment companies and we are honoured to be working in partnership with them to drive further innovation in the location-based VR marketplace,” said Kevin Vitale, Chief Executive Officer, VRstudios. “There is great synergy in our respective visions for scaling VR in commercial entertainment and the enterprise-wide strategy to make it happen.”

VRstudios offers a complete, customizable end-to-end virtual reality solution that includes an Attraction Management Platform™ for location-based entertainment businesses. Designed from the ground up, these systems facilitate amazing experiences which cannot be duplicated by in-home consumer virtual reality platforms. Emphasizing turnkey installation, easy-operation, training and support as well as owner profitability, the VRstudios solutions utilizes commercial-quality, patent-pending technology to offer ultimate virtual reality attractions.

Forward Looking Statements
This press release contains “forward-looking statements” within the meaning of applicable securities laws, such as statements concerning anticipated future events, results, circumstances, performance or expectations that are not historical facts. These statements are not guarantees of future performance and are subject to numerous risks and uncertainties, including those described in Cineplex’s Annual Information Form (“AIF”). Those risks and uncertainties include: adverse factors generally encountered in the film exhibition industry such as poor film product and unauthorized copying; risks associated with national and world events, including war, terrorism and international conflicts; natural disasters or extreme weather conditions; infectious diseases; changes in income tax legislation; and general economic conditions. In addition, these risks and uncertainties include: the ability to achieve the expected synergies and the timing of same; the effectiveness of integration efforts and risks related to the satisfaction of the conditions to closing the transaction; and the related financing arrangements, including future general economic and market conditions and the associated debt and equity capital markets. Many of these risks and uncertainties can affect our actual results and could cause our actual results to differ materially from those expressed or implied in any forward-looking statement made by us or on our behalf. All forward-looking statements in this press release are qualified by these cautionary statements. These statements are made as of the date of this press release and, except as required by applicable law, we undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. Additionally, we undertake no obligation to comment on analyses, expectations or statements made by third parties in respect of Cineplex, its financial or operating results or its securities.

About Cineplex:
A leading entertainment and media company, Cineplex (TSX:CGX) is a top-tier Canadian brand that operates in the Film Entertainment and Content, Amusement and Leisure, and Media sectors. As Canada’s largest and most innovative film exhibitor, Cineplex welcomes over 70 million guests annually through its circuit of 165 theatres across the country. Cineplex also operates successful businesses in digital commerce (CineplexStore.com), food service, alternative programming (Cineplex Events), cinema media (Cineplex Media), digital place-based media (Cineplex Digital Media), amusement solutions (Player One Amusement Group) and an online eSports platform for competitive and passionate gamers (WorldGaming.com). Additionally, Cineplex operates a location based entertainment business through Canada’s newest destination for ‘Eats & Entertainment’ (The Rec Room), and will also be opening new complexes specially designed for teens and families (Playdium) as well as exciting new sports and entertainment venues across Canada (Topgolf). Cineplex is a joint venture partner in SCENE, Canada’s largest entertainment loyalty program.

Proudly recognized as having one of the country’s Most Admired Corporate Cultures, Cineplex employs approximately 13,000 people in its offices across Canada and the United States. To learn more visit Cineplex.com or download the Cineplex App.

About VRstudios:
VRstudios is a pioneer and leader in delivering turn-key large-scale, multiplayer, free-roaming commercial VR attraction systems for the LBE industry. The company offers a product line of complete solutions that can be quickly installed and efficiently operated, VRstudios is a one-stop-shop that makes it easy for owners and operators to offer innovative virtual reality attractions to their visitors. VRstudios launched in 2014 and has shipped over 65 systems to 15 countries.

Source: Cineplex


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eCOGRA To Provide Alternative Dispute Resolution Service To Malta Operators

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Players at over 1,000 online gambling sites able to submit disputes to eCOGRA

 

The Malta Gaming Authority (MGA) has authorised eCOGRA, the independent testing laboratory, to make available its Alternative Dispute Resolution (ADR) service to players at certain MGA licensed online gambling operators.

eCOGRA’s fast and impartial dispute resolution service has been available free of charge to players for over 15 years as part of the organisation’s self-regulation activities, and since 2015 eCOGRA has been approved by the UK Gambling Commission to provide its ADR service to remote gambling operators licensed in the British market.

To date, over 10,000 disputes have been handled by eCOGRA, involving leading operators such as 888, White Hat Gaming, bwin.party, Sportingbet, Unibet, 32Red, Bet-at-home, Casino Rewards, Betway, Gamesys, Skill On Net and Mr Green.

Tex Rees, a Clear ADR Accredited Civil and Commercial Mediator, is in charge of eCOGRA’s dispute resolution service, which includes an experienced team committed to resolving most disputes within a week.

“All Malta licensed operators are now required, in terms of the MGA Player Protection Directive 2018, to provide their players with access to an impartial third party dispute resolution service. Since many of our multi-jurisdictional clients are licensed by the MGA, we’ve made available our ADR service to these operators. We know, from their perspective, how important it is that they can come to us for a full suite of compliance services”, Rees said.

Players can currently access eCOGRA’s dispute resolution services at 1,159 online gambling sites listed on www.ecogra.org.

 

ABOUT eCOGRA:
Founded fifteen years ago to establish and improve operational standards and player safety requirements in the online gambling space, eCOGRA has amassed a wealth of experience in implementing international best practice standards and requirements, and ensuring these are maintained through regular review and monitoring.
eCOGRA acts as a regulatory audit partner to over 100 multi-jurisdictional operators, software providers and other relevant service providers in the online gambling industry. The independent testing laboratory is staffed by a team of professional auditors with Big 4 auditing firm experience, information security experts, test engineers and responsible gambling specialists.
The company has been awarded the United Kingdom Accreditation Service (UKAS) ISO approval ISO/IEC 17025:2005 : General Requirements for the competence of testing and calibration laboratories for the United Kingdom, Sweden and Denmark, as well as ISO/IEC 17021-1:2015, which is a prerequisite for carrying out third-party ISO/IEC 27001 audits and accredited certifications of Information Security Management Systems (ISMS).


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Lucky Day Partners with the L.A. Clippers

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The app that loves winners awards one-of-a-kind gameday experiences to L.A. Clippers fans

 

Popular lifestyle app, Lucky Day, has joined forces with the L.A. Clippers in its first ever NBA team partnership. The collaboration between Lucky Day and the Clippers boasts an array of unique gameday experiences designed to provide Clippers fans a chance to add a little luck to their days.

Lucky Day offers its users the opportunity to play a set of daily scratchers, raffles, and lottery – 100% risk free. “We believe in giving everyone a chance to add a little luck to their day, and nothing makes us happier than to see the expressions on peoples’ faces when they win,” says Joshua Javaheri, CEO of Lucky Day. “We are thrilled to be a part of the Clippers family and look forward to the many winning moments that will occur throughout the season.”

Lucky Day and the L.A. Clippers share the common goal of creating an energetic, exceptional experience through a fan-first approach and a commitment to winning. “We are committed to giving Clippers fans the best experience possible every time they interact with our team, and especially when they attend our games,” said Scott Sonnenberg, Chief Global Partnerships Officer, L.A. Clippers. “This new partnership with Lucky Day will help us create memorable moments for Clippers fans at our games and extend the excitement to fans across Los Angeles.”

The partnership also includes gameday signage, digital and social media activations, hospitality elements and on-court fan promotions customized to engage fans.

 

ABOUT LUCKY DAY:
Lucky Day, number 1 app on the App Store and top 5 on Google Play, is a sweepstakes app allowing users to win money and prizes by conveniently playing a range of ad-sponsored scratchers, raffles, and lottery, daily. Lucky Day’s mission is to give everyone a chance to win up to $100,000 and have a lucky day, risk-free, because “we love winners”. Millions of dollars have been awarded with thousands of winners redeeming daily.

ABOUT L.A. CLIPPERS:
Led by Chairman Steve Ballmer, the L.A. Clippers in 2018-19 are competing in the franchise’s 49th season and 35th in Los Angeles. They recently extended a franchise record, completing their seventh consecutive winning season in 2017-18. The team has logged the NBA’s 5th-best record over the course of head coach Doc Rivers’ five-year tenure. The Clippers are committed to the city of Los Angeles and through the L.A. Clippers Foundation, provide resources and opportunities that make a positive difference toward leveling the playing field for youth in Southern California.

 

Source: Lucky Day


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Nomination Committee appointed for LeoVegas ahead of 2019 Annual General Meeting

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In accordance with the principles for appointment of the Nomination Committee of LeoVegas AB (publ) (“the Company” or “LeoVegas”) adopted by the Annual General Meeting on 29 May 2018, the Nomination Committee shall consist of five members appointed by the four largest shareholders as per 30 September 2018. The fifth member shall be the Chairman of the Board.

Based on the above, the Nomination Committee ahead of the 2019 Annual General Meeting has been determined to consist of the following persons, who together represent approximately 29% of the number of shares and votes in the Company as per 30 September 2018:

  • Joachim Spetz, representing Swedbank Robur Fonder
  • Anders Fast, Nomination Committee chair, representing Gustaf Hagman
  • Dan-Alp Lindberg, representing Robin Ramm-Ericson
  • Erik Sjöström, representing Skandia Fonder
  • Mårten Forste, Chairman of the Board

The Nomination Committee’s recommendations will be presented in the Notice of the 2019 Annual General Meeting as well as on the Company’s website: www.leovegasgroup.com.

Shareholders who wish to submit proposals to the Nomination Committee may do so by email to ir@leovegas.com. In order for the Nomination Committee to be able to consider a proposal, it must submitted well in advance of the Annual General Meeting, but by 1 March 2019 at the latest.

LeoVegas’ Annual General Meeting will be held in Stockholm on 29 May 2019.

 

About the LeoVegas mobile gaming group:
LeoVegas’ passion is “Leading the way into the mobile future”. LeoVegas is Sweden’s premier GameTech company and is at the forefront of using state-of-the-art technology for mobile gaming. A large part of this success can be credited to an extreme product and technology focus coupled with effective and data-driven marketing. Technology development is conducted in Sweden, while operations are based in Malta. LeoVegas offers casino, live casino and sports betting, and operates two global and scalable brands – LeoVegas and Royal Panda – as well as a number of local brands in the UK. The Company’s shares are listed on Nasdaq Stockholm.


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