The court based in the state of New York validated the agreement.
United States.- Enjoy reported through an essential fact that on October 31, 2024, the Southern District of New York Bankruptcy Court recognized the judicial reorganization agreement of the company approved in Chile by the deliberative creditors' meeting on August 7.
In a statement addressed to the Financial Market Commission, signed by the general manager of Enjoy, Esteban Rigo-Righi, the company indicated that the court validated the agreement within the framework of the procedure called "Chapter 15, Case No. 24-10433 (MG)", which they had initiated due to the judicial reorganization.
Following this, they pointed out that "the resolution issued by the Court declares, among other things, that the Agreement, including the transactions contemplated therein and its annexes, are recognized and granted full force and effect within the jurisdiction of the United States of America."
Furthermore, the court reported that it will maintain its jurisdiction regarding the procedures and actions previously taken within the processing of "Chapter 15", and future executions, modifications, or implementations necessary to materialize the effects of the Court's resolution.
“We make it known that, according to the Agreement, the recognition of the company's reorganization procedure and the Agreement within 'Chapter 15' is one of the Rescheduling Conditions indicated in chapter VIII of the Agreement,” they detailed.
On the other hand, Enjoy announced that on November 4, an extraordinary creditors' commission was held, in which it was agreed to extend the deadline for meeting the Rescheduling Conditions, from 90 days to 105 consecutive days counted from August 7, 2024, thus extending the maximum period for its fulfillment until November 20, 2024.
See also: Casinos accused of collusion in Chile: Enjoy and Dreams defend themselves
In August, Enjoy approved a judicial reorganization plan to continue its operations, and later reached an agreement with the contingent creditors that sets the terms for the company's working capital financing, reviewed by the administration.
Along with this, it was recalled that the implementation of the agreement considers its structuring into three new companies: NewCo 1, where the Punta del Este facilities, Uruguay, and two real estate assets in Chile will be located; NewCo2, which will manage the assets corresponding to casinos and hotels in Rinconada, Antofagasta, Chiloé, Viña del Mar, Coquimbo, Pucón, and Puerto Varas hotel; Enjoy S.A., mainly composed of the operations in San Antonio and Los Angeles, with the remaining assets.
After the creditors' meeting approved the judicial reorganization agreement, the intervenor of Enjoy, the jurist Juan Ignacio Jamarne, stated that, for its second phase, there is a "mandate" from the creditors for the sale of the shares that include the assets of Enjoy Punta del Este.
Abios, the esports division of Kambi, launches its Bet Builder, further expanding its esoccer product along with improvements in uptime and content availability.
Press release.- Abios has strengthened its market-leading esoccer offering with the launch of the Bet Builder along with other product enhancements, including more events and greater market availability.
The patented bet builder brings extensive combinability features to Abios's esoccer offering, providing proven experiences to attract bettors in traditional football. Bet Builder bets in football accounted for 18 percent of Kambi's network management during Euro 2024 and 24 percent in the Copa América.
Since launching its automated odds service on the Kambi network, Abios has increased the number of monthly events by 300 percent year-over-year, along with significant improvements in market availability. This has been possible thanks to the automated odds modeling of the esports division and the official data partnership with BETER.
Abios has updated its patented models to cope with the increased offering, triggering events even faster and enabling improved uptime, market efficiency, and refresh rates. The update includes several infrastructure improvements, allowing the company to increase content availability more quickly and cover more matches.
The product package will be available to operators within and outside the Kambi partner network, and already connected partners will be able to receive it instantly.
Anton Janér, founder and CEO of Abios, stated: "Esoccer has achieved tremendous success among multiple partners, as it helps operators fill the gaps in the seasonal sports calendar."
