NEW YORK and LONDON, Dec. 12,
2016 /PRNewswire/ -- Hydra Industries Acquisition Corp.
("Hydra" or the "Company") (NASDAQ: HDRA, HDRAU, HDRAW, HDRAR),
which will hold a special meeting of stockholders on December 21, 2016 to approve the Company's
previously announced business combination with Inspired Gaming
Group ("Inspired"), today directed stockholders' attention to
Inspired's announcement regarding certain recent developments in
Inspired's business.
Excerpts of Inspired's press release dated December 11, 2016, which is attached below,
include:
- Inspired's world-leading Virtual Sports product has
successfully passed technical field trial with the Nevada Gaming
Control Board and a full product portfolio is expected to be
available in sportsbooks across Nevada during 2017.
- Inspired has announced a material Open Platform deal with
leading Italian operator, Global Starnet, which is expected to
increase Inspired's presence in the Global Starnet estate to more
than 3,000 terminals.
- Following the formal announcement of new VLT regulations by
Greece's Hellenic Gaming
Commission, OPAP has deemed that all appropriate conditions are now
in place to allow it to restart plans for the operation of VLT
products in Greece. As a result,
Inspired expects to commence the rollout of over 3,900 terminals in
early calendar 2017.
- OPAP and Inspired have also entered an agreement whereby
Inspired's full suite of Virtual Sports products are expected to be
deployed into over 4,500 OPAP venues during 2017.
- Inspired has entered into an exclusive deal with LT Game Macau,
one of the leading gaming and casino providers in Macau and the Asia
Pacific region, which is expected to lead to the deployment
of its Virtual Sports content to LT Game's ETG self-service
terminals.
- Inspired has entered into a key brand partnership and licensing
deal with NBA Hall of Famer, Shaquille
O'Neal. As part of the deal, Shaq was confirmed as the
brand ambassador for Inspired's Rush Basketball which is expected
to be launched globally in calendar 2017.
- As part of an exclusive launch deal, Inspired's suite of
Mike Tyson branded boxing products
have launched online and in retail in the UK with Betfred. Mike
Tyson Slots, Roulette and Blackjack will be complemented by Mike
Tyson Rush Virtual Boxing, which is expected to launch in multiple
countries in calendar 2017.
- Inspired's expansion into Mobile continues with launches of new
HTML5 slot games and on-demand Virtual Sports. Inspired's
Mobile games are now available to Paddy
Power, Betfred, Bet365 and Ladbrokes customers in the UK.
Inspired's Virgo Open Mobile Gaming platform has also been licensed
by Gala Coral, allowing them to
implement their own Open RGS for 3rd party game integration.
Lorne Weil, current Chairman of
the Board and Chief Executive Officer of Hydra and prospective
Executive Chairman following the proposed business combination,
commented, "We are excited to be acquiring a business that
continues to show such dynamism and prospects for growth. We were
aware of the potential for many of these developments when we
announced our transaction in July. The fact that Luke Alvarez and his team have overseen their
implementation is incredibly gratifying, and we look forward to the
near-term completion of our transaction."
Following an initial adjournment, Hydra will hold a special
meeting of stockholders on December 21, 2016 to approve its
previously announced business combination with
Inspired. The full special meeting agenda is included in
Hydra's definitive proxy statement filed with the Securities and
Exchange Commission ("SEC") on November 23,
2016.
Stockholders who have not submitted a proxy for use at the
special meeting are urged to do so promptly. No action is required
by any stockholder who has previously delivered a proxy and who
does not wish to revoke or change that proxy.
Additional Information About the Transaction and Where to
Find It
Stockholders are urged to read the definitive proxy
statement filed with the SEC on November 23,
2016 in connection with the proposed business combination
with Inspired Gaming Group, and any amendments or supplements
thereto. Hydra's SEC filings, including the proxy statement, can be
obtained without charge on the SEC's website
at www.sec.gov and on Hydra's website
at www.hydraspac.com. The Company and its directors and
executive officers may be deemed to be participants in a
solicitation of proxies for the special meeting of stockholders to
be held to approve the proposed business combination. Information
regarding the Company's directors and executive officers is
available in its Form 10-K for the year ended December 31,
2015 filed with the SEC. No person other than the Company has
been authorized to give any information or to make any
representations on behalf of the Company in connection with the
proposed business combination, and if given or made, such other
information or representations must not be relied upon as having
been made or authorized by the Company
Forward Looking Statements
This press release contains
"forward-looking statements" within the meaning of the "safe
harbor" provisions of the Private Securities Litigation Reform Act
of 1995. Forward-looking statements may be identified by the use of
words such as "anticipate", "believe", "expect", "estimate",
"plan", "outlook", and "project" and other similar expressions that
predict or indicate future events or trends or that are not
statements of historical matters. Such forward-looking statements
include statements concerning the potential business combination
and the Special Meeting. These statements are based on Hydra's
management's current expectations and beliefs, as well as a number
of assumptions concerning future events.
Such forward-looking statements are subject to known and unknown
risks, uncertainties, assumptions and other important factors, many
of which are outside of Hydra's control that could cause actual
results to differ materially from the results discussed in the
forward-looking statements. Additional factors that could cause
actual results to differ materially from those expressed or implied
in forward-looking statements can be found in Hydra's most recent
annual report on Form 10-K and subsequently filed quarterly reports
on Form 10-Q and current reports on Form 8-K, which are available,
free of charge, at the SEC's website at www.sec.gov.
About Hydra Industries Acquisition Corp.
Hydra is a
blank check company formed for the purpose of effecting a merger or
other business combination with a target company. Hydra was
founded by gaming industry veteran Lorne
Weil and raised $80 million on
October 29, 2014 in its Initial
Public Offering. In addition, Macquarie Capital co-sponsored
Hydra's efforts to source acquisitions and provided a $20 million forward equity commitment which, with
Hydra's existing cash in trust, will be used to fund the proposed
transaction.
Additional information can be found at www.hydraspac.com.
About Macquarie and Macquarie Capital
Macquarie Group
("Macquarie") is a global provider of banking, financial, advisory,
investment and funds management services. Macquarie's main business
focus is making returns by providing a diversified range of
services to clients. Macquarie acts on behalf of institutional,
corporate and retail clients and counterparties around the world.
Founded in 1969, Macquarie operates in more than 70 office
locations in 27 countries. Macquarie employs approximately 13,800
people and has assets under management of over $377 billion (as of September 30, 2016).
Macquarie Capital comprises Macquarie Group's corporate
advisory, capital markets and principal investing capabilities.
Macquarie Capital's expertise spans a variety of industry sectors,
including telecommunications, media, entertainment, gaming,
financial institutions, industrials, energy, resources, real
estate, infrastructure, utilities and renewables.
Contact:
For Hydra: Contact George Peng, Chief Financial Officer, (646)
565-6940
[INSPIRED'S PRESS RELEASE ATTACHED IN ITS ENTIRETY BELOW]
INSPIRED UPDATES ON H2 2016 ACHIEVEMENTS, FOLLOWING RECENT
ANNOUNCEMENTS OF EXPANSION INTO NEVADA AND KEY EU MARKETS
- Virtual Sports Approval and Deployment into Nevada
- SBG Contract Gains for New Terminal Installations in
Italy
- Formal VLT Announcement by OPAP Allowing Rollout of More
Than 3,900 Inspired Terminals
- Virtual Sports contract with OPAP for 4,500 venues
- High Profile New Products and Brand Partnerships
Including with Shaquille O'Neal
- Continued Rollout of New Mobile Products and
Customers
Inspired, the leading provider of Virtual Sports, Mobile Games,
and SBG Video Lottery, today provides a business update on recent
catalysts in Inspired Gaming Group's ("Inspired's") business during
the 2nd half of 2016.
The newly announced developments:
- Inspired's world-leading Virtual Sports product has
successfully passed technical field trial with the Nevada Gaming
Control Board and a full product portfolio is expected to be
available in sportsbooks across Nevada during 2017.
- Inspired has announced a material Open Platform deal with
leading Italian operator, Global Starnet, which is expected to
increase Inspired's presence in the Global Starnet estate to more
than 3,000 terminals.
These developments build on the progress of a number of
Inspired's recent successes, including:
- Following the formal announcement of new VLT regulations by
Greece's Hellenic Gaming
Commission, OPAP has deemed that all appropriate conditions are now
in place to allow it to restart plans for the operation of VLT
products in Greece. As a result,
Inspired expects to commence the rollout of over 3,900 terminals in
early calendar 2017.
- OPAP and Inspired have also entered an agreement whereby
Inspired's full suite of Virtual Sports products are expected to be
deployed into over 4,500 OPAP venues during 2017.
- Inspired has entered into an exclusive deal with LT Game Macau,
one of the leading gaming and casino providers in Macau and the Asia
Pacific region, which is expected to lead to the deployment
of its Virtual Sports content to LT Game's ETG self-service
terminals.
- Inspired has entered into a key brand partnership and licensing
deal with NBA Hall of Famer, Shaquille
O'Neal. As part of the deal, Shaq was confirmed as the
brand ambassador for Inspired's Rush Basketball which is expected
to be launched globally in calendar 2017.
- As part of an exclusive launch deal, Inspired's suite of
Mike Tyson branded boxing products
have launched online and in retail in the UK with Betfred. Mike
Tyson Slots, Roulette and Blackjack will be complemented by Mike
Tyson Rush Virtual Boxing, which is expected to launch in multiple
countries in calendar 2017.
- Inspired's expansion into Mobile continues with launches of new
HTML5 slot games and on-demand Virtual Sports. Inspired's
Mobile games are now available to Paddy
Power, Betfred, Bet365 and Ladbrokes customers in the UK.
Inspired's Virgo Open Mobile Gaming platform has also been licensed
by Gala Coral, allowing them to
implement their own Open RGS for 3rd party game integration.
Luke Alvarez, Founder and
Chief Executive Officer of Inspired Gaming Group, commented,
"As 2016 draws to a close, Inspired has demonstrated strong
progress across all of our digital product lines. Our VLT business
is approved for launch into Greece
in early-2017, we are growing in our core UK SBG market and
expanding in Italy SBG through
newly announced concession contracts. Our Virtual Sports
business has successfully launched into Nevada with future contracted launches
including additional US markets, Greece and Macau. Finally, our mobile business is
growing and increasing penetration with a range of new customers
and games. Inspired exists to bring Entertainment with an
Edge to its customers, and today's announcement of recent
milestones sharpens that edge."
About Inspired
Inspired is a global games technology company, supplying
Virtual Sports, Mobile Gaming and server-based gaming systems with
associated terminals and digital content to regulated betting and
gaming operators around the world. Inspired currently
operates more than 25,000 digital gaming terminals and supplies its
Virtual Sports products in more than 35,000 venues and on over 100
websites in 30 countries. Inspired employs over 800 employees in
the UK and elsewhere, developing and operating digital games and
networks.
Additional information can be found at
www.inspiredgaminggroup.com
Contact:
Elinor Fewster
elinor.fewster@ingg.com
t: +44 20 7456 9016 | m: +44 7973808951
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/hydra-announces-operational-update-from-inspired-gaming-group-since-announcement-of-proposed-business-combination-300376463.html
SOURCE Hydra Industries Acquisition Corp.