Global Daily Fantasy Sports Inc Provides Business update and Plan to the COVID-19 crisis
Global Daily Fantasy Sports Inc. is providing a business update and its response plan to the Coronavirus crisis. The company’s responsibility and priority is the health and safety of its staff. Consequently, Global implemented a work-from-home policy to promote social distancing. These policies remain active for the foreseeable future.
Due to the sternness and uncertainty of the current economic climate which is impacted by COVID-19, the business steps to reduce all non-essential business expenses. This resulted in certain reductions in the firm’s development resources. The Global Daily Fantasy Sports Inc intends to revisit its staffing needs after its previously announced acquisition of Playgon Interactive Inc.
On January 15, 2020, Global announced that it intended to finish financing transactions of up to 33,333,334 subscription receipts at a price of $0.15 per subscription. Receipt for aggregate gross proceeds of $5,000,000, in connection with the shutting of the Transaction. Due to the present unparalleled financial turmoil in the economic markets caused by the COVID-19 pandemic. Along with the approval delays, the close of the Financing and Transaction are extended further to June or before June 1, 2020.
Global Daily Fantasy Sports Inc is still committed
Global and Playgon still remain committed to completing the Transaction as soon as possible, given the synergistic benefits. The virtual casino industry growth rates are quickening as a result of these hard times of public lockdowns and the shutdown of land-based casinos and gambling shops globally.
CEO of Global, Darcy Krogh, said ” it has been a very hard time and environment. It is a very difficult environment to finance new transactions. The irony of the situation is that there has never been a better time to complete and even launch new Live Dealer product as most web casinos are experiencing 20-30% growth in their internet casino business.”
About Playgon Interactive Inc.
Playgon Interactive Inc is a technology company that is devoted to leading the innovation curve in Live Dealer Casino gaming. They feature an unrivaled mobile platform. With its 12,000 sq. ft state of the art broadcasting studio streaming live from Las Vegas, the betting capital of the world, Playgon is now providing the ultimate in the interactive entertainment with its first-to-market products and mobile-first strategies which are years ahead of the competition.
About Global Daily Fantasy Sports Inc.
Global Daily Fantasy Sports Inc. provides-tenant gateway that permits operators to offer customers a world-class Daily Fantasy Sports gaming software solution. The platform permits seamless integration at the operator level without the need to share or even to compromise any sensitive customer information.
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