VANCOUVER, BC / ACCESWIRE / September 16, 2021 / Playgon Games Inc. (TSX-V:DEAL)(OTCQB:PLGNF)(Frankfurt:7CR) ("Playgon" or the "Company"), a propriety SaaS technology company delivering mobile live dealer technology to online gaming operators globally, is pleased to provide the following operational update for our shareholders.
"We have been working diligently since officially launching our Vegas studio in May, to ensure that our go-live strategy would be a success," said Darcy Krogh, CEO of Playgon Games. "In just four months of being operational we have on-boarded 14 operators and have seen an incredible response from players across all of our operator accounts. Our betting turnover exceeded $1,400,000 in the month of August, which is more than double July's numbers and continues to grow as additional operators are on-boarded and leveraging our truly exciting, unique and innovative VegasLounge live dealer product. We are witnessing our average bet size per hand increase significantly after initially focusing on smaller wagers to ensure that our platform scaled as designed and was optimized for success. We are now entering a new phase in our commercialization as we are introducing sizeable operators that should have a material impact on our top line."
Mr. Krogh continued, "Metrics for September show momentum in growth as we are almost at August's total number as of today in betting turnover, despite only half-way through the month. As we move into Q4, we expect to onboard more sizeable operators through our industry leading partners and continue with our strong growth trajectory."
As Playgon transitions from its initial launch phase into its growth phase, a number of important initiatives are underway:
- Increasing dealer staff and development staff;
- Building a remote development / engineering team to enable 24/7 development capability in different time zones;
- Ensuring redundancy and diversity across all critical performance elements including building a second studio;
- Increasing our table count from 15 to 25 live tables by year end;
- Developing new game content for the live dealer studio
Currently Playgon has a total of 14 operators live with player activity generating revenue for the Company, with an additional 16 in the queue at various stages of integration and user acceptance testing. The remaining 16 expected to be live by the end of 2021.
Playgon will hold its Annual General and Special Meeting of Shareholders on October 8th at 10:00 a.m. PST at its corporate offices in Vancouver. Further information regarding the meeting and participation will be included in its Mangement Information Circular, which has recently been mailed to shareholders.
About Playgon Games Inc.
Playgon Games Inc. (TSXV: DEAL / OTCQB: PLGNF / FSE: 7CR) 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 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
Virtus Advisory Group
Tel: (416)-644-5081
Email: info@virtusadvisory.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, 2020 and Management Discussion and Analysis for the year ended December 31, 2020 and other filings with Canadian securities regulators (www.sedar.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.
SOURCE: Playgon Games, Inc.
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