- GLI-19 certification makes it possible for LOOT.BET to offer white-label solutions (skins) in a large number of countries, including those served through its Isle of Man license
- GLI-19 also satisfies the requirement under the white-label revenue-sharing agreement with HHRP Inc. for the Philippines announced last May
- B2B market present significant growth potential for LOOT.BET’s white-label applications, with minimal investment
MONTREAL, Aug. 04, 2022 (GLOBE NEWSWIRE) -- React Gaming Group Inc. (“React Gaming” or the “Corporation”) (TSXV: RGG, OTCQB: ITMZF) is pleased to announce that its wholly owned LOOT.BET subsidiary has received GLI-19 certification from Gaming Laboratories International, the leading provider of independent testing, certification and assessment services for the global gaming industry, confirming that the LOOT.BET esports online betting platform complies with the requirements of applicable technical standards.
“This is great news for React Gaming, as the GLI-19 certification opens a lot of doors in the B2B market and will allow us to offer our LOOT.BET white-label solution in a large number of countries with significantly fewer regulatory constraints,” said Leigh Hughes, CEO of React Gaming. “The certification basically confirms to countries that require GLI-19 that the LOOT.BET platform works within established technical standards.”
“Furthermore, GLI-19 was a requirement under our agreement with HHRP Inc. announced on May 17, 2022, which has now been fulfilled. We are currently negotiating the revenue-sharing portion of the agreement and working on closing the transaction in the coming months. This agreement would allow HHRP to operate a LOOT.BET white label solution in the Philippines, HHRP being one of only four companies holding online gaming licences in a country of more than 109 million people,” added Mr. Hughes.
The B2B market is part of LOOT.BET’s two-pronged growth strategy and has multiple benefits for the company, which will offer its platform as a white label solution to online betting providers with established customer bases around the world. Benefits include the absence of customer acquisition or marketing costs, minimal maintenance costs and the possibility of replicating the model in multiple markets. With the GLI-19 certification in hand, LOOT.BET will now aim to offer this new solution to its expanded network of Isle of Man licensed countries.
About LOOT.BET
LOOT.BET is a leading company in the esports betting sector, with a focus on live betting and online gaming and building an exceptional product for its 500,000+ registered users. Supported by a professional operational and software development team of over 50 employees, LOOT.BET is world-renowned both as an established and reliable esports betting platform and as a known supporter of the esports industry and a member of the Esports Integrity Commission. For more information, please visit LOOT.BET.
About React Gaming Group
React Gaming Group (formerly known as Intema Solutions Inc.) (TSXV: RGG) is a publicly traded holding company that stands at the forefront of the esports and iGaming industry. By investing in innovative technologies that enhance tournaments, teams and wagering, we provide our users with gaming platforms that produce non-stop action, exciting outcomes and unparalleled enjoyment. Through the use of intelligent data, we also connect our sponsors to robust communities within the rapidly evolving industry, ensuring maximum engagement and substantial reward. For more information, please visit us at reactgaming.ca and follow us on LinkedIn, Twitter, Instagram and YouTube.
Forward-Looking Statements
This news release may contain “forward-looking statements” within the meaning of applicable Canadian securities laws. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, and contingencies. These statements generally can be identified by the use of forward-looking words such as “may”, “should”, “will”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause future results, performance or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. The Corporation's statements expressed or implied by these forward-looking statements are subject to a number of risks, uncertainties, and conditions, many of which are outside of the Corporation's control, and undue reliance should not be placed on such statements. Forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding the Corporation’s activities, including: that the Corporation's assumptions in making forward-looking statements may prove to be incorrect; general adverse market conditions and competition; the inability to finance operations and/or obtain any future strategic investment necessary to implement new technologies; the inability to build a sustainable, conscientious company with a stronger presence online through new products in esports and gaming; the inability to obtain, or maintain, gaming license(s); and that market conditions related to the COVID-19 pandemic may negatively affect the outcome of the business or operations of the Corporation, including its results and financial condition. Except as required by securities law, the Corporation does not assume any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
CONTACT INFORMATION
REACT GAMING GROUP INC.
Leigh Hughes
1-514-861-1881
info@reactgaming.ca
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c1fe37d4-250d-41cd-ad81-73aca227c0dc
