makinezmoney
3 years ago
$SNIPF: Fantastic NEWS.... Ballys takes 9% Stake today !
Now at 0.19
Bally’s Corporation to Purchase Minority Stake in Snipp Interactive
Additional commercial agreement includes integration of the SnippLOYALTY platform into Bally’s physical and digital properties
April 12, 2022 10:30 AM Eastern Daylight Time
VANCOUVER, British Columbia--(BUSINESS WIRE)--Snipp Interactive Inc. (“Snipp”) (TSX-V: SPN; OTCPK: SNIPF), a global provider of digital marketing promotions, rebates, and loyalty solutions, today announced that a subsidiary of Bally’s Corporation (“Bally’s”) (NYSE: BALY) has signed an agreement to invest US $5,000,000 in Snipp (the “Investment”). As part of the Investment, Bally’s will be entitled to nominate one director to Snipp’s board of directors, which is expected to be increased in size to five directors. Bally’s will also be provided with a right of first refusal in respect to any offer to purchase all or substantially all of Snipp’s assets received by Snipp from any competitor of Bally’s. Completion of the Investment is subject to the approval of the TSX Venture Exchange (“TSXV”) as well as the satisfaction of other customary closing conditions. Following completion of the Investment, Bally’s is expected to own approximately 9% of the issued and outstanding common shares of Snipp, having subscribed for 25,000,000 common shares of Snipp at US $0.20 per share (CAD $0.25 per share)* as part of the Investment. * Bank of Canada closing FX Rate on April 11, 2022
“Our acquisition of Gambit was intended as a way to better align ourselves with the Gaming world. Now, only a couple of months later, we’re entering a deep relationship with Bally’s. We welcome their presence on our board and look forward to tapping their deep expertise in this high-growth industry.”
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Bally’s and Snipp will also enter into commercial agreements (collectively, the “Commercial Arrangements”) whereby Bally’s will become Snipp’s exclusive gaming partner for Snipp’s loyalty gaming platform (“Gambit”), recently acquired in connection with Snipp’s February 22, 2022 acquisition of Gambit Rewards, Inc.
As part of the Commercial Arrangements, Bally’s will also receive a three-year term license of the SnippLOYALTY software platform at arm’s length rates, intended for implementation across Bally’s physical and online properties. Work will begin on the first two deployment locations in the second quarter of 2022. In addition, Bally’s will be granted an option to license the source code for the specific version or versions of the SnippLOYALTY software platform actually implemented in any of Bally’s properties for a price of US$10,000,000.
“Bally’s is one of the most forward-thinking companies in the gaming industry and their investment illustrates the value that they see in SnippLOYALTY as well as our SnippCARE customer acquisition, retention, and engagement platform,” said Atul Sabharwal, Founder & CEO of Snipp Interactive. “Our acquisition of Gambit was intended as a way to better align ourselves with the Gaming world. Now, only a couple of months later, we’re entering a deep relationship with Bally’s. We welcome their presence on our board and look forward to tapping their deep expertise in this high-growth industry.”
“Working together with Snipp furthers our strategic goals around omnichannel integration with well-established technology that can combine rewards platforms across the Bally’s brand and thereby provide our customers with a seamless user journey,” said Adi Dhandhania, Chief Operating Officer of Bally’s Interactive, North America.
As part of the deal, Snipp will also license certain free-to-play games and trademarks from Bally’s for inclusion in the Gambit Rewards platform. Gambit free-to-play tokens, now available in 48 states, are offered as a point redemption option through participating loyalty sites. Bally’s members will soon have access to Gambit’s unique free-to-play mode and Gambit members will soon be able to redeem their Gambit Prize Tokens in the form of Bally’s loyalty points at arm’s length rates.
Launched in 2019 and acquired by Snipp in 2022, Gambit Rewards is a customer network that offers a ground-breaking approach to both online gaming and loyalty programs. Gambit converts brand rewards points into risk-free online gaming and sports betting. Users can play for actual cash winnings and other prizes without risking any real money. This system offers more choices for consumers and unlocks some of the US $100B of cumulative value that is trapped in unused loyalty points.
“With 14 casinos, a racetrack, and digital sports betting properties across the country, Bally’s is the perfect partner to power Gambit’s Loyalty Gaming platform, and we look forward to revealing the newly designed and co-branded version of the platform in the near future,” said Richard Pistilli, Founder & CEO of Gambit Rewards. “Our ability to deliver a proprietary gaming experience to consumers in nearly every state will help to expand Bally’s presence across the US.”
As part of the Commercial Arrangements, Gambit will include Bally’s branding, feature Bally’s free-to-play games, and connect Bally’s loyalty points with Gambit’s Play Tokens. Shortly after closing, the parties expect to commence on a rebranding exercise of the existing Gambit Rewards platform.
The shares of Snipp purchased by Bally’s as part of the Investment will be subject to a four month and one day hold period under Canadian securities laws and the policies of the TSXV. No finder’s fee is payable in connection with the Investment. The proceeds of the Investment will be used by Snipp for sales & marketing and general working capital purposes.
About Snipp:
Snipp Interactive Inc. (TSX-V: SPN; OTCPK: SNIPF) is a leading Platform-as-a-Service (PaaS) company in the global loyalty and promotions sector. Snipp’s proprietary and modular SnippCARE (Customer Acquisition, Retention & Engagement) Platform allows its marquee list of Fortune 500 clients and world-class agencies and partners to use various modules of the Platform to run long-term and short-term programs and promotions, while continually generating and capturing unique zero party data that is invaluable in providing insights to drive sales. SnippCHECK, the Platform’s Receipt Processing Module has established itself as the clear industry leader and standard by powering a large majority of all receipt-based promotions in North America. SnippLOYALTY, the Platform’s full scale modular loyalty engine allows clients the flexibility of deploying any/all aspects of a standard loyalty program on a case by case basis. SnippREWARDS, the Platform’s modular catalogue of digital and physical rewards provides clients with global and easily deployable access to an extensive catalogue of digital and physical rewards. SnippWIN, the Platform’s gaming module solves for the implementation and compliance difficulties of offering games of chance and skill on a global basis, and allows for the global deployment and administration of legally compliant games of chance and skill. For more information, visit Snipp’s website at www.snipp.com.
Snipp is headquartered in Vancouver, Canada with a presence across the United States, Canada, Ireland, Europe, and India. Snipp is publicly listed on the TSXV in Canada and is also quoted on the OTC Pink marketplace under the symbol SNIPF.
About Gambit Rewards
Gambit is a consumer network that integrates loyalty programs with online gaming & sports betting in America. Part of Snipp Interactive Inc. (TSX-V: SPN; OTCPK: SNIPF), Gambit’s platform enables consumers to convert unused loyalty points from across rewards programs into digital play tokens, which can then be used to collect real cash rewards or other prizes from free-to-play games. For more information, visit www.gambitrewards.com.
About Bally’s Corporation
Bally’s Corporation is a global casino-entertainment company with a growing omni-channel presence of Online Sports Betting and iGaming offerings. It currently owns and manages 14 casinos across 10 states, a horse racetrack in Colorado and has access to OSB licenses in 17 states. It also owns Gamesys Group, a leading, global, online gaming operator, Bally’s Interactive, a first-in-class sports betting platform, Monkey Knife Fight, the fastest growing daily fantasy sports site in North America, SportCaller, a leading, global B2B free-to-play game provider, and Telescope Inc., a leading provider of real-time fan engagement solutions.
With approximately 10,000 employees, Bally’s casino operations include more than 15,800 slot machines, 500 table games and 5,300 hotel rooms. Upon closing the previously announced Tropicana Las Vegas (NV) transaction, as well as completing the construction of a land-based casino near the Nittany Mall in State College, PA, Bally’s will own and manage 16 casinos across 11 states. Its shares trade on the New York Stock Exchange under the ticker symbol "BALY."
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this press release constitute "forward-looking information" as such term is defined in applicable Canadian securities legislation. The words "may," "would," "could," "should," "potential," "will," "seek," "intend," "plan," "anticipate," "believe," "estimate," "expect" and similar expressions as they relate to Snipp, TSXV approval of the Investment, satisfaction of the conditions precedents in connection with the Investment, the completion of the Investment, the entering into and performance of the Commercial Arrangements, and the expected benefits of the Investment and the Commercial Arrangements, are intended to identify forward-looking information. All statements other than statements of historical fact may be forward-looking information. Such statements reflect Snipp current views and intentions with respect to future events, and current information available to Snipp, and are subject to certain risks, uncertainties and assumptions. Material factors or assumptions were applied in providing forward-looking information, including: TSXV approval of the Investment, satisfaction of the conditions precedent in connection with the Investment, the completion of the Investment and the performance by the parties of their respective obligations under the Commercial Arrangements following the completion of the Investment. Many factors could cause the actual results, performance or achievements that may be expressed or implied by such forward-looking information to vary from those described herein should one or more of these risks or uncertainties materialize. These factors include, without limitation: changes in law; the ability to implement business strategies and pursue business opportunities; state of the capital markets; the availability of funds and resources to pursue operations; a novel business model; dependence on key suppliers and local partners; competition; the outcome and cost of any litigation; as well as general economic, market and business conditions, as well as those risk factors discussed or referred to in disclosure documents filed by Snipp with the securities regulatory authorities in certain provinces of Canada and available at www.sedar.com. Should any factor affect Snipp in an unexpected manner, or should assumptions underlying the forward-looking information prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Moreover, Snipp does not assume responsibility for the accuracy or completeness of such forward-looking information. The forward -looking information included in this press release is made as of the date of this press release and Snipp undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law. Snipp’s results and forward-looking information and calculations may be affected by fluctuations in exchange rates.
Neither the 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.
Contacts
Media Contact:
Heath Fradkoff, Ward 6 Marketing
heath@ward6marketing.com
GO $SNIPF
makinezmoney
3 years ago
$SNIPF: Fantastic NEWS.... Ballys takes 9% Stake today !
Now at 0.19
Bally’s Corporation to Purchase Minority Stake in Snipp Interactive
Additional commercial agreement includes integration of the SnippLOYALTY platform into Bally’s physical and digital properties
April 12, 2022 10:30 AM Eastern Daylight Time
VANCOUVER, British Columbia--(BUSINESS WIRE)--Snipp Interactive Inc. (“Snipp”) (TSX-V: SPN; OTCPK: SNIPF), a global provider of digital marketing promotions, rebates, and loyalty solutions, today announced that a subsidiary of Bally’s Corporation (“Bally’s”) (NYSE: BALY) has signed an agreement to invest US $5,000,000 in Snipp (the “Investment”). As part of the Investment, Bally’s will be entitled to nominate one director to Snipp’s board of directors, which is expected to be increased in size to five directors. Bally’s will also be provided with a right of first refusal in respect to any offer to purchase all or substantially all of Snipp’s assets received by Snipp from any competitor of Bally’s. Completion of the Investment is subject to the approval of the TSX Venture Exchange (“TSXV”) as well as the satisfaction of other customary closing conditions. Following completion of the Investment, Bally’s is expected to own approximately 9% of the issued and outstanding common shares of Snipp, having subscribed for 25,000,000 common shares of Snipp at US $0.20 per share (CAD $0.25 per share)* as part of the Investment. * Bank of Canada closing FX Rate on April 11, 2022
“Our acquisition of Gambit was intended as a way to better align ourselves with the Gaming world. Now, only a couple of months later, we’re entering a deep relationship with Bally’s. We welcome their presence on our board and look forward to tapping their deep expertise in this high-growth industry.”
Tweet this
Bally’s and Snipp will also enter into commercial agreements (collectively, the “Commercial Arrangements”) whereby Bally’s will become Snipp’s exclusive gaming partner for Snipp’s loyalty gaming platform (“Gambit”), recently acquired in connection with Snipp’s February 22, 2022 acquisition of Gambit Rewards, Inc.
As part of the Commercial Arrangements, Bally’s will also receive a three-year term license of the SnippLOYALTY software platform at arm’s length rates, intended for implementation across Bally’s physical and online properties. Work will begin on the first two deployment locations in the second quarter of 2022. In addition, Bally’s will be granted an option to license the source code for the specific version or versions of the SnippLOYALTY software platform actually implemented in any of Bally’s properties for a price of US$10,000,000.
“Bally’s is one of the most forward-thinking companies in the gaming industry and their investment illustrates the value that they see in SnippLOYALTY as well as our SnippCARE customer acquisition, retention, and engagement platform,” said Atul Sabharwal, Founder & CEO of Snipp Interactive. “Our acquisition of Gambit was intended as a way to better align ourselves with the Gaming world. Now, only a couple of months later, we’re entering a deep relationship with Bally’s. We welcome their presence on our board and look forward to tapping their deep expertise in this high-growth industry.”
“Working together with Snipp furthers our strategic goals around omnichannel integration with well-established technology that can combine rewards platforms across the Bally’s brand and thereby provide our customers with a seamless user journey,” said Adi Dhandhania, Chief Operating Officer of Bally’s Interactive, North America.
As part of the deal, Snipp will also license certain free-to-play games and trademarks from Bally’s for inclusion in the Gambit Rewards platform. Gambit free-to-play tokens, now available in 48 states, are offered as a point redemption option through participating loyalty sites. Bally’s members will soon have access to Gambit’s unique free-to-play mode and Gambit members will soon be able to redeem their Gambit Prize Tokens in the form of Bally’s loyalty points at arm’s length rates.
Launched in 2019 and acquired by Snipp in 2022, Gambit Rewards is a customer network that offers a ground-breaking approach to both online gaming and loyalty programs. Gambit converts brand rewards points into risk-free online gaming and sports betting. Users can play for actual cash winnings and other prizes without risking any real money. This system offers more choices for consumers and unlocks some of the US $100B of cumulative value that is trapped in unused loyalty points.
“With 14 casinos, a racetrack, and digital sports betting properties across the country, Bally’s is the perfect partner to power Gambit’s Loyalty Gaming platform, and we look forward to revealing the newly designed and co-branded version of the platform in the near future,” said Richard Pistilli, Founder & CEO of Gambit Rewards. “Our ability to deliver a proprietary gaming experience to consumers in nearly every state will help to expand Bally’s presence across the US.”
As part of the Commercial Arrangements, Gambit will include Bally’s branding, feature Bally’s free-to-play games, and connect Bally’s loyalty points with Gambit’s Play Tokens. Shortly after closing, the parties expect to commence on a rebranding exercise of the existing Gambit Rewards platform.
The shares of Snipp purchased by Bally’s as part of the Investment will be subject to a four month and one day hold period under Canadian securities laws and the policies of the TSXV. No finder’s fee is payable in connection with the Investment. The proceeds of the Investment will be used by Snipp for sales & marketing and general working capital purposes.
About Snipp:
Snipp Interactive Inc. (TSX-V: SPN; OTCPK: SNIPF) is a leading Platform-as-a-Service (PaaS) company in the global loyalty and promotions sector. Snipp’s proprietary and modular SnippCARE (Customer Acquisition, Retention & Engagement) Platform allows its marquee list of Fortune 500 clients and world-class agencies and partners to use various modules of the Platform to run long-term and short-term programs and promotions, while continually generating and capturing unique zero party data that is invaluable in providing insights to drive sales. SnippCHECK, the Platform’s Receipt Processing Module has established itself as the clear industry leader and standard by powering a large majority of all receipt-based promotions in North America. SnippLOYALTY, the Platform’s full scale modular loyalty engine allows clients the flexibility of deploying any/all aspects of a standard loyalty program on a case by case basis. SnippREWARDS, the Platform’s modular catalogue of digital and physical rewards provides clients with global and easily deployable access to an extensive catalogue of digital and physical rewards. SnippWIN, the Platform’s gaming module solves for the implementation and compliance difficulties of offering games of chance and skill on a global basis, and allows for the global deployment and administration of legally compliant games of chance and skill. For more information, visit Snipp’s website at www.snipp.com.
Snipp is headquartered in Vancouver, Canada with a presence across the United States, Canada, Ireland, Europe, and India. Snipp is publicly listed on the TSXV in Canada and is also quoted on the OTC Pink marketplace under the symbol SNIPF.
About Gambit Rewards
Gambit is a consumer network that integrates loyalty programs with online gaming & sports betting in America. Part of Snipp Interactive Inc. (TSX-V: SPN; OTCPK: SNIPF), Gambit’s platform enables consumers to convert unused loyalty points from across rewards programs into digital play tokens, which can then be used to collect real cash rewards or other prizes from free-to-play games. For more information, visit www.gambitrewards.com.
About Bally’s Corporation
Bally’s Corporation is a global casino-entertainment company with a growing omni-channel presence of Online Sports Betting and iGaming offerings. It currently owns and manages 14 casinos across 10 states, a horse racetrack in Colorado and has access to OSB licenses in 17 states. It also owns Gamesys Group, a leading, global, online gaming operator, Bally’s Interactive, a first-in-class sports betting platform, Monkey Knife Fight, the fastest growing daily fantasy sports site in North America, SportCaller, a leading, global B2B free-to-play game provider, and Telescope Inc., a leading provider of real-time fan engagement solutions.
With approximately 10,000 employees, Bally’s casino operations include more than 15,800 slot machines, 500 table games and 5,300 hotel rooms. Upon closing the previously announced Tropicana Las Vegas (NV) transaction, as well as completing the construction of a land-based casino near the Nittany Mall in State College, PA, Bally’s will own and manage 16 casinos across 11 states. Its shares trade on the New York Stock Exchange under the ticker symbol "BALY."
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this press release constitute "forward-looking information" as such term is defined in applicable Canadian securities legislation. The words "may," "would," "could," "should," "potential," "will," "seek," "intend," "plan," "anticipate," "believe," "estimate," "expect" and similar expressions as they relate to Snipp, TSXV approval of the Investment, satisfaction of the conditions precedents in connection with the Investment, the completion of the Investment, the entering into and performance of the Commercial Arrangements, and the expected benefits of the Investment and the Commercial Arrangements, are intended to identify forward-looking information. All statements other than statements of historical fact may be forward-looking information. Such statements reflect Snipp current views and intentions with respect to future events, and current information available to Snipp, and are subject to certain risks, uncertainties and assumptions. Material factors or assumptions were applied in providing forward-looking information, including: TSXV approval of the Investment, satisfaction of the conditions precedent in connection with the Investment, the completion of the Investment and the performance by the parties of their respective obligations under the Commercial Arrangements following the completion of the Investment. Many factors could cause the actual results, performance or achievements that may be expressed or implied by such forward-looking information to vary from those described herein should one or more of these risks or uncertainties materialize. These factors include, without limitation: changes in law; the ability to implement business strategies and pursue business opportunities; state of the capital markets; the availability of funds and resources to pursue operations; a novel business model; dependence on key suppliers and local partners; competition; the outcome and cost of any litigation; as well as general economic, market and business conditions, as well as those risk factors discussed or referred to in disclosure documents filed by Snipp with the securities regulatory authorities in certain provinces of Canada and available at www.sedar.com. Should any factor affect Snipp in an unexpected manner, or should assumptions underlying the forward-looking information prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Moreover, Snipp does not assume responsibility for the accuracy or completeness of such forward-looking information. The forward -looking information included in this press release is made as of the date of this press release and Snipp undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law. Snipp’s results and forward-looking information and calculations may be affected by fluctuations in exchange rates.
Neither the 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.
Contacts
Media Contact:
Heath Fradkoff, Ward 6 Marketing
heath@ward6marketing.com
GO $SNIPF
sublime740
7 years ago
$SNIPF news out
TORONTO, April 05, 2018 (GLOBE NEWSWIRE) -- Snipp Interactive Inc. ("Snipp" or the “Company”) (SNIPF) (SPN.V), a global provider of digital marketing promotions, rebates and loyalty solutions, is pleased to announce that it has entered into a 5-year loyalty services agreement with a hospitality company based on a variable pricing model with a guaranteed floor.
Apart from gaining traction in the well-established hospitality space, this Agreement marks Snipp’s first foray into a five-year long-term agreement based on a variable pricing model, with a guaranteed floor. This allows the company to enjoy the upside associated with programs that grow their membership over time versus taking fixed fees.
“With the popularity of this particular loyalty program, which is projected to rapidly grow and based on conservative projections provided by our Client, we are optimistic that this agreement will result in a consistent recurring revenue stream for the company estimated to be anywhere between $500,000 and $1,000,000. Given that this is our first entry into a variable pricing model, we have protected ourselves against any possible downside with a guaranteed floor of $400,000,” said Atul Sabharwal, Chief Executive Officer at Snipp. “This year we are extremely focused on exploiting opportunities in new industries such as Hospitality and Cannabis, as previously discussed. There is a clear market need in both of these industries for software solutions such as ours that are cost effective, scalable and based on flexible business models.”
The Company is also pleased to announce that due to additional investor interest, the Company has increased the size of the non-brokered private placement (the “Financing”), previously announced on March 2, 2018. The Financing will now be comprised of up to 35,000,000 common shares ("Shares") at a price of CAD $0.10 per Share, for gross proceeds of up to CAD $3.5 million. Closing of the Financing will occur in tranches. The Company has already closed four tranches to date, comprised of 25 million shares at a price of CAD $0.10 per Share for gross proceeds of CAD$2.5 million. The Company is expecting insider participation of over 50% of this final tranche.
All Shares issued pursuant to the Financing will be subject to a four-month hold period under applicable securities laws in Canada, as well as the policies of the TSX-V, where applicable. Finder's fees may be payable to certain finders in connection with the Financing, subject to the approval of the TSX-V. The net proceeds raised through the Financing will be used for sales & marketing and general working capital purposes.
About Snipp:
Snipp is a global loyalty and promotions company with a singular focus: to develop disruptive engagement platforms that generate insights and drive sales. Our solutions include shopper marketing promotions, loyalty, rewards, rebates and data analytics, all of which are seamlessly integrated to provide a one-stop marketing technology platform. We also provide the services and expertise to design, execute and promote client programs. SnippCheck, our receipt processing engine, is the market leader for receipt-based purchase validation; SnippLoyalty is the only unified loyalty solution in the market for CPG brands. Snipp has powered hundreds of programs for Fortune 1000 brands and world-class agencies and partners.
Snipp is headquartered in Toronto, Canada with offices across the United States, Canada, Ireland, Europe, and India. The company is publicly listed on the OTCQB, of the OTC market in the United States of America, and on the Toronto Stock Venture Exchange (TSX) in Canada. Snipp was selected to the TSX Venture 50®, an annual ranking of the strongest performing companies on the TSX Venture Exchange, in 2015 and 2016. SNIPP IS RANKED AMONGST THE TOP 500 FASTEST GROWING COMPANIES IN NORTH AMERICA on Deloitte’s 2017 Technology Fast 500™ List, for the second year in a row.
Visit the Snipp website at www.snipp.com for examples of Snipp programs.
FOR FURTHER INFORMATION PLEASE CONTACT:
Snipp Interactive Inc.
Jaisun Garcha
Chief Financial Officer
investors@snipp.com
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