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Royal Wins Corporation (CSE: SKLL) ("Royal Wins" or the "Company") is pleased to announce that the Company has signed a Memorandum of Understanding ("MOU") to acquire Antics Gaming LLC ("Antics"), a Las Vegas, Nevada based developer of skill-based games for Android and iOS platforms.
The acquisition of Antics is the first in a series of expected acquisitions to build and grow the Royal Wins business model as described in its July 12, 2021 Non-Offering Prospectus and will be a significant building block in Company's global development strategy. It is anticipated that the purchase of Antics will include intellectual property, patent and trademark assets and assumption by Royal Win of Antics' ongoing working relationships with Samsung, Apple and Skillz Inc.
Subject to certain approvals and confirmations, Antics Founder and Principal, Becky Harris, will be an advisor and key resource to Company during the transition. Ms. Harris is the former Chair of the Nevada Gaming Control Board and a noted academic on virtual gaming, esports and sports betting. She will bring a significant level of experience to Royal Wins' knowledgebase in skill-based game development, intellectual property, and regulatory affairs.
"Acquiring an innovative game developer like Antics Games and its cutting-edge development teams will speed our integration of future gaming assets and represents a giant leap forward for Royal Wins," stated President and CEO, Peter Gan. Continuing, "And working with a creative force like Becky Harris will assist Royal Wins in remaining current with gaming trends and on top of the ever-evolving development landscape as we expand and diversify our portfolio of games."
Under the terms of the MOU, Royal Wins will secure a period of exclusive negotiation by way of a non-refundable deposit to be credited against the final acquisition terms. The Company anticipates completion of a Purchase and Sale agreement by the end of August 2021.
Becky Harris:
Becky Harris is a thought leader in the gaming and wagering sector. She is a Distinguished Fellow in Gaming and Leadership at the International Gaming Institute of the University of Nevada, Las Vegas and Adjunct Professor of Law at the Boyd School of Law, UNLV.
From 2014 to 2018, Ms. Harris served in the Nevada State Senate as chair of the Senate Education Committee and a member of the Senate Judiciary, Finance, Education, and Commerce, Labor & Energy Committees. As Chairwoman of the Nevada Gaming Board in 2019, she guided the Board through several controversial matters including the repeal of PASPA and the emergence of sports betting across the United States.
About Royal Wins
Royal Wins is an innovative digital games studio pioneering skill game wagering and betting on mobile casual games. Established in 2014, we design, develop, and operate real money wagering skill games, to disrupt and dominate the online gaming space such that all players of legal age can play and win life-changing jackpots and prizes on their skill instead of only on chance and odds. Our primary innovation and intellectual property centres around solving big data problems around skill gaming mechanics, algorithms pertaining to balancing cash jackpots, game difficulty modules, and maintenance of Return-to-Player (RTP) percentages.
Royal Wins has released a suite of pure skill mobile games on Android and iOS mobile/tablet platforms via their skill gaming app, the Kash Karnival.
Royal Wins is listed on the Canadian Securities Exchange under the ticker symbol SKLL.
For more information please contact:
Royal Wins Corporation
Nicholas Konkin
Communications Director
Phone: 1 647 249 9299, ext. 305
E-mail: ir@royalwins.com
Forward-Looking Statements
Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in the Company's filings with Canadian securities regulators. When used in this news release, words such as "will, could, plan, estimate, expect, intend, may, potential, believe, should," and similar expressions, are forward-looking statements.
Forward-looking statements may include, without limitation, statements regarding the Company's unaudited financial results and projected growth.
Although the Company has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to: dependence on obtaining regulatory approvals; investing in target companies or projects which have limited or no operating history and are subject to inconsistent legislation and regulation; change in laws; reliance on management; requirements for additional financing; competition; hindering market growth and state adoption due to inconsistent public opinion and perception of the medical-use and recreational-use marijuana industry and; regulatory or political change.
There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. As a result of these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events.
Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this release. Royal Wins Corporation disclaims any intention or obligation to update or revise such information, except as required by applicable law, and the Company does not assume any liability for disclosure relating to any other company mentioned herein.
No securities regulator or exchange has reviewed, approved, disapproved, or accepts responsibility for the content of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/92855
