Latest Gaming Industry News

PlaySide Studios announces the resignation of co-founder and Creative Director Gerry Sakkas, who will also leave the board. The company will not replace his role following a recent restructure, while Sakkas commits to a significant share escrow.

Mighty Kingdom Limited reports a positive operating cash inflow and significant cost reductions in Q3 FY25, alongside leadership changes and a $3.35 million capital raise underway to fuel growth.

Donaco International reported a modest revenue and EBITDA decline in Q3 FY2025 but strengthened its cash reserves. Meanwhile, the company agreed to a full acquisition scheme at a significant premium, setting the stage for shareholder decisions amid regulatory uncertainties.

The Star Entertainment Group has received a $650 million debt refinancing proposal from Oaktree Capital Management, offering a potential boost to its liquidity but shadowed by significant conditions and uncertainty.

Mighty Kingdom has completed a strategic review, trimming $2.5 million in annual costs without disrupting current contracts and positioning itself for new revenue growth.

Light & Wonder, Inc. has amended its credit agreement to increase its revolving credit facility from $750 million to $1 billion, extend the maturity to 2030, and reduce interest margins based on leverage tests, enhancing its financial flexibility.

The Star Entertainment Group has declined non-binding offers from Chow Tai Fook Enterprises and Far East Consortium for its 50% stake in the Destination Brisbane Joint Venture, citing insufficient value. The company continues to explore liquidity options but faces ongoing uncertainty about its financial stability.

Mighty Kingdom Limited reported a 10% increase in quarterly game revenue to $1.3 million and a 60% improvement in net cash used in operating activities for Q2 FY25, supported by a new $1.2 million secured debt facility while awaiting $2 million in government incentives.

SkyCity Entertainment Group has resolved a decade-long dispute over casino duty calculations with South Australia’s Treasurer, agreeing to a $38.1 million settlement that ends ongoing legal proceedings.

iCandy Interactive reports a remarkable 105% increase in net cash flow for Q4 2024 despite a 22% drop in cash receipts, driven by strategic expansions and operational efficiencies amid ongoing legal disputes.

Donaco International posted modest revenue and EBITDA gains in Q2 FY2025, alongside a stronger cash position, while navigating regulatory uncertainties in Southeast Asia.

Mighty Kingdom Ltd has received $1.809 million in tax rebates, significantly enhancing its capital flexibility as it refines operations and explores future growth opportunities.