Playgon Receives Nevada Regulator Order
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 Inc. (TSXV: DEAL) (OTC Pink: PLGNF) ha ricevuto un'ordinanza dal Nevada Gaming Control Board (NGCB) per interrompere le operazioni presso il suo studio di Las Vegas. L'azienda ha rispettato l'ordinanza ed ha sospeso tutte le attività presso lo studio. Questa interruzione è prevista avere effetti negativi significativi sul business e sui ricavi dell'azienda.
Nonostante le precedenti assicurazioni legali di conformità, Playgon ha ingaggiato ulteriori legali del Nevada per affrontare l'ordinanza. L'azienda sta esplorando opzioni per garantire una minima interruzione del servizio, incluso il piano di accelerare l'espansione delle operazioni dello studio in altre giurisdizioni. La decisione influisce su 79 dipendenti locali e le loro famiglie.
Playgon Games Inc. (TSXV: DEAL) (OTC Pink: PLGNF) ha recibido una orden del Nevada Gaming Control Board (NGCB) para detener las operaciones en su estudio de Las Vegas. La compañía ha cumplido con la orden y ha suspendido todas las actividades en el estudio. Esta interrupción se espera que tenga efectos adversos materiales en el negocio y los ingresos de la compañía.
A pesar de las anteriores garantías legales de cumplimiento, Playgon ha contratado a abogados adicionales en Nevada para abordar la orden. La empresa está explorando opciones para asegurar una mínima interrupción del servicio, incluyendo la aceleración de planes para expandir las operaciones del estudio a otras jurisdicciones. La decisión afecta a 79 empleados locales y sus familias.
Playgon Games Inc. (TSXV: DEAL) (OTC Pink: PLGNF)가 네바다 주 게임 관리 위원회(NGCB)로부터 라스베가스 스튜디오의 운영 중단 명령을 받았습니다. 회사는 이 명령을 준수하며 스튜디오에서의 모든 활동을 중단했습니다. 이 중단은 회사의 사업과 수익에 중대한 부정적 영향을 미칠 것으로 예상됩니다.
이전의 법적 준수 보장에도 불구하고, Playgon은 이 명령을 해결하기 위해 추가 네바다 법률 고문을 고용했습니다. 회사는 최소한의 서비스 중단을 보장하기 위한 방안을 모색하고 있습니다, 다른 관할권으로 스튜디오 운영 확장 계획을 가속화하는 것을 포함하여. 이 결정은 79명의 현지 직원과 그 가족에 영향을 미칩니다.
Playgon Games Inc. (TSXV: DEAL) (OTC Pink: PLGNF) a reçu une ordonnance du Nevada Gaming Control Board (NGCB) pour arrêter les opérations de son studio à Las Vegas. L'entreprise s'est conformée à l'ordonnance et a suspendu toutes les activités dans le studio. Cette interruption devrait avoir des effets négatifs significatifs sur les affaires et les revenus de l'entreprise.
Malgré les précédentes assurances légales de conformité, Playgon a engagé des avocats supplémentaires au Nevada pour traiter l'ordonnance. L'entreprise explore des options pour garantir une interruption minimale du service, y compris l'accélération des plans d'expansion des opérations du studio dans d'autres juridictions. Cette décision a un impact sur 79 employés locaux et leurs familles.
Playgon Games Inc. (TSXV: DEAL) (OTC Pink: PLGNF) erhielt eine Anordnung vom Nevada Gaming Control Board (NGCB), um den Betrieb in seinem Studio in Las Vegas einzustellen. Das Unternehmen hat der Anordnung entsprochen und alle Aktivitäten im Studio eingestellt. Diese Unterbrechung wird voraussichtlich wesentliche negative Auswirkungen auf das Geschäft und die Einnahmen des Unternehmens haben.
Trotz vorheriger rechtlicher Zusicherungen von Compliance hat Playgon zusätzliche rechtliche Unterstützung in Nevada engagiert, um die Anordnung zu behandeln. Das Unternehmen prüft Optionen, um eine minimale Serviceunterbrechung sicherzustellen, einschließlich der Beschleunigung von Plänen zur Erweiterung der Studiooperationen auf andere Gerichtsbarkeiten. Die Entscheidung betrifft 79 lokale Mitarbeiter und deren Familien.
- Exploring options to expand studio operations to other jurisdictions
- Commitment to resuming operations as soon as possible
- Forced to halt operations at Las Vegas studio
- Expected material adverse effects on business and revenues
- Potential loss of 79 local employees
- Disruption to services for clients
Vancouver, British Columbia--(Newsfile Corp. - July 26, 2024) - Playgon Games Inc. (TSXV: DEAL) (OTC Pink: PLGNF) (FSE: 7CR) ("Playgon" or the "Company"), a SaaS technology company delivering mobile live dealer technology to online gaming operators globally, has received an order from the Nevada Gaming Control board (NGCB) to halt operations at its Las Vegas studio. Effective immediately, the Company has complied with the order and will suspend all activities at our Las Vegas studio.
Since our inception, Playgon has operated with the highest standards of legal and regulatory compliance and will continue to do so as we move forward. Prior to commencing our operations, we initiated a thorough legal review conducted by a leading specialist in Nevada Gaming Law. The comprehensive legal opinion assured us that our business model was in full compliance with Nevada State Laws. It is important to emphasize that our business is exclusively outside the US and does not target Nevada or any U.S. state operators or players. The expert legal counsel advised that we were operating in a manner that did not fall under the State's gaming jurisdiction.
The Company has engaged additional Nevada legal counsel, specializing in Gaming Law, to address the order by the NGBC, and while our legal advisors maintain that our operations were within the bounds of the law, they have advised that challenging the NGCB's authority would be complex and unlikely to succeed in a timely manner.
This interruption is expected to result in material adverse effects on, among other things, the Company, its business and revenues. Management and the Board is conducting a review and assessment and the Company will provide further updates as they materialize.
Darcy Krogh, CEO of Playgon Games Inc. stated, "We are deeply disappointed by the NGCB's sudden decision, particularly given our history of operation and compliance in Nevada. The limited time frame provided by the NGCB has left us with no viable option to contest the order or seek a resolution without total disruption to our business for an extended period so we are forced to pursue other options for a studio location. Further, we are particularly distressed by the impact this decision will have on our 79 local employees and their families as a result of this order."
The Company is actively exploring all available options to ensure minimal disruption to our services. This includes accelerating our plans to expand our studio operations to other jurisdictions where we can maintain our quality of service and compliance standards. We are committed to resuming operations as soon as possible, ensuring that our clients continue to receive the high-quality service they expect from Playgon.
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, 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, 2023 and Management Discussion and Analysis for the year ended December 31, 2023 and other filings with Canadian securities regulators (www.sedarplus.ca). 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/217823
FAQ
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