Business
Jackpot Signs Two New Major Agreements
VANCOUVER, BC / ACCESSWIRE / August 26, 2019 / Jackpot Digital Inc. (the “Company&#...
About this update from Jackpot Digital Inc.
[{"type":"text","content":"Jackpot Signs Two New Major AgreementsVANCOUVER, BC / ACCESSWIRE / August 26, 2019 / Jackpot Digital Inc. (the “Company” or “Jackpot”) (TSXV:JP) (TSXV:JP.WT) (TSXV:JP.RT) (OTCQB:JPOTF) (Frankfurt & Berlin Exchanges: LVH2). Jackpot is pleased to announce that it has signed two major agreements for the Jackpot Blitz™ Electronic Table Game (“ETG”).The first agreement (the “Master Agreement”) is between the Company and one of the world’s premiere land-based casino operators, and it outlines pricing and terms for potential future orders of the Company’s Jackpot Blitz™ platform by their casino properties. The Company expects to make a more comprehensive announcement regarding the client and the Master Agreement in due course, once certain terms and conditions of the Master Agreement have been satisfied.The second agreement is a Software License and Equipment Lease Agreement (the “Lease Agreement”) with another major cruise line operator (the “Client”), which outlines the terms of an order for two (2) Jackpot Blitz™ ETGs for an initial six (6) month trial period. This Lease Agreement also outlines financial terms for additional Jackpot Blitz™ ETG installations contingent on the operational success of the Company’s product during the trial period. The Company expects to make a more comprehensive announcement regarding the Client and the Lease Agreement in the near future, once certain terms and conditions of the Lease Agreement have been satisfied.Mr. Jake Kalpakian, Jackpot President and CEO, states “These agreements represent major milestones for the Company and are the culmination of more than two years of negotiations. The fact that major land-based and additional cruise ship casino operators are taking notice of Jackpot Blitz™ and are placing orders is a validation of our product, our team, and the progress we’ve made since launching Jackpot Blitz in late 2017. We are tremendously excited about our future.” Further to the Company’s News Release dated August 22, 2019, the Company wishes to remind interested parties that they are invited to participate in the Company’s shareholder conference call which shall take place on Tuesday, August 27, 2019 at 1:00 pm ...