Playgon Games (TSX.V: DEAL) (OTC: PLGNF) (FSE: 7CR), a proprietary SaaS technology company delivering mobile live dealer technology to online gaming operators globally, is reporting on its financial results for Q3 2023, the three-month and nine-month periods ended Sept. 30, 2023. Highlights of the report include increased growth in player activity, which is viewed as a strong indicator for future revenue growth, and revenues of $436,926 (three month) and $1,138,323 (nine month) from the Live Dealer platform, which is a 38% year-over-year increase for the three-month period and a 69% year-over-year increase for the nine-month period. Operational highlights include several key performance indicators (“KPIs”), including wagering turnover for the three-month period coming in at $446 million compared to $396 million the previous quarter; the number of wagers placed, or betspots, totaling 9.3 million compared to the 10.2 million during the previous quarter; and average daily wagering turnover reported at $4.88 million compared to the previous quarter of $4.4 million, an 11% increase quarter over quarter.
In addition, the company reported that it plans a nonbrokered private placement of unsecured convertible debentures, projected to result in gross proceeds of up to C$5 million. According to the report, the Debentures are expected to mature on May 3, 2025, following closing of the offering, with each $1,000 debenture bearing simple interest at 10% per annum, calculated and paid quarterly. “We continue to see positive revenue growth in our Q3 supported by momentum in several KPI’s we track,” said Playgon Games CEO Darcy Krogh in the press release. “Management is confident we are on the right path with our current business opportunities along with our upcoming launch in Ontario and Latin America as we continue extend our reach globally.”
To view the full press release, visit https://ibn.fm/wudNS
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 multitenant gateway that allows online operators the ability to offer their customers innovative iGaming software solutions. Playgon’s 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, Playgon products are ideal turnkey solutions for online casinos, sportsbook operators, land-based operators, media groups and big database companies. For more information about the company, please visit www.Playgon.com.
NOTE TO INVESTORS: The latest news and updates relating to PLGNF are available in the company’s newsroom at https://ibn.fm/PLGNF
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