PLAYGON GAMES INC - PLGNF STOCK NEWS

Playgon Games Inc. (TSXV: DEAL) (OTC Pink: PLGNF) has received an order from the Nevada Gaming Control Board (NGCB) to halt operations at its Las Vegas studio. The company has complied with the order and suspended all activities at the studio. This interruption is expected to have material adverse effects on the company's business and revenues.

Despite previous legal assurances of compliance, Playgon has engaged additional Nevada legal counsel to address the order. The company is exploring options to ensure minimal service disruption, including accelerating plans to expand studio operations to other jurisdictions. The decision impacts 79 local employees and their families.

Playgon Games, a SaaS technology company, announced that its SwinttLive product won the prestigious EGR B2B award for Live Casino Supplier of the Year. This accolade, recognizing excellence in the gaming industry, highlights Playgon's advanced live dealer technology used by Swintt, a Malta-based B2B online gaming provider. The award was presented at the EGR B2B Awards on June 13, 2024, in London. Playgon's CEO, Darcy Krogh, and Swintt's CEO, David Mann, acknowledged the innovative partnership and technological expertise that led to this achievement. This award underscores Playgon's role in enhancing live casino solutions globally.

Playgon has announced a new agreement with Estonia-based Hub88, enhancing the distribution of its mobile live dealer technology. Playgon's VegasLounge(TM) games will now be accessible through Hub88's global operator network, leveraging their single API integration platform. This partnership aims to broaden Playgon's reach and provide Hub88's operators and players with new, high-quality gaming options. According to Playgon CEO Darcy Krogh, this move will significantly expand their global presence. Hub88, with its advanced back-office tools and real-time performance tracking via a mobile app, is excited to include Playgon's offerings in their portfolio.

Playgon Games has released its financial and operational results for Q1 2024, showing a 20% decline in revenue to $230,289 and a 12% increase in net loss to $4.49 million, primarily due to increased interest expenses and a key operator ceasing operations. The company reported a 30% decrease in total wagering turnover to $235 million. However, excluding the defunct operator, remaining operators saw a 65% increase in wagering turnover. Playgon completed 8 customer integrations and has 25 more in various stages. The company is also entering new markets in Ontario and Italy, expecting significant growth in Q3 2024.

Playgon Games Inc. reports its 2023 financial and operational highlights, showcasing an increase in revenues, total wagering turnover, and betspots. Despite a net loss, the company is focusing on market expansions and product enhancements to drive future growth. With successful integrations and certifications, Playgon aims to tap into lucrative markets like Ontario, LATAM, and Italy. The company's focus on product development and player engagement underscores its commitment to long-term success.