Online Casino

What Are Wagering Requirements And How To Fulfill Them?| The Casino Academy

February 22, 2024 William Mcmaster

Seasoned online casino gamblers are no stranger to wagering requirements. Even newbies who’ve researched about betting at online casinos must have also encountered the term at some point. Be that as it may, the concept of wagering is something that is not easy to comprehend.

If you’re one of those who find the term mind-boggling, then this article is for you. We’ll explain what are wagering requirements in a digestible way and share with you some tips to beat them. After reading this article, you won’t be scratching your head in confusion next time you hear the term again.

Wagering Requirements Defined

First things first, let’s get the definition out of the way. Wagering requirements are the total number of times the casino requires you to play through the bonus you received before you can withdraw any winnings.

Nearly every bonus online casinos offer comes with a wagering requirement. So, if you’re searching how to withdraw bonus money without playing it through, chances are you won’t find an answer. You must fulfill the wagering requirements first.

Sounds unfair, but it’s not. You can’t expect the casinos to give you something without anything in return, would you? Remember, they aren’t nonprofit organizations. Besides, those are free money you received. If you can withdraw those too easily, all casinos will be out of business in no time.

How To Bet To Fulfill The Wagering Requirements?

Now that you know what wagering requirements are, you need to learn how to fulfill them to make a withdrawal. First, you must know how to calculate them. Let’s have an example for you to better grasp the concept. So, let’s say you want to take advantage of a casino bonus of 100% up to $100. That means when you deposit $100, the casino will match your deposit 100%.

So, you’ll have a total of $200 in your casino account. Cool, isn’t it? However, the casino placed a 10x wagering requirement which means you have to play through the bonus 10x. Does that mean you’ll just bet 10x and you can withdraw your bonus money afterward? Not quite.

To get the specific number of times you need to wager, you have to multiply the bonus by the wagering requirements. In our example above, the rollover (wagering) requirements will be $100 (bonus) x 10 (wagering requirements), which is $1,000. So, you need to wager a total of $1,000 before the casino allows you to make a withdrawal.

In some cases, the casino will also require that you play through your deposit plus the bonus. Using our example above, your rollover requirements will be $200 ($100 deposit + $100 bonus) x 10 (wagering requirements). The total of which is $2,000.

How Does Betting To Meet The Wagering Requirements Work?

To fulfill the wagering requirements, you must bet using the bonus money until you reach the target amount. Sounds simple. However, if you’re thinking you can place a huge amount of bets to get it done and over with, you’re wrong. Most online casinos will put a max bet limit when you’re playing through your bonus. They will only allow you to make small bets at a time to complete the wagering requirements.

Another thing to keep in mind is the game weighting. Online casino games will have different weights in terms of contribution to the wagering’s completion. Casinos decide on this, and you’ll find it stated in their terms and conditions. It’s best that you know how much a particular game will contribute to the wagering requirements. That way, you can make a smart assessment on how to play through your bonus effectively.

Conclusion

You might think that rollover requirements are a total boon and not taking the bonus to avoid this playthrough hassle is a wise decision. However, the truth is that the bonus gives you somewhat of an edge over the casino. You’ll be able to play longer, giving you more chances to hit a big win. Make sure you don’t break any rules in the terms and conditions, and you’ll be well on your way to completing those playthrough requirements in no time.

However, if you’re adamant against fulfilling wagering requirements, then look for casinos offering a no-wagering bonus. We suggest our casino toplist page as a good place to start your hunt.

Wagering Requirements FAQ

Why do online casinos implement wagering requirements?

First, as we’ve mentioned above, casinos need to earn money to stay in business. Second, they need to safeguard themselves from bonus abusers. Last and more importantly, it’s a way to prevent money laundering. With the wagering requirement in place, no one can deposit a large amount of cash and then withdraw it disguised as winnings.

What game contributes the most to meeting the wagering requirements?

Games’ weight varies from one online casino to another. However, you’ll find that slots will almost always contribute 100% to your wagering requirements. Be wary though of what slots you play. There will be slots that the casinos will exempt, which means they will not contribute at all to your meeting the rollover requirements.

Does playing through the bonus guarantee a win?

Absolutely not. You must understand that you are still gambling when betting to fulfill the said requirements. No bonus money or play-through rules can affect the outcome of the game. When gambling, it’s always your luck that will determine if you’ll win or lose.

Are there any other factors that affect the wagering requirements?

One more thing you need to check is if the casino placed an expiration date on the playthrough requirements. An expiration date means you need to complete the rollover requirements on or before that date. Otherwise, the casino will forfeit your bonus altogether.

What else in the terms and conditions should you pay attention to?

You should pay close attention to everything that’s written in the terms and conditions, especially the fine prints. We can’t emphasize this enough. We’ll even go as far as suggesting that you take a screenshot of those for your protection.

New Slot Releases at US Casinos in February

February 22, 2024 William Mcmaster

February has been an incredible month for players in New Jersey and Pennsylvania. There’s been a great range of high-quality titles released in these two states over the course of the month. Even with so many great titles released already, there are still more to come. We’re taking a look at the latest games to be released this month. New Jersey has slightly more releases to come so we’re going to cover there first followed by what PA has to offer.

New Jersey

Hyper Strike is a 5 reel, 20 payline video slot from DGC that offers 2,000 times the player stake maximum payout.
Double Jackpot is a video slot from Everi. It’s a 3 reel, 5 payline title. This retro-themed game offers a win of up to 2,000 times the stake.
Bison Fury is a 5 reel and 1024 ways to win slot from GVC. It has five jackpots available.
Jacks or Better and Tens or Better are two superb Video Poker titles coming from GVC.
Golden Goddess Mega Jackpot from IGT is a 40 payline slot across 5 reels. Players can win a progressive jackpot when playing this title.
Rainbow Cash Pots is a slot from Inspired that features 10 paylines on 5 reels. Up to 2,000 times the player’s stake can be won here.
Vegas Night Life is a slot by NetEnt. It’s played across 5 reels and has 20 paylines. Players can walk away with as much as 900 times their stake in this title.

Pennsylvania

Jade wins is a slot that comes from AGS. It is over 5 reels and gives 243 ways to win using the Power XStream system.
Longhorn Jackpots is a high volatility video slot from AGS. It has 5 reels and 243 ways to win.
Irish Magic from IGT has 5 reels and 10 paylines. It’s the latest in a long line of high-quality Irish-themed video slots.
Mistress of Egypt is the final release. It’s a slot from IGT that has 5 reels and 30 ways to win.

Excitement Coming

As you can see the range of releases this month is absolutely fantastic. So if you’re a fan of high-quality casino games, then there’s plenty available for you to enjoy.

Borgata Casino Coming to PA

February 22, 2024 William Mcmaster

Players have been excited for a while about the Borgata Casino launching its online brand in PA. The brand was already available in New Jersey for quite a while, and many players will have some idea of what to expect. There’s been quite some speculating about when the Borgata brand will be going live, but the announcement has finally come now! PA Players can look forward to enjoying the site when it’s launched next week.

Pennsylvania Excited

The Entain brand has already grabbed a lot of attention and praise for its handling of properties within NJ. Because of this, players in Pennsylvania are extremely excited about what will be offered. The license has been awarded by the Pennsylvania Gaming Control Board, so this is something that has been planned for a while. It’s safe to say that a lot of work has been put into creating the site.

This means that players in PA are very much excited about the potential quality of the site. While there are no guarantees in terms of site content at the moment, the high quality of other Entain brands across New Jersey promise that Borgata PA will offer a similar level of service.

Expected Game Choice

It’s expected that the range of casino games Pennsylvania players will have available will be on a par with what other sites offer. So, the Borgata PA is believed to have an extensive collection of video slots, high-quality progressive jackpot games, comprehensive table game choices, and live dealer casino games. This is looking to be a fantastic lobby that will delight PA players next week.

Players can expect to see a number of bonuses and promotions offered too. While these haven’t been confirmed yet, it’s likely that there will be welcome bonuses as well as regular promotions.

It’s safe to say that the residents of Pennsylvania can’t wait for the Borgata PA to be launched!

Your Weekly Best New Slots | Week 7 / February 15 – 21, 2021

February 22, 2024 William Mcmaster

New Slots To Be Released on Week 7 of 2021

We’re back to present five new slots that stand out from those scheduled for release this week 7 of 2021. The slots on our selection this week exude a certain level of classiness in them one way or the other. So, we’re curious how they will fare to slot enthusiasts like you.

The Paying Piano Club and Joker King share a jazzed-up jazzy-theme. Both slots also offer free spins that can be retriggered, among other things. Trillionaire boasts of a Fashion Wheel that awards win multipliers and Mega wins. Take Olympus serves a unique gaming experience with five deities gracing the game and giving different rewards. Last on the list is Sherlock Bones with its sticky wild and Rolling Reels feature.

5 New Slots To Check Out

Our selection of new slots this week 7 of 2021 come from developers Play’n GO, Pragmatic Play, Red Tiger, BetSoft, and Electric Elephant. Let’s see which among these new slots this week will catch your interest.

The Paying Piano Club

The new addition to Play’n GO’s slots portfolio this week 7 of 2021 revisits the Roaring Twenties. In particular, this developer showcases the music scene of the said era in The Paying Piano Club. Its 3×3 reels with 5 paylines sit on top of a piano displaying pay symbols fitting to the theme. Golden staff hugs the low-paying yet classy-looking J to A royals while musical instruments make up the premiums.

The wild symbol can land anywhere to substitute for symbols and holds a value of its own too. It pays 20x the stake for three of a kind, and it can also appear stacked. When stacked wild is present during a winning spin, a win multiplier is applied to your winning amount. Win multiplier values are x2, x3, x5, and x10.

The win multipliers still come into play during the bonus game. To trigger this feature, you need at least three scatter symbols to appear. These scatters will award you 5 free spins. Watch out for gold coin symbols during this round as they increase the win multiplier and free spins by one. What’s amazing is there is no limit to the free spins or win multiplier increase you can have. As long as the gold coin lands, the bonus round won’t end, and the win multiplier will keep on increasing.

Number of Paylines: 5	RTP: 96.26% (Default)
Min Bet: 0.05	Max Bet: 100
Max Payout: 5,000x	Software Provider: Play’n GO

Joker King

Pragmatic Play explores a familiar ground this week and presents Joker King. Visuals look all upbeat with the 25-payline 6×4 grid framed in gold atop a golden platform. The stylish purple background adds a classy vibe. Furthermore, the tub of gold peeking on top of the grid seems to promise riches. Joker all smiles on the side also offers you a hand full of gold.

Classic slots symbols grace the paytable, giving 1x to 5x the stake for six of a kind. Wild can land anywhere and also pays 5x the stake for six of a kind. When wild appears, a special symbol is selected at random. Joker then turns all instances of this special symbol into wilds, thus increasing the possibility of forming winning combinations.

Like the wild symbol, the scatter can land anywhere and carries a 2x, 3x, 5x, 10x, or 25x random win multiplier. When 3, 4, 5, or 6 scatters land, you’ll get 8, 10, 15, or 20 free spins, respectively. The wild symbol is guaranteed to appear on each free spin during free spins carrying its special symbol replacement ability. Free spins can also be retriggered for unlimited times. With the scatter multipliers and the wild special feature, you can end up winning the 5,000x max payout.

Number of Paylines: 25	RTP: 96.50% (Default)
Min Bet: 0.25	Max Bet: 125
Max Payout: 5,000x	Software Provider: Pragmatic Play

Trillionaire

Red Tiger went all the way in coming up with a glamorous slot this week. Trillionaire sure did capture the glitz and glamor of the FashionTV channel. Sparkling gold serves as a backdrop of the golden frame that houses the 20-payline, 5×4 grid. Multifaceted diamonds cut in card faces make up the low-pay symbols, and supermodels represent the premiums.

The supermodels are towering at 1×4 in size, which can land partially or fully. When these supermodels land fully to cover the entire reel, they turn to a wild. A full-screen wild awards 200x the stake. Helping to push the supermodels into full view is this game’s nudge feature.

The supermodels look stunning, but this slot’s stars are the free spins feature and the Fashion Wheel. At least 3 scatter symbols trigger the free spin feature by awarding 8 free spins. Before this bonus round begins, you need to pick one of the supermodels. If the supermodel of your choice lands partially during free spins, it will always be nudged into full view.

As for the Fashion Wheel, you need the wheel symbols to land on reels 1, 3, and 5 to trigger the Fashion Wheel. Its four concentric circles carry the following rewards:

First Circle – awards arrow to the second circle or 5x.
Second Circle – awards arrow to the third circle or bet multipliers of 10x or 30x.
Third Circle – awards arrow to the fourth circle or bet multipliers of 50x or 100x.
Fourth circle – awards the Mega Win of 1,000x.

Number of Paylines: 20	RTP: 95.76% (Default)
Min Bet: 0.10	Max Bet: 100
Max Payout: 1,000x	Software Provider: Red Tiger

Take Olympus

Poseidon, Hades, Aphrodite, Apollo, and Zeus grace one of the new slots this week 7 of 2021. Betsoft gives a different kind of class, putting five Greek mythology’s powerful deities in one slot this week.

Except for Zeus, each deity will randomly reign over Take Olympus’s 5×4 grid after every cycle or 10 spins. Furthermore, each of them will have special powers that increase your chances of collecting generous wins. You’ll reap the reward from each of the gods at the end of every cycle.

Apollo. All the places where Apollo or the bow and arrow symbol lands are marked. The marked spots transform into wilds at the end of Apollo’s cycle. These wilds then substitute for other symbols except for the Zeus symbol.

Aphrodite. All spots where Aphrodite or leaf symbol appears are marked. At the end of Aphrodite’s cycle, the marked positions and the spaces between them turn to mystery boxes. These boxes will then transform into one similar symbol.

Hades. At the start of Hades’s cycle, a x1 multiplier gets activated. Each time the Hades or Cerberus symbol lands, the multiplier increases by one. The total of multiplier will be applied on the 10th spin.

Poseidon. The god of the sea’s cycle carries a counter with a value of 1 on the first spin. Every time the Poseidon or the trident symbol lands, the counter increases by one. At the end of the cycle, Poseidon will award free spins equivalent to the number on the counter.

The mighty Zeus doubles as the wild and a 1×4 tall symbol. As the wild, he can substitute for all other symbols to help form winning combinations. As the 1×4 towering symbol, he awards free spins when any other deity is present when he lands on the reel. During free spins, he can take over the power of the four deities to help you win.

Number of Paylines: 50	RTP: 95.49%
Min Bet: 0.10	Max Bet: 40
Max Payout: 2,328x	Software Provider: Betsoft

Sherlock Bones

Intelligence is classy, and developer Electric Elephant knows that. As such, the studio presents a new slot created with Arthur Conan Doyle’s intelligent detective hero in mind. With Sherlock Holmes as inspiration, this developer came up with a canine and feline-friendly slot, Sherlock Bones.

A gloomy sky can be seen at the back of the 5-reel game area. To win, you need at least 3 matching symbols from left to right. You’ll have seven pay symbols that can appear stacked. Helping to form winning combinations is Sherlock Bones, which is the wild symbol. He also plays a role in activating the Rolling Respin feature.

When Sherlock lands, a horizontal row is added underneath the main reels, displaying either bones or empty spaces. A bone under a wild symbol causes the wild to turn sticky and expand downwards, triggering the Rolling Respin.

During the Rolling Respin feature, you’ll receive respins until you win. After every win, the sticky wilds move one position to the left, and an additional row will appear at the top of the grid. A maximum of 4 rows can be stacked on top of the main reel, increasing win ways up to the maximum of 16,807.

Number of Paylines: 243 to 16,807	RTP: 96.21%
Min Bet: 0.20	Max Bet: 100
Max Payout: N/A	Software Provider: Electric Elephant

Conclusion

If you play slots to relax, you will find our list of new slots this week 7 of 2021 worth trying out. Each of them offers outstanding visuals with straightforward, much simpler, and more laid-back gaming. They are perfect starting points for newbies to slot games.

Speaking of newbies, if you are one, we feel compelled to remind you to play games only on trustworthy casinos. You’ll enjoy the game more if you’re playing without worrying about security, safety, and fair play. If the list of new casinos this week isn’t enough, you can find more when you go over our blog page. We feature new slots every week, so you’ll never run out of choices.

Your Weekly Best New Slots | Week 6 / February 8 – 14, 2021

February 22, 2024 William Mcmaster

New Slots To Be Released on Week 6 of 2021

Top-tier software developers serve new slots that offer an adventure to the past this week 6 of 2021. Leading the pack is Juicy Joker Mega Moolah pairing some classic slot symbols to modern hit progressive jackpots. Rome: The Golden Age takes you further back in history, offering a maximum win potential of 100,000x the stake.

If the days of Roman gladiators aren’t far enough for you, how about the dinosaur era? Dinosaur Rage takes you as far back as the Mesozoic Era. Have fun playing the slot game with enraged dinosaurs helping you bagging wins.

The Hand of Midas slot, meanwhile, brings to life a tale as old as time. It promises a max payout of up to 5,000x your bet. Offering the same max payout is Thunder Screech, which also exudes a touch of mysticism from native American ancient culture.

5 New Slots To Check Out

Some of the best new slots this week 6 of 2021 come from developers Just For The Win, NetEnt, Quickspin, Pragmatic Play, and Play’n GO. Let’s look closely at these developers’ slot releases this week.

Juicy Joker Mega Moolah

One of the largest progressive jackpots online is back in one of the new slots this week 6 of 2021. Microgaming partner Just For The Win serves us a slot that carries classic symbols — fruits and joker. Juicy Joker Mega Moolah sports a simple yet lively look with its 20-payline, 5×3 grid in a well-lit golden frame. The jackpot counter on the left, which also has a golden-colored frame, adds to the attraction.

As mentioned above, this slot has classic symbols of fruits and jokers making up the paytable. Just For The Win armed the game with three wilds — a regular wild, a Respin Wild, and a Juicy Wild. They all substitute for other symbols to form winning combinations and pays 25x your bet for five of a kind.

Increasing immense win possibilities are the Returning Wild and free spin features. However, the absolute star of this slot is the jackpot game. Three joker symbols landing on the middle three reels triggers the Progressive Jackpot Wheel.

The wheel awards either cash prizes or any one of the four jackpot prizes. Cash prizes up for grabs are 1x, 2x, or 3x the stake. As for the jackpot prizes, you have Mini, Minor, Major, or Mega jackpot to look forward to. All are progressive jackpots with seeds of £/€10, £/€100, £/€10,000, and £/€1,000,000, respectively.

Number of Paylines: 20	RTP: 92.03%
Min Bet: 0.10	Max Bet: 10
Max Payout: Progressive	Software Provider: Just For The Win

Rome: The Golden Age

NetEnt’s new addition to its library of slots this week 6 of 2021 relives the Roman gladiators’ days. Worry not because there will be no blood splattering on you while playing Rome: The Golden Age. The 5- reel grid sits high on an arena’s terrace with marble floors and columns and statues on either side. The grid is quite unusual with its rows in a 3-4-5-4-3 layout. Nevertheless, the game has 20 fixed paylines where at least three matching symbols should land to form winning combinations.

There are five low-paying and four premium symbols on the paytable. The wild, which substitutes for other symbols, also carries a value of 5x the stake for five of a kind. One special symbol to watch out for is the Golden Age symbol. This may turn into a Rome symbol that then turns into a wild symbol.

The Golden Age symbol is also your key to collecting multipliers from x1 to x1000. These multipliers are applied at the end of the free spins. So, collecting as many multipliers as possible before triggering the free spins round enhances your free spin winnings. Rome symbols also reveal wins from 0.5 up to 50x at the end of the bonus round.

Number of Paylines: 20	RTP: 96.06%
Min Bet: 0.10	Max Bet: 50
Max Payout: 100,000x	Software Provider: NetEnt

Dinosaur Rage

Quickspin’s Ark of Mystery slot heroine, Anna the Explorer, is ready to take on a new adventure this week. This time, you’ll accompany her as she travels back in time to face some temperamental dinosaurs in Dinosaur Rage. You don’t need to be nervous, as the prehistoric jungle on the background of the 5×4 game area looks refreshing. Moreover, the enraged dinosaurs will be of help in enhancing win potentials.

Pay symbols on the low side consist of teeth and bones designed to the shape of 10 to A royals. Dinosaurs and Anna comprise the premiums with our lovely heroine as the highest-paying symbol. She also stands 1×4 in size, while the dinosaurs come in 1×2 to 1×4 sizes. What’s even more impressive are the pay-anywhere symbols. You’ll score a win as long as such symbols land on paylines regardless if they aren’t adjacent with each other.

Pay-anywhere symbols are particularly beneficial during Dinosaur Rage! Free Spins. When 3, 4, or 5 scatters land, you’ll get 10, 15, or 25 free spins, respectively. In addition to free spins, you’ll also get 1, 2, or 3 upgrades, respectively. Upgrades will enrage a dinosaur at random, turning it into a pay-anywhere symbol. The scatter symbols can still land during the bonus round to award free spins and upgrade.

The last feature is the bonus buy for those who want a shortcut to the free spin round. You can pay 75x or 150x your bet for 3 or 4 scatters landing on the next spin.

Number of Paylines: 1,024	RTP: 96.11%
Min Bet: 0.20	Max Bet: 100
Max Payout: 17,794x	Software Provider: Quickspin

The Hand of Midas

Making our list of new slots this week 6 of 2021 is Pragmatic Play’s The Hand of Midas. Its huge 5×3 grid with 20 paylines almost covered what look like ruins of a once majestic castle chamber. Perhaps, the room belongs to King Midas himself? Your guess is as good as ours. What we’re sure of is you need at least 3 matching symbols from the leftmost reel onwards to score a win.

The paytable houses several symbols with six low-paying ones and six premiums. Five of a kind of premiums pay from 5x to 20x your bet. Wilds can only land on reels 2, 3, or 4 to replace other symbols and help form winning combinations. They carry random 1x, 2x, or 3x multipliers applied to the total win.

Trigger the free spin round with 3 scatter symbols, and you’ll get more rewarding features. There are wilds that become sticky and win multipliers that do not reset with each spin. Depending on your location, the buy feature may or may not be available to you. If available, you can purchase free spins for 100x, 200x, or 300x the stake.

Number of Paylines: 20	RTP: 96.54% (Default)
Min Bet: 0.20	Max Bet: 125
Max Payout: 5,000x	Software Provider: Pragmatic Play

Thunder Screech

Making it to our selection of new slots this week 6 of 2021 is Play’n GO’s Thunder Screech. The 5×3 grid stands high and mighty on a vast clearing, yet you can still see the picturesque view behind it. The great visual created an overall relaxing vibe as you try your luck on the 10-payline wooden-framed game area.

The symbols at the paytable follow the nature theme. Planks of wood were nailed together to form the low-paying 10 to A royals. Crows, foxes, skunks, otters, and beavers comprise the premiums, paying 10x to 75x your bet for five of a kind.

The Thunderbird totem wild can land on the middle three reels to help form winning combinations. The Call feature, which activates at random, adds 5 to 8 wilds on the grid. The Strike feature, which also triggers at random, turns regular wilds into Thunder Wilds. These wild symbols are sticky, carry win multipliers and trigger respins.

The dream catcher is the scatter symbols that trigger free spin when they land on reels 1, 3, and 5. During the bonus round, all regular wilds turn into Thunder Wilds. You can also be sure of a Thunder Wild landing on every spin. So, multipliers come into play during the round.

Number of Paylines: 10	RTP: 96.20% (Default)
Min Bet: 0.10	Max Bet: 100
Max Payout: 5,000x	Software Provider: Play’n GO

Conclusion

As always, top software developers serve us the best new slots this week 6 of 2021. We’ve selected slots with varied themes and features to give you enough choices. We believe all the new slots we featured this week are worth a try. However, we’ll leave that up for you to decide. Here’s hoping you find one to keep you entertained for the rest of the week. We always feature the most interesting new slot week in and week out. So, if you’re still looking for more new slots, be sure to visit CompareCasino often.

Acies Merges with PlayStudios in $1.1 Billion Deal

February 22, 2024 William Mcmaster

Recently, award-winning mobile game developer, PlayStudios and Acies acquisition Corporation, a publicly-traded Special Purpose Acquisition Company (SPAC), announced a merger. This means PlayStudios, which was formerly a privately owned company, is now available in public markets. Also, SPACs are referred to as blank cheque companies in many cases.

They do not have goods or services of their own, but they have huge capital used to fund/acquire private companies. Private companies entering the public markets through SPACs became popular in 2020 when other popular gaming companies like DraftKings, Rush Street Interactive and Genius Sports Group went public through different SPACs.

Acies Acquisition Corp.

Acies Acquisition Corp, the acquiring SPAC, is headed by Chairman Jim Murren, the former chairman and CEO of MGM Resorts International. The corporation is traded on the NASDAQ as the ACAC, a Class A ordinary share. In October 2020, Acies SEC filing revealed that it was seeking an initial public offering of $200 million.

In the SEC filing, Acies stated that it was “focused on identifying a business combination target within the live, location-based and mobile experiential entertainment industries. Specific sectors that we will target span live events, family entertainment, casino gaming, destination hospitality, sports, sports betting and iGaming, and social and casual mobile games.”

PlayStudios

PlayStudios, the target company which meets these requirements, is headed by its Founder, Chairman, and Chief Executive Officer, Andrew Pascal. After the merger, Andrew Pascal will continue his role at the company and a key figure in Acies Acquisition Corp. Over the years, PlayStudios has developed a reputation as a developer of free-to-play games. It was described recently as “an award-winning developer of free-to-play casual games for mobile and social platforms that offer real-world rewards to loyal players” in a news release.

PlayStudios portfolio consists of top-ranked games with amazing designs. They have a large following due to numerous playAwards that loyal players get. The same news release stated that “over 80 partners and 275 entertainment, retail, travel, leisure, and gaming brands,” contribute to the rewards that players get. Over 10 million rewards with a retail value of about $500 million have been purchased by users using their loyalty points. The app was awarded as a Top Developer by App Annie, the gaming industry’s best in-app analytics and app performance data.

In a public statement by Andrew Pascal, “From our inception, we set out to create wonderfully compelling games that were free-to-play and offered real-world rewards. We’ve now demonstrated the positive, long-term impact of this value proposition with our current portfolio of apps, and we’re poised to carry that success into new products and new game genres. Becoming a public company and securing the resources and support of key institutional investors will enable us to accelerate our growth as we launch new products, pursue new acquisition opportunities, and scale up our unique PLAYAWARDS loyalty program.”

Acies Chairman, Jim Murren said, “Within today’s vast and growing games market, PLAYSTUDIOS is unique in offering their audience the opportunity to play for fun and earn for real. They know how to make engaging and enduring games and stand apart in having harnessed the power of a robust and full-featured loyalty program. “

He went on to lay out plans for the company’s future; “the focus is now to take the PLAYSTUDIOS platform and super-charge its growth. We have abundant initiatives, including targeted, strategic acquisitions; an expansion of the rewards program into new categories such as sports entertainment; and the exploration of opening the PLAYAWARDS platform under a loyalty-as-a-service model. We look forward to leveraging Acies’ M&A knowledge and broad relationships for the benefit of PLAYSTUDIOS and its shareholders.”

Valuation

The SPAC transaction, supported by Jim Murren’s former employer, values PlayStudios at $1.1 billion; that is 2.5x projected 2022 revenue of $435 million or 12.3x projected 2022 pro forma Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization EBITDA of $90 million. Therefore, PlayStudios will have ACAC stock worth 89.1 million shares and up to $150 million in cash.

PlayStudios and Acies are backed by institutional investors’ funds and accounts managed by BlackRock, ClearBridge Investments, Neuberger Berman Funds, and MGM Resorts International. These investors are top participants in the $250 million private investment in public equity (PIPE) financing round at $10 per Acies share towards the transaction closing.

A statement regarding the transaction stated that, After giving effect to the transaction, the company is expected to have approximately $290 million of cash and a public equity currency to accelerate PLAYSTUDIOS’ growth initiatives, including substantially expanding product development and acquisitions of other gaming and related companies.

Upon the closing of the transaction, and assuming none of Acies public stockholders elect to redeem their shares, existing PLAYSTUDIOS shareholders are expected to own 64%, the Acies sponsors 3%, PIPE participants 18%, and public stockholders 15%; all of the combined company.”

At the end of the transaction, the combined company will be named PLAYSTUDIOS and listed on NASDAQ under the new ticker symbol “MYPS.” The board of directors of the concerned parties has approved the transaction, and it is expected to be finalized at the end of the second quarter. Also, the stockholders at Acies will have to approve the transaction, and other closing conditions could affect the transaction.

More SPAC Mergers

The transaction between Acies and PlayStudios is not the only ongoing merger; other keepers are in the works. Announced around the same period is the merger between Tilman Fertitta’s Fertitta Entertainment confirmed and FAST Acquisition (traded on the NYSE as FST), with the operator of five Golden Nugget casinos and the Landry’s restaurant consortium valued at $6.6 billion. Also, this merger is expected to close at the end of the second quarter.

Conclusion

This is exciting news for the industry, with PlayStudios taking the lead as the first mobile game company offering real-life rewards to go public. This will pave way for more mergers and acquisitions, and overall growth for the casino industry, as well as its individual players.