Sharp Alpha said it has closed a $150 million fund targeting gaming businesses, including sports betting, online casino and prediction markets. Sharp Alpha UA Fund I plans to deploy the capital over 24 months, with investments of $4 million to $30 million for selected companies.
The fund offers non-dilutive growth capital to gaming companies seeking to expand customer acquisition.
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SJM Holdings said it will not proceed with acquiring Ponte 16 in Macau. Under a termination agreement with subsidiary Pier 16 Entertainment Group, the casino will close at midnight on 28 November, with its gaming tables and machines moving to other SJM casinos. SJM said local employees will be reassigned, while other Ponte 16 workers can apply for vacancies within the group.
The Juroszek family has increased its stake in Gentoo Media from 26.8% to 59.3% through a €100m refinancing package. Two family-owned entities bought €50m of equity through a share issue, with a further €50m provided as a loan; Gentoo Media chief executive Jonas Warrer said the completed refinancing would enable full repayment of bonds due in December.
The Juroszek family has gained majority control of Gentoo Media following a €100m debt refinancing, according to the source. The family's holding rose from 26.8% to 59.3%.
Genting Bhd proposed a MYR1.25 billion rights issue in early October, primarily to reduce debt and provide working capital, the company said. Lim Kok Thay’s family undertook to subscribe for its full entitlement, representing 45% of the issue; underwriting for the balance was still to be finalised. The proposal comes as Genting pursues US$5.5 billion and US$5 billion resort projects in New York and Singapore respectively.
Genting Bhd proposed a MYR1.25bn rights issue in early October, primarily to reduce debt and provide working capital. The source valued the proposed issue at US$306m.
The Office for Health Improvement and Disparities awarded more than £9.4m to gambling harms organisations in the UK, according to a report. Recipients include Gambling with Lives, Gamban, GamLearn, Chapter One and Beacon Counselling Trust; the funding page puts total provision through 2028 at £39.7m.
The Office for Health Improvement and Disparities (OHID) has awarded more than £9.4m to gambling harms groups, following legal challenges to earlier funding decisions, according to the report.
Gamban said it has returned its gambling-blocking service to free access in England after receiving funding approved by the Office for Health Improvement and Disparities. The company said it had previously switched to subscriptions and had already restored free service in Wales earlier in the year.
Gamban has announced that its service in England will be free again, after it did the same in Wales earlier in the year. The company reversed the change following funding approved by the Office for Health Improvement and Disparities (OHID).