Bill 52665 advances online gaming regulation in Santa Fe, Argentina

International Game Technology PLC (IGT) and Everi Holdings Inc. have announced a definitive agreement for their simultaneous acquisition by a newly formed holding company owned by funds managed by affiliates of Apollo Global Management, Inc. The all-cash transaction values the acquired businesses at approximately $6.3 billion.

In February this year, IGT and Everi had entered into agreements for IGT to separate its Gaming & Digital business (IGT Gaming) via a taxable spin-off to IGT shareholders, and then immediately combine this business with Everi. Under the new agreements, the Apollo Funds will acquire IGT Gaming and Everi. Following the closing, IGT Gaming and Everi will be privately owned companies that are part of one combined enterprise.

Apollo Global Management has plans to integrate IGT and Everi by forming a combined enterprise under its management. The deal involves the acquisition of IGT’s Gaming & Digital business and Everi in an all-cash transaction.

The integration process will see Apollo spin off IGT’s gaming business and merge it with Everi, a casino technology and payments specialist supplier. This strategic move aims to create a stronger player in the global gaming, FinTech, and digital industry.

The transaction, subject to regulatory approvals and approval by Everi stockholders, is expected to be completed by the end of the third quarter of 2025. It’s important to note that IGT shareholders’ approval is not required for the transaction.

This integration is expected to enhance the core segments of IGT Gaming, providing customers with a more comprehensive portfolio of offerings. It also aims to provide significant value to Everi’s stockholders as they move forward with Apollo Funds as their partner.

Everi stockholders will receive $14.25 per share in cash, a 56 percent premium over Everi’s closing share price on 25 July, 2024. IGT will receive $4.05 billion of gross cash proceeds for IGT Gaming, with significant portions of the cash proceeds expected to be used to repay debt and returned to shareholders.

De Agostini S.p.A., the majority shareholder of IGT, has committed to make a minority equity investment in the combined enterprise at the closing of the transaction. Upon completion of the sale of IGT Gaming to the Apollo Funds, IGT will change its name and stock ticker symbol, becoming a premier pure play lottery business.

The transaction with the Apollo Funds has been unanimously approved by a special committee of the IGT Board of Directors and unanimously approved by all members of the Everi Board of Directors. The previous transaction agreements between IGT and Everi entered into on 28 February 2024 have been terminated.

Vince Sadusky, IGT PLC CEO, (pictured above), said, “Our new agreement represents a positive evolution of our previously announced transaction with Everi and a successful culmination of the strategic review process that IGT launched last year. This transaction will allow IGT Gaming to continue to invest in and enhance its growing core segments while providing customers with a more comprehensive portfolio of offerings."

Randy Taylor, Everi President and CEO, added, “We believe this transaction maintains the integrity and strong strategic rationale of our original agreement with IGT, but now also provides significant and certain value to our stockholders as we move forward with the Apollo Funds as our partner. By joining forces with IGT Gaming, we expect to continue to lead, innovate, and provide unparalleled value to our customers as a stronger player in the global gaming, FinTech, and digital industry."

SiGMA East Europe Summit powered by Soft2Bet, will take place in Budapest from 2-4 September 2024

The Paris 2024 Olympics are set to kick off with an unprecedented and ambitious opening ceremony along the iconic River Seine. Billed as the biggest open-air show on Earth, this spectacle will shut down the city centre and its airspace, mobilize 45,000 police officers, several army units, and has taken two years of secret rehearsals to prepare.

This much-awaited for event promises to be unforgettable, showcasing Paris’s rich cultural heritage and spirit of innovation. As the world watches, Paris will once again prove why it is known as the City of Light.

For the first time in Olympic history, the opening ceremony will take place outside a stadium. Instead of the traditional parade around a stadium track, over 8,000 of the world’s top athletes will be transported by boat along a 6km stretch of the River Seine. This sporting armada will be witnessed by more than 300,000 spectators from the bridges and riverbanks, with police, frogmen, and snipers ensuring security.

We decided it was the right moment to deliver this crazy idea and make it real”
- Emmanuel Macron

As the athletes glide down the river, a dazzling array of performances will unfold around them. Dancers, pop stars, tightrope walkers, and acrobats will perform daring feats on water, rooftops, bridges, and artificial islands. The show will feature pontoons, floating pianos, helicopters, and possibly even submarines, culminating in a vast laser show finale beamed from the Eiffel Tower. More than 1 billion people are expected to watch live on TV and social media.

The idea of staging such a grand event along a large stretch of river in a city under its highest terrorism alert was initially met with skepticism. Even French President Emmanuel Macron thought it was “a crazy and not very serious idea” at first. 

The exact details of the nearly four-hour-long show have been kept tightly under wraps. However, as the decor, including floating skateparks, giant replicas of paintings, and oversized gold tinsel, began to be placed in and around the Seine, some clues have emerged.

In the early evening, delegations of athletes from more than 200 countries will be bussed from the Olympic village to a spot at the Seine in the east of Paris. There, they will board boats from specially built pontoons under the guard of the French military. The delegations will then sail side by side down the Seine, past Notre Dame Cathedral and the Louvre, towards the Eiffel Tower. The Greek federation will be first, followed by the Olympic Refugee team, and then other nations, with the French boat coming last.

The Paris Olympics river parade will follow the course of the Seine for 6km, starting from Pont d’Austerlitz and coming to a stop at the Pont d’Iéna before the opening ceremony’s finale at the Trocadéro.

As the athletes sail, a revolutionary and irreverent show will unfurl around them, full of surprises. Historical monuments, rooftops, bridges, the sky, and the water will provide simultaneous settings for overlapping dance, music, acrobatics, and light shows. These performances will explore the history of Paris in all its diversity and its tradition of rebellion. Tightrope walkers will cross the river on high wires, the star French ballet dancer Guillaume Diop will perform on a rooftop, and BMX freestyle bikers will backflip over the water. The French pop star Aya Nakamura, who faced a racist backlash earlier this year over the possibility that she would sing, will also perform.

SiGMA East Europe Summit powered by Soft2Bet, will take place in Budapest from 2-4 September 2024

The Chinese Embassy in the Philippines has expressed strong approval of President Ferdinand Marcos Jr.'s decision to ban all Philippine Offshore Gaming Operators (POGOs). In a statement, the embassy highlighted that this move would benefit both Filipino and Chinese communities. 

"We have noted President Marcos’ announcement of banning all POGOs and welcome this development. We believe this decision echoes the call of the Philippine people and serves the common interests of people of both countries," the Embassy stated on Thursday. 

The Chinese government has been actively cracking down on its citizens involved in gambling businesses abroad, including POGOs. The embassy underscored that these operations are linked to serious crimes such as kidnapping, human trafficking, and murder. It was emphasised that POGO activities harm the interests and images of both nations and negatively affect China-Philippines relations. 

"The Chinese law prohibits all forms of gambling," the statement added. "The Chinese government strictly cracks down on Chinese citizens engaging in overseas gambling businesses including POGO."

The embassy reiterated China's readiness to continue its strong law enforcement cooperation with the Philippines to protect the safety and well-being of their citizens. They emphasised that many Chinese citizens involved in POGO-related crimes were victims of the industry. 

"POGO breeds serious crimes and gravely undermines the interests of both Philippine and Chinese people," the statement said. "In line with this commitment, China is ready to continue its strong law enforcement cooperation with the Philippines and better protect the safety and well-being of the two peoples." 

The Associated Press reported that Marcos’ order targets over 400 online gambling operations employing tens of thousands of Chinese and Southeast Asian nationals. These operations have often been linked to illegal activities and poor working conditions. 

Marcos emphasised the need for strict enforcement of this ban, citing the severe abuse and disregard for Philippine laws by these operators. The Philippine Amusement and Gaming Corporation (PAGCOR) has been tasked with winding down these operations by the end of the year, with labour officials working to find alternative employment for displaced Filipino workers. 

In a joint House committee hearing, PAGCOR Chairman and CEO Alejandro Tengco clarified that the President’s order encompasses all offshore gaming operations, including the licenced Internet Gaming Licensees (IGLs). Speaking with local reporters, Tengco also shared that around 20,000 Filipino workers are set to be displaced. 

The Philippines' relationship with China remains complex, balancing significant trade engagements and cooperation against crime with ongoing territorial disputes in the South China Sea. While Marcos’ predecessor, Rodrigo Duterte, fostered closer ties with China, Marcos has shifted towards strengthening defence ties with the U.S. and other allies. 

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In the world of philanthropy, there are a number of unsung heroes who dedicate their efforts to bring about significant change. Among these individuals are Michelle Debono and Patrick Meli, who stand out as beacons of hope through their ongoing commitment to the SiGMA Foundation's mission.

Michelle and Patrick recently celebrated their marriage, marking an important milestone in their journey together. They first met during the weekly hikes organized by SiGMA Foundation where they bonded over the shared interests in adventure and giving back.  Their relationship flourished through these incredible journeys, both personal and charitable.

Patrick Meli and Michelle De Bono at their wedding ceremony.

Michelle first got involved with the SiGMA Foundation in 2022 when she took part in the Camino de Santiago challenge. She showcased her passion for fundraising and her dedication to making a difference, playing a pivotal role in raising funds for the 3-in-1 School project in Ethiopia. Her deep commitment to uplifting those less fortunate has been evident since then. Reflecting on her journey, Michelle shared, “I started trekking because of the SiGMA Foundation. The group's growth and the increasing participation in expeditions inspired me to integrate trekking and charity into my life. I've taken on other physical challenges and donated the funds to various charities, always looking for ways to give back.”

SiGMA Foundation's second Camino de Santiago challenge group.

Earlier this year, two years after completing the Camino de Santiago challenge, Michelle, now alongside Patrick, took on a new challenge: the first edition of the Lost City Trail expedition, which was held in conjunction with the Cleft Lip and Palate project in Colombia. 

Patrick Meli and Michelle De Bono at the Premium Care Kids Clinic in Cartagena, Colombia

Their fundraising efforts were remarkable, exceeding the set goal of raising enough funds for one operation per participant, they managed to raise enough to conduct an impressive 14 reconstructive surgeries, offering renewed hope and smiles to children suffering from this condition in Colombia. Patrick reflected on his involvements, stating;

 “One vital factor that stood out for me, having been with the SiGMA Foundation for two years, was the proximity of the trek to the clinic in Cartagena. Knowing that the funds were going directly to a nearby clinic and actually visiting it to see the impact first-hand was very important to me.”

Their contributions extend beyond raising money. Both Michelle and Patrick actively engaged in the training and preparation for the challenging Lost City Trail, demonstrating exceptional teamwork and endurance. Their dedication to the cleft lip and palate project reflects their commitment not just to raising funds, but also to being hands-on in their support.

Their generosity continued with their recent wedding gifts. Instead of traditional presents, they donated the monetary value of their wedding gifts to the Dreams of Horses Farm in Xaghra, Gozo. This farm, long supported by the SiGMA Foundation, provides therapeutic and educational experiences for children and adults with special needs. It serves as a sanctuary of healing and learning, where Michelle and Patrick's contributions will make a lasting difference.

Patrick Meli and Michelle De Bono at the Dreams of Horses Farm in Xagħra, Gozo.

The success of their efforts would not have been possible without the support of various groups and individuals. Their journey exemplifies the profound impact that love, dedication, and collective efforts can achieve in the world. Michelle and Patrick's story is an example of the power of compassion and the lasting change that can be achieved when individuals come together for a common cause.

With the world in dire need of philanthropy, the SiGMA Foundation is leading the charge. As the philanthropic arm of the SiGMA Group, the Foundation is dedicated to supporting those who are most in need.

The SiGMA Foundation was founded in 2019 by Keith Marshall, Austin Cachia and Eman Pulis, Founder of SiGMA Group, with a mission to make philanthropy more participatory and engaging. Keith, who is known for his boundless energy, has dedicated his life to making a difference in the lives of thousands of people through various expeditions across the globe. With a fun and engaging approach to fundraising, the Foundation prioritises supporting underprivileged communities through active giving and aims to create meaningful impact in the world.

If you would like to get involved in any of the Foundation’s upcoming projects visit the website for more information.

Interview with SiGMA Group Founder, Eman Pulis on the SiGMA Foundation