Brief: Spiffbet Signs LoI To Invest In Game Studio Focused On The Latam Markets
15/10/2019 07:55
Oct 15 (Reuters) - Spiffbet AB SPIFF.ST :
* SPIFFBET HAS SIGNED A LETTER OF INTENT TO INVEST IN A GAME
STUDIO FOCUSED ON THE LATAM MARKETS
* JOINT VENTURE WILL OPERATE UNDER NAME COPACABANA GAMING
* SPIFFBET AND NGT INTERACTIVE WILL HOLD 45% EACH IN JOINT
VENTURE
AND STAFFAN CNATTINGIUS WILL HOLD 10%
* SPIFFBET WILL INJECT EUR 225,000 OVER A PERIOD OF 20
MONTHS IN
ORDER TO BOOST EXPANSION FURTHER
* STAFFAN CNATTINGIUS IS INTENDED TO BE APPOINTED CEO OF
JOINT
VENTURE AND WILL BE TAKING POSITION AS CCO IN SPIFFBET GROUP.
* IF AND WHEN CONCLUDED PROPOSED JOINT VENTURE WILL SEE
SPIFFBET
INVEST CONSIDERABLE RESOURCES IN TERMS OF SALES CAPACITY,
TECHNOLOGICAL PLATFORM AND SHARING KNOW-HOW
* FORECASTED SALES OF COPACABANA GAMING FOR 2019 AMOUNTS TO
EUR
75,000
* COPACABANA GAMING IS PRIMARILY DEVELOPING GAMES AIMED AT
LATIN
AMERICAN MARKETS
* COMPANY EXPECTS TO BE BREAKEVEN ON A MONTHLY BASIS DURING
2020
Source text for Eikon: ID:nWkrsrf9W
Further company coverage: SPIFF.ST
(Gdansk Newsroom)
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