Acres Closes $10.9m Private Placement and Introduces Casino Bonus Triggered by Live Sporting Events
Irvine, CA & Las Vegas, NV, October 5, 2021 -- Boustead Securities, LLC (Boustead) client Acres Technology announced the closing of its $10.9m private placement offering and through its affiliate, Acres Manufacturing Company (AMC) introduced the PayAction™ Sports Bonus as part of its 2021 Global Gaming Expo lineup. The unique bonus uses a live sports data feed to trigger a bonus round on any slot machine connected to AMC’s Foundation™ casino management system.
“Foundation gives casinos unprecedented ability to connect slot machine behavior with live real-world events,” said Noah Acres of AMC. “Players are going to love the feeling of winning more just because their favorite team scored, and we believe they’ll be willing to play more just to experience the thrill.”
The PayAction™ Sports Bonus works by interfacing a live sports data feed with any slot machine connected to the Foundation™ casino management system. When a goal, touchdown or other configured event occurs, all designated machines enter a bonus sequence that is automatically paid to the game’s credit meter.
“These machines intends to double whenever the Golden Knights score in an NHL game,” said Noah Acres, gesturing towards a bank of slot machines at AMC’s office during a recent Golden Knights preseason NHL game. When Vegas scored a goal early in the 2nd period, a loud goal horn sounded, and AMC’s slot machines entered a celebration mode indicating that all pays would be doubled for 90 seconds.
The company describes the bonus as highly configurable, with casinos able to select any team or player in any sport into the promotion. Any measurable statistic can be used to trigger the bonus and prizes can be paid to the game’s credit meter or to the Acres Wallet in either cashable or non-cashable credits. Eligibility can also be configured to ensure profitable operation of the bonus.
“We’re actively negotiating with sports franchises, athletes and brands interested in distributing their own branded jackpots,” said Noah Acres. “PayAction is just the latest example of how AMC is using Foundation to reinvent the player experience.”
Boustead Securities, LLC served as exclusive placement agent for the Acres Technology private placement offering.
About Acres Manufacturing Company
Acres Manufacturing Company (AMC) is a leading casino loyalty and technology expert and the creator of Foundation™, the first-of-its-kind casino management system. Foundation provides casinos with real-time data from slot machines and a direct interface to the credit meter on any slot machine. AMC was founded by John Acres, the inventor of casino systems technology. For more information on Acres Manufacturing Company and Foundation, visit acresmanufacturing.com.
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About Boustead Securities, LLC
Boustead Securities, LLC is an investment banking firm that executes and advises on IPOs, mergers and acquisitions, capital raises and restructuring assignments in a wide array of industries, geographies and transactions, for a broad client base. Boustead’s core value proposition is the ability to create opportunity through innovative solutions and tenacious execution. With experienced professionals in the United States, Boustead’s team moves quickly and provides a broad spectrum of sophisticated financial advice and services. Boustead is a majority-owned subsidiary of Boustead & Company Limited, a diversified non-bank financial institution. For more information visit please visit: www.boustead1828.com
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