GBank Financial Holdings Inc. (NASDAQ: GBFH), the parent company of GBank, saw its shares dwindle Wednesday, on word of two important approvals impacting its strategic partner BoltBetz.
First, BoltBetz has received approval from the Nevada Gaming Control Board as a software solution that allows players to create and fund a wagering account in Konami’s SYNKROS cashless wagering system via the BoltBetz mobile app.
Second, Distill and Remedy’s Taverns have received GCB approval to use the BoltBetz product as approved by the GCB Lab. The Distill approval acknowledged that since GBank will be holding all funds – and not Distill or BoltBetz – a digital fund reserve is not required.
Todd Nigro, BoltBetz CEO, stated, “After many years of planning and development, we are excited to have achieved the necessary approvals to launch our fully integrated cashless gaming platform at the nine Distill and Remedy’s locations in Las Vegas.”
GBFH CEO Ed Nigro stated, “Years of dedicated work by our partners BankCard Services, BoltBetz and GBank have resulted in this unique slot machine app (BoltBetz) and bank payments system (PPA Powered by PIMS™) that provide Licensed Gaming Operators a first of its kind slot machine funding solution.
“We look forward to providing these seamless solutions to licensed gaming slot operators in Nevada and across the United States.”
GBFH shares lost 28 cents to $35.60.
