Jackpot Digital Inc. (JPOTF) Stock Flat After Announcing Spin-Out Of Online Gaming Assets

Author: Live Casino Direct
 
Jackpot Digital Inc. (JPOTF) Stock Flat After Announcing Spin-Out Of Online Gaming Assets
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Jackpot Digital Inc. announced the strategic reorganization of its business by way of a spin-out of online gaming software assets to a newly incorporated subsidiary of Jackpot titled Spinco.

Jackpot Digital is moving its online gaming assets into a separate subsidiary. This will allow for a more streamlined regulatory process, attracting specialized management and avoiding dilution of Jackpot shares. Jake Kalpakian and Neil Spellman will be the new CEO and CFO of Spinco. The Spin-Out still needs approval from the Supreme Court of British Columbia, 2/3 of the Jackpots' shareholders and the TSX Venture Exchange.