VANCOUVER, BC / ACCESSWIRE / January 4, 2023 / Jackpot Digital Inc. (the "Company" or "Jackpot") (TSXV:JJ)(TSX-V:JJ.WT.B)(TSX-V:JJ.WT.C)(OTCQB:JPOTF)(Frankfurt Exchange:LVH3) is pleased to announce that it has signed a partnership agreement (the "Agreement") with a leading global gaming equipment manufacturer ("Jackpot's New Partner").
Pursuant to the Agreement, subject to certain terms and conditions, Jackpot's New Partner has agreed to provide its services globally on a sole and exclusive basis to Jackpot. Jackpot's New Partner shall manufacture Jackpot's dealerless electronic table games ("ETGs") and shall deliver fully assembled Jackpot Blitz® ETGs ready for installation in casinos worldwide.
Jackpot has placed an initial order with Jackpot's New Partner for 100 Jackpot Blitz ® ETGs, and Jackpot expects to place additional orders throughout 2023 upon obtaining customary jurisdictional licensing approvals.
Jackpot anticipates that this Agreement shall accomplish several business objectives for Jackpot, including:
- A significant reduction in the manufacturing costs of the Jackpot Blitz® ETGs
- Substantially increase manufacturing capacity
- The ability to deliver to Jackpot's customers larger order sizes
- Faster delivery lead times
- A global logistical reach
- Faster integration of new enhancements and features
- An updated, sleeker, more attractive table design
Jackpot Digital's Chief Strategy Officer, Angelo Palmisano, states, "This partnership provides our company the critical consistency, efficiencies, and bandwidth of supply, as we continue to expand our distribution channels globally. It will also give our internal resources the ability to focus on the growing customer engagement and support needs, which will be critical to our explosive growth strategy for the next two years."
Jackpot Digital's President & CEO, Mr. Jake Kalpakian, states, "We are very excited to collaborate with a global manufacturing partner. We currently have 69 Jackpot Blitz® tables deployed in the field and have initially ordered 100 units from our new partner. We expect to expand both our order size and order frequency as we progress through 2023 and beyond. Because demand and orders are growing rapidly, finding the right partner to help streamline our business is an integral step in reaching the next level as an organization. As demand for Jackpot Blitz® continues to grow, we recognize the need to stay lean and focussed on growing our customer base, while simultaneously expanding our manufacturing capacity. This new agreement all at once expands our growth capacity, speeds up the manufacturing process and reduces our costs."
About Jackpot Digital Inc.
Jackpot Digital Inc. is a leading electronic table games manufacturer for the cruise ship industry and regulated casino industry. The Company specializes in multiplayer gaming products, including poker and casino games, which are complemented by a robust suite of backend tools for operators to efficiently control and optimize their gaming business.
For more information on the Company, please contact Jake H. Kalpakian, President and CEO, at (604) 681- 0204 ext. 6105, or visit the Company's website at www.jackpotdigital.com.
On behalf of the Board of Jackpot Digital Inc.,
"Jake H. Kalpakian"
Jake H. Kalpakian,
President & CEO
Trading in the securities of the Company should be considered speculative.
The TSX Venture Exchange has neither approved nor disapproved the contents of this news release.
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 news release.
Certain statements contained herein are "forward-looking". Forward-looking statements may include, among others, statements regarding Jackpot's future plans, the obtaining of customary regulatory approvals, projected or proposed financings, costs, objectives, economic or technical performance, or the assumptions underlying any of the foregoing. In this News Release, words such as "may", "would", "could", "will", "likely", "enable", "feel", "seek", "project", "predict", "potential", "should", "might", "objective", "believe", "expects", "propose", "anticipate", "intend", "plan", "plans" "estimate", "in due course" and similar words are used to identify forward-looking statements. Forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those expressed or implied. Although management believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, projections and estimations, there can be no assurance that these assumptions, projections or estimations are accurate. Readers, shareholders and investors are therefore cautioned not to place reliance on any forward-looking statements as the plans, assumptions, intentions or expectations upon which they are based might not occur.
SOURCE: Jackpot Digital Inc.