Jackpot Digital Signs Casino Cosmos in Armenia

Rhea-AI Summary

Jackpot Digital Inc. (OTCQB:JPOTF) announced a licensing agreement with Casino Cosmos in Tsaghkadzor, Armenia, to install two Jackpot Blitz™ Electronic Table Games. This agreement is contingent upon obtaining regulatory approvals. CEO Jake Kalpakian emphasized that each new table enhances recurring revenue while improving the gaming experience for consumers. Casino Cosmos expressed enthusiasm for the installation, noting the advanced features of Jackpot Blitz™. The company focuses on multiplayer gaming products and backend tools for the regulated casino industry.

Positive

• Licensing agreement with Casino Cosmos enhances market presence.
• Installation of Jackpot Blitz™ ETGs expected to generate recurring revenue.
• CEO highlights momentum in land-based casino business.

Negative

• Agreement subject to regulatory approvals could delay implementation.

VANCOUVER, BC / ACCESSWIRE / November 16, 2021 / Jackpot Digital Inc. (the "Company" or "Jackpot") (TSXV:JJ)(TSXV:JJ.WT.A)(TSXV:JJ.WT.B)(TSXV:JJ.WT.C)(OTCQB:JPOTF)(Frankfurt & Berlin Exchanges:LVH3). Jackpot Digital is pleased to announce that it has signed a licensing agreement with Casino Cosmos located in Tsaghkadzor, Armenia, to install two of the Company's Jackpot Blitz™ Electronic Table Games ("ETGs"). Tsaghkadzor is a spa town and urban municipal community, as well as one of the most popular health resorts in Armenia, located north of the capital Yerevan. The licensing agreement is subject to obtaining the customary regulatory approvals.

President & CEO Mr. Jake Kalpakian states "We are proud to welcome Casino Cosmos to our steadily growing roster of clients. Our Jackpot Blitz™ ETG will provide guests of Cosmos a stunning, live, interactive and engaging poker experience. Every new table we deploy adds recurring revenue to Jackpot and our casino customers."

Further Mr. Kalpakian continues, "Momentum in our land-based casino business continues to build. Jackpot Blitz™ is an easy choice for casinos looking to offer poker in an exciting, fun, and safe manner. The protective hygienic measures are also an advantage in today's world, so it is easy to see why casinos, such as Casino Cosmos, have selected Jackpot Blitz™ as their poker offering of choice".

Casino Cosmos' Director & GM, Mr. Vigen Harutyunyan, comments "We are very excited to install Jackpot Blitz™ onto our casino floor. Jackpot Blitz™ is a beautiful gaming table with a stunning, bright, colorful, high resolution touch screen. Players can bend their cards on the screen which is one of many details that bring the game to life on this ETG. We expect this will be a big hit with our patrons."

About Jackpot Digital Inc.

Jackpot Digital Inc. is a leading electronic table games manufacturer for the cruise ship industry and regulated casino industry. The Company specializes in multiplayer gaming products, including poker and casino games, which are complemented by a robust suite of backend tools for operators to efficiently control and optimize their gaming 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 future plans, 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", "expect", "propose", "anticipate", "intend", "plan", "estimate", 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, and/or the customary regulatory approvals for this transaction may not be obtained.

SOURCE: Jackpot Digital Inc.

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FAQ

What is the significance of Jackpot Digital's licensing agreement with Casino Cosmos?

The licensing agreement marks an expansion for Jackpot Digital, allowing them to install their Jackpot Blitz™ ETGs, which enhances market presence and expected recurring revenue.

When was the licensing agreement with Casino Cosmos announced?

The licensing agreement was announced on November 16, 2021.

What is the expected impact of the Jackpot Blitz™ ETGs on Casino Cosmos?

The Jackpot Blitz™ ETGs are expected to enhance the gaming experience for patrons, driving engagement and potentially increasing casino revenues.

What is the stock symbol for Jackpot Digital?

The stock symbol for Jackpot Digital is JPOTF, traded on the OTCQB.

What are the risks associated with the licensing agreement with Casino Cosmos?

The main risk is that the agreement is subject to customary regulatory approvals, which could delay the installation and revenue generation.