Playgon Launches US Strategy with Engagement of Duane Morris LLP

Rhea-AI Summary

Playgon Games Inc. (OTCQB: PLGNF) announces its entry into the US market by engaging Duane Morris LLP for licensing its Live Dealer technology in New Jersey, Pennsylvania, and Michigan. This strategic move follows the growing positive sentiment towards legalized online gambling in the US, which is projected to exceed $12.9B by 2025. Playgon aims to capitalize on the anticipated demand for its mobile-focused casino games, including Roulette, Baccarat, and Blackjack, within the expanding iGaming sector.

Positive

• Engagement of Duane Morris LLP positions Playgon for successful licensing in the US.
• Live Dealer technology expected to meet high demand as iGaming projections exceed $12.9B by 2025.
• Strategically targeting three states (New Jersey, Pennsylvania, Michigan) where iGaming is legal.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / March 23, 2021 / Playgon Games Inc. (TSXV:DEAL)(OTCQB:PLGNF)(FRA:7CR) and/or its subsidiaries ("Playgon" or the "Company"), a technology company focused on delivering mobile live dealer technology to online gaming operators, is pleased to announce that in response to the rapid shift in positive sentiment surrounding legalized betting in the United States and significant interest in our live dealer technology that we have received to date, Playgon has initiated its US strategy by engaging Duane Morris LLP to represent the Company in its application process to license its Live Dealer technology for the US market.

iGaming and Sport Betting in the US is expected to exceed $12.9B in total addressable market size by 2025 as more and more US States begin to legalize online gambling.¹ The US currently has 5 States where iGaming is legalized with several more States currently considering legislation that would see this market expand further. Live Dealer currently represents one of the fastest growing segments of the iGaming casino market globally expected to grow at a 60% CAGR by 2023 to $8B in gross revenue.²

Playgon will submit applications in three (3) US States where iGaming is legal - New Jersey, Pennsylvania and Michigan. Upon receiving the license, Playgon will be able to license and operate its proprietary Live Dealer technology and expects to formalize licensing deals with gaming operators in each State. Live Dealer technology is currently offered in limited capacity in US States that offer iGaming, the Company anticipates considerable demand for its mobile focused Live Dealer casino games which include Roulette, Baccarat and Blackjack.

"The US has quickly become a blue sky opportunity for the Company and we have elected to enter the US much faster than initially anticipated," said Darcy Krogh, CEO of Playgon Games. "We are now in the process of pursuing licenses in New Jersey, Pennsylvania and Michigan for our Live Dealer technology and are confident that Duane Morris will successfully guide us through the process. In tandem, we will remain in active conversations with operators throughout the US to increase interest and opportunities while also focusing on going live and developing business in the regulated markets we are currently approved in."

About Duane Morris LLP

Duane Morris LLP, a law firm with more than 800 attorneys in offices across the United States and internationally, is asked by a broad array of clients to provide innovative solutions to today's legal and business challenges.

About Playgon Games Inc.

Playgon Games Inc. (TSXV: DEAL / OTCQB: PLGNF / FSE: 7CR) is a 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 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.

Playgon Games Inc.

Per "Darcy Krogh"
Darcy Krogh, President and CEO

For further information, contact:

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

Virtus Advisory Group
Tel: (416)-644-5081
Email: info@virtusadvisory.com

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.

¹ Vixo Gambling Compliance
² www.h2gc.com

SOURCE: Playgon Games, Inc.

View source version on accesswire.com:
https://www.accesswire.com/636899/Playgon-Launches-US-Strategy-with-Engagement-of-Duane-Morris-LLP

FAQ

What is the significance of Playgon's engagement with Duane Morris LLP?

Duane Morris LLP will guide Playgon through the US licensing process for its Live Dealer technology, key to entering the lucrative iGaming market.

What states is Playgon targeting for its Live Dealer technology licensing?

Playgon is targeting New Jersey, Pennsylvania, and Michigan for licensing its Live Dealer technology.

How large is the projected market for iGaming in the US?

The US iGaming market is projected to exceed $12.9B by 2025.

What types of games will Playgon offer with its Live Dealer technology?

Playgon plans to offer mobile-focused Live Dealer casino games including Roulette, Baccarat, and Blackjack.