Galactica

What is Galactica?

SmartSoft has joined the African iGaming Alliance (AiA) as a Gold Supplier Member in a strategic partnership focused on its continued development of African gambling.

In an announcement on Tuesday, the parties said the agreement was “focused on supporting the continued development of sustainable, responsible and commercially viable regulated gambling markets across Africa”.

SmartSoft maintains an established and growing presence in Africa, having also co-hosted the iGB L!VE Africa Summit in July.

What is Galactica?

“Having a minimum standard in player protection is one of the aims of the network. Our view is that responsible gaming regulations need to move beyond being paper-based requirements to actual standards that are upheld as a regulatory requirement.”

The ARGN’s launch follows the inaugural Africa Safer Gambling Week earlier this month.

Hosted by the African iGaming Alliance, the week brought together a range of stakeholders in the African sector.

What is Galactica?

The share price came under pressure following debt disclosures in Bally’s Q2 10-Q filing, which was submitted to the Securities and Exchange Commission on 14 August.

In the filing, Bally’s noted that based on current forecasts, the business “does not project that it would satisfy the liquidity maintenance requirement” or the “consolidated net leverage ratio covenant” in its revolving credit facility over the next year.

The filing added: “As described below, while the company is actively engaged in discussions on several financing alternatives, the conditions and events raise substantial doubt about the company’s ability to continue as a going concern.”