Wed, May 22, 12:15pm by Staff Writer
CCP Technologies Limited has scored a victory in the United States, with the company announcing that its smart-sensor temperature control technology would be deployed at a new casino in Boston.
Stockhead is reporting that the deal would increase group revenues by 10 per cent, an amount it didn’t classify as “material”.
However, the company was optimistic about the fact that it mark’s CCP’s first break into the US market.
Shares in CCP jumped by as much as 60 per cent in the morning trade after the announcement, before easing back slightly.
Despite this morning’s surge, CCP’s share price is still well off its January 2018 high of four cents.
The company is looking to chalk up some wins after a steady run of losses, including a disastrous foray into cryptocurrency, key management changes and an effort to raise more capital.
CCP scored the deal through Koolmax, its US distribution partner that provides refrigeration services of its own.
The company said the price-point for the sale would remain under wraps until installation was completed at the end of July.
Also remaining commercial-in-confidence is the name of the casino in question, which requested that its name be held out of the announcement.
Casino operator Wynn Resorts owns the only gaming licence in Boston and is set to open the US$2.6 billion casino in the city later this year.
CCP said it already received the purchase order and had arranged shipment of the relevant products.
It referred to the deal as a “defining commercial milestone that is anticipated to yield ongoing opportunities at other sites.”
Based in Australia, CCP Technologies Limited (ASX: CT1) offers IoT technology solutions and helps its customers by providing hardware, firmware and software development services. https://t.co/CxA8c9kOOw
— KALKINE (@kalkineau) May 21, 2019
Online gaming company eSports Mogul came out of a trading halt and immediately jumped 30 per cent after announcing its recent cap raise was heavily oversubscribed.
It follows news last week that the company will provide an eSports gaming platform for the Alliance stable of online games, including Fortnite.
ESH said it received “overwhelming demand from domestic and overseas institutional investors”, along with its existing shareholders.
A Las Vegas casino and the University of Nevada, Las Vegas say they are partnering to create a teaching and practice space featuring a mock casino, hotel rooms, sports betting area and esports arena.
The Times Union is reporting that Caesars Entertainment Corp and the university have dubbed the centre “Black Fire Innovation” and officials say it will provide a 3,995 square metre space to host, develop and market hospitality products and ideas.
“Black Fire Innovation has space you can really test out that idea and build the next prototype, or engage elbow-to-elbow with a corporation to move that (idea) forward to some type of life-changing product or services,” Zach Miles, UNLV associate vice president for economic development, told the Las Vegas Review Journal.
The space will be built at UNLV’s Harry Reid Research and Technology Park, southwest of the Las Vegas Strip.
The two-storey facility will include a student lab, work space and a replica resort and casino with slot machines and table games.
“This collaboration with Caesars Entertainment will strengthen UNLV’s role as a research leader and further elevate Las Vegas as the global intellectual capital for gaming and hospitality,” UNLV president Marta Meana told the Las Vegas Sun in a statement.
“Collaborations like Black Fire also give our students unparalleled access to experts at the forefront of the industry,” Meana said.
Caesars Entertainment executive vice president Les Ottolenghi called the effort a natural partnership.
“Our industry is highly competitive and rapidly evolving, so we have to continuously innovate to ensure our future as we establish new business models and revenue streams,” Ottolenghi told the Review-Journal in an email.
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