Jackpot Digital Signs Master Agreement with Leading U.S. Multistate Casino Operator Penn Entertainment Inc.
Jackpot Digital Inc. has signed a Master Services Agreement with PENN Entertainment Inc., facilitating the installation of Jackpot Blitz® electronic table games in PENN's casinos across North America. This partnership will enable Jackpot to earn a share of revenues from each installation on a recurring monthly basis, with the first orders expected to be delivered in early 2023, pending regulatory approvals. The agreement follows a surge in demand for Jackpot's gaming products, reflecting a broader shift towards automation in the casino industry.
- Master Services Agreement with PENN Entertainment represents a significant business development.
- Expected recurring revenue from Jackpot Blitz® installations across PENN's 43 properties.
- Increased demand for Jackpot products post-pandemic aligns with industry trends towards automation.
- None.
VANCOUVER, BC / ACCESSWIRE / December 16, 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 Master Services Agreement ("Agreement") with PENN Entertainment Inc., the largest regional gaming operator in the United States with 43 properties in 20 states ("PENN"). The Agreement sets the terms for all future installations of the Company's Jackpot Blitz® ETGs into PENN's casino gaming facilities located throughout North America on the basis of Jackpot earning a share of revenues from each Jackpot Blitz® installation on a recurring monthly basis.
Jackpot expects the delivery of its first PENN orders to take place during the early part of 2023, subject to Jackpot obtaining the customary regulatory approvals.
President & CEO of Jackpot Digital, Mr. Jake Kalpakian, states, "Since the post pandemic re-opening of business, the demand for our Jackpot Blitz® tables has grown significantly. This is attributable to a strong macro-trend toward automation in the casino industry. We are excited to begin a new partnership with PENN as we work together to bring entertaining and engaging gaming experiences to casino players across North America."
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 Jackpot's future plans, the obtaining of customary regulatory approvals, projected or proposed 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", "expects", "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.
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https://www.accesswire.com/732136/Jackpot-Digital-Signs-Master-Agreement-with-Leading-US-Multistate-Casino-Operator-Penn-Entertainment-Inc
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