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SpiffX sees great potential for Take 5

images-3In early May, Leander Games announced that it has joined forces with Swedish alternative betting exchange SpiffX (listed in Sweden) to launch a new live betting product in the form of ‘Take 5’.

Developed by SpiffX and focused on football, the game allows players to make a one-click bet at odds of 5/1 that there will be a goal in the next five minutes of play during a match.

As part of the agreement between the two parties, Take 5 will be distributed across the casino and gaming market via an integration with Leander’s LeGa remote gaming server.

We are delighted to introduce the first of SpiffX’s consumer targeted games to the LeGa offering; it allows us to further broaden our offering to operators, with an in-play football betting product that has large potential for acquisition and conversion,” Leander chief executive Steven Matsell said.

SpiffX founder Lennart Gilberg added: “The Leander-SpiffX collaboration is a compelling one that offers differentiation in the marketplace. Take 5 is the first of our web and mobile applications and marks the start of our entry into this arena.”

In its recently published Q1 2016 report, SpiffX stated that its customer base has grown by almost 45% during the quarter. CEO Tobias Fagerlund made very bullish comments by saying that he anticipates a real breakthrough for the company. In early 2016, SpiffX signed its first agreement regarding its consumer products with Evoke Gaming. Take5Live has created a lot of attention in the industry, according to the CEO. During the remainder of the year, SpiffX will intensify its work to get the product out on the market and to create more similar products within this segment. The agreement with Leander Games (visit www.leandergames.com for more information) was the next in line and CEO Fagerlund is convinced that there will be more to come. He even goes a step further and says that SpiffX is already in concrete discussions.  Following a recent directed share issue to institutional investors, the company’s finances are in good shape for the time being.

With a market cap of SEK 43m, SpiffX is still a tiny company. Q1 2016 sales were SEK 0,4m, with a net loss per share of SEK 0,36. There is, in other words, still a long way to go, but SpiffX’s products are unique and groundbreaking and the online gaming space is growing and developing fast and operators are constantly looking to differentiate themselves. With a few breakthrough contracts, we believe earnings development could be explosive. Interestingly, the recent directed share issue to institutions was made at SEK 6, which compares to the current share price of SEK 5,50.

Nordic Investor

Disclaimer: Nordic Investor hold shares in SpiffX

 

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