LOS ANGELES, CA / ACCESSWIRE / October 10, 2024 / Greenlite Ventures, Inc. (OTC PINK:GRNL) is pleased to announce the successful completion of its acquisition of Grin Gaming (GRIN), finalizing the deal outlined in the previously signed Asset Purchase LOI. This strategic acquisition marks a significant milestone in GRNL's ongoing efforts to disrupt the sports betting industry through AI-driven innovation.
With this merger, GRNL gains full access to Grin Gaming's sophisticated suite of AI-powered tools, including their in-game platform and player prop pricing engines. These systems have been widely recognized for their ability to serve both parimutuel and peer-to-peer markets, helping to generate over $5 million in revenue for Grin Gaming over the past three years. Grin Gaming has also raised nearly $5 million in investment capital and positioned itself as a leader in the micro-betting space for both B2C and B2B applications.
As part of the acquisition, GRNL plans to fully integrate Grin Gaming's backend in-play data platform and its consumer-facing platforms. The integration is expected to be complete ahead of GRNL's planned Super Bowl marketing campaign, which will promote the full range of AI-driven products.
Grin Gaming's expertise extends beyond AI pricing engines and in-game micro-gaming to include proprietary language processing systems that enable highly customized chatbots and voice-activated software execution. This technology will play a crucial role in enhancing the user experience for GRNL's betting platforms providing a seamless, user-friendly interface.
"We are thrilled to have officially closed this acquisition with Grin Gaming," said Rafael Groswirt, CEO of Greenlite Ventures, Inc. "Their cutting-edge AI technology and developmental expertise align perfectly with our goals for our company. This acquisition accelerates our entry into new sectors, and we are confident that our combined technologies will set a new standard for sports betting systems. This integration will not only drive revenue but will also enable us to capitalize on the rapidly evolving sports betting landscape."
About Greenlite Ventures, Inc.
Greenlite Ventures, Inc. (GRNL) is at the forefront of leveraging Artificial Intelligence and peer-to-peer sports betting algorithms through its No Limit Technology platform. The company's sports advisory services and decentralized betting platforms are poised to transform the sports betting industry by providing innovative, AI-driven solutions that offer unprecedented benefits to users.
Website: https://greenliteventures.com
SAFE HARBOR STATEMENT
This press release contains certain "forward-looking statements," as defined in the United States Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and the actual results and future events could differ materially from management's current expectations. The economic, competitive, governmental, technological risks pertaining to the Company's business may cause actual results or events to differ materially from those described in the forward-looking statements in this press release. The Company undertakes no obligation to publicly update or revise any forward-looking statements whether as a result of new information, future events or otherwise. No information in this publication should be interpreted as any indication whatsoever of the Company's future revenues, results of operations, or stock price.
Contact Information
Jeff Deforrest
Communications Director
ir@greenliteventures.com
954 288 4725
SOURCE: Greenlite Ventures, Inc.
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