PLAYGON GAMES - Maker of VegasLounge Receives Ontario Gaming-Related Supplier License

Rhea-AI Summary

Playgon Games Inc. has been granted a license by the Alcohol and Gaming Commission of Ontario (AGCO) to supply iGaming and sports betting operators in Ontario with its mobile live dealer platform. Ontario's iGaming market reported $35.6 billion in wagers and $1.4 billion in gaming revenue in its first year, placing the province in the top five in North America. Playgon Games sees this as a major opportunity and plans to pursue the attractive Ontario market.

Positive

• Playgon Games granted license to supply Ontario operators with mobile live dealer platform
• Ontario's iGaming market reported $35.6 billion in wagers and $1.4 billion in gaming revenue in its first year

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• None.

Vancouver, British Columbia--(Newsfile Corp. - August 21, 2023) - Playgon Games Inc. (TSXV: DEAL) (OTC Pink: PLGNF) (FSE: 7CR) ("Playgon' or the "Company"), a SaaS technology company focused on delivering mobile live dealer technology to global online gaming operators, has been granted a license by the Alcohol and Gaming Commission of Ontario (AGCO), the regulatory agency responsible for the oversight of the modern open and regulated iGaming and sports betting market in Ontario.

The license will allow Playgon to supply Ontario approved iGaming and sports betting operators with its mobile focused live dealer platform from its state of the art broadcasting studio in Las Vegas, Nevada.

Having already secured interest in anticipation of receiving our license the Company is now able to move forward and partner with iGaming operators in this growing North American regulated jurisdiction to introduce our mobile focused live dealer technology (VegasLounge™) to local players in the Canadian province. Further announcements will be made once we go live.

This year, iGaming Ontario reported that Ontarians wagered about $35.6 billion (CAD) in the first year of the market, https://igamingontario.ca/en/news/ontario-emerges-one-north-americas-largest-igaming-markets-first-year, a massive figure for the debut of online gaming in the province. It resulted in approximately $1.4 billion in total gaming revenue over the period, a figure that places the province in the top five of all North American jurisdictions, according to iGaming Ontario.

Darcy Krogh, President and CEO of Playgon Games, said, "Receiving our supplier licence for Ontario is another major milestone for our company and we are extremely excited for the opportunity in this market. Not only is it our first entrance into North America for our mobile first live dealer technology, we have significant interest for our product in this market that we will announce in due course. Ontario has quickly become among the top 5 iGaming jurisdictions in North America and live dealer tables accounted for 32% of the revenue generated within the online casino vertical which makes it a very attractive market for us to pursue."

About Playgon Games Inc.

Playgon is a SaaS technology company focused on developing and licensing digital content for the growing iGaming market. The Company provides a multi-tenant gateway that allows online operators the ability to offer their customers innovative iGaming software solutions. Its current software platform includes Live Dealer Casino, E-Table games and Daily Fantasy Sports, which, through a seamless integration at the operator level, allows customer access without having to share or compromise any sensitive customer data. As a true business-to-business digital content provider, the Company's products are ideal turn-key solutions for online casinos, sportsbook operators, land-based operators, media groups, and big database companies. For further information, please visit the Company's website at www.playgon.com.

For further information, contact: Mike Marrandino, Director
Tel: (604) 722-5225
Email: mikem@playgon.com

Forward-Looking Statements

This release contains forward-looking statements. Forward-looking statements, without limitation, may contain the words believes, expects, anticipates, estimates, intends, plans, or similar expressions. Forward-looking statements are not guaranteeing of future performance. They involve risks, uncertainties and assumptions and actual results could differ materially from those anticipated. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Except for historical facts, the statements in this news release, as well as oral statements or other written statements made or to be made by Playgon, are forward-looking and involve risks and uncertainties. In the context of any forward-looking information please refer to risk factors detailed in, as well as other information contained in the Company's audited financial statements for the year ended December 31, 2022 and Management Discussion and Analysis for the year ended December 31, 2022 and other filings with Canadian securities regulators (www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements contained in this press release represents Playgon's current expectations. Playgon disclaims any intention and assumes no obligation to update or revise any forward-looking information, except if required by applicable securities laws.

Neither 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 release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/177854