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Jackpot Digital Reports Increased Warrant Activity Led by Insider
Newsfile· 2025-11-06 13:37
Core Insights - Jackpot Digital Inc. is experiencing increased activity in the exercise of its trading warrants, with 11,167,843 warrants exercised at a price of $0.10 per share over the last 60 days, set to expire on November 20, 2025 [2] - The company is expanding its presence in the market with the rollout of its flagship product, Jackpot Blitz® dealerless electronic table games (ETGs), successfully installed in casinos across California, Louisiana, New York, and Wisconsin [3] - Mr. Lyle Berman, a notable insider and co-founder of Grand Casinos Inc., has significantly increased his holdings in the company, now owning approximately 16.74% of the outstanding common shares after exercising warrants and converting debentures [5] Company Activities - The company has seen a surge in warrant exercises, indicating strong investor interest and confidence in its future prospects [2] - Jackpot Digital is focused on licensing its products in major markets, which is expected to enhance the adoption of its electronic poker tables in low-limit games [3] - The company specializes in dealerless multiplayer electronic poker ETGs, providing a cost-effective alternative to traditional live-dealer games, aimed at optimizing gaming offerings for operators [8] Insider Transactions - Mr. Lyle Berman has filed an early warning report detailing his acquisition of securities through the conversion of convertible debentures and the exercise of warrants [4] - Prior to recent transactions, Berman held 33,452,728 common shares and 42,622,728 warrants, representing approximately 13.03% and 13.79% of the company's outstanding shares and warrants, respectively [5] - Following the latest transactions, Berman's holdings now include 46,818,828 common shares and 38,426,628 warrants, along with convertible debentures valued at $696,750, indicating a strategic increase in his investment in the company [5][6]