Jackpot Digital Signs Five-Table Deal With Dominican Republic Casino Group

Rhea-AI Summary

Jackpot Digital Inc. has signed a licensing agreement with Norson Group S.R.L. to install five Jackpot Blitz Electronic Table Games in the Dominican Republic. The agreement awaits regulatory approval. Norson operates 160 sports betting locations in the region. CEO Jake Kalpakian highlights the opportunity for growth due to inflationary pressures and labor shortages in casinos, making automated solutions appealing. Norson’s CEO expressed confidence in the success of the installed ETGs.

Positive

• Signing of a licensing agreement with Norson Group for 5 Jackpot Blitz ETGs.
• Norson operates 160 sports betting locations, indicating a strong market presence.
• The deal positions Jackpot Digital to capitalize on labor shortages and a trend toward automation in the casino industry.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / September 22, 2022 / 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 it has signed a licensing agreement with Norson Group S.R.L., headquartered in Santiago, Dominican Republic ("DR"), to install five (5) Jackpot Blitz® Electronic Table Games ("ETGs") at properties throughout the DR. The licensing agreement is subject to obtaining the customary regulatory approvals.

Norson Group S.R.L., a company incorporated in the Dominican Republic, operates 160 sports betting locations across the Dominican Republic.

President & CEO Mr. Jake Kalpakian states, "We are excited to be working with Norson Group S.R.L., a well-known sports book operator with properties throughout the Dominican Republic. Poker has always worked well in tandem with sportsbooks and we see the opportunity to grow with Norson across the DR, starting with an initial order of five Jackpot Blitz™ ETGs."

Mr. Kalpakian continues "Casinos all over the world are experiencing inflationary salary pressures, combined with a significant shortage of dealer/casino employees, making our product more attractive than ever before. The Dominican Republic is no exception, and as a company we are uniquely positioned to take advantage of the macro trend toward automation in the casino industry. Through the innovative dealerless Jackpot Blitz® technology, casinos are quickly recognizing the benefits of more revenues by dealing more hands per hour while at the same time drastically reducing costs and eliminating operational/employee requirements all at once."

Leonardo Lantigua, (President and CEO) of Norson Group S.R.L., a representative of Star Sports which is one of the largest sports betting franchises in the Dominican Republic, states, "I am very glad to do business with Jackpot Digital, and also extremely confident that the Jackpot Blitz Electronic Table Games are going to be a resounding success here in the Dominican Republic."

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, obtaining the customary regulatory approvals for new customers, projected 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", "to be", "expect", "propose", "anticipate", "intend", "plan", "plans" "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.

SOURCE: Jackpot Digital Inc.

View source version on accesswire.com:
https://www.accesswire.com/716996/Jackpot-Digital-Signs-Five-Table-Deal-With-Dominican-Republic-Casino-Group

FAQ

What is the significance of Jackpot Digital's agreement with Norson Group S.R.L. on September 22, 2022?

The agreement allows Jackpot Digital to install five Jackpot Blitz Electronic Table Games in the Dominican Republic, expanding its market presence.

How does the licensing agreement with Norson Group S.R.L. impact Jackpot Digital's business prospects?

This agreement is expected to enhance Jackpot Digital's revenue potential as it taps into the growing market of automated gaming solutions in the region.

What is the stock symbol for Jackpot Digital Inc.?

The stock symbol for Jackpot Digital Inc. is JPOTF, listed on OTCQB.

What challenges does Jackpot Digital face with the new agreement in the Dominican Republic?

The agreement is subject to obtaining regulatory approvals, which may pose a risk to execution.