Power Vault

About Power Vault

The big Powerball winner took advantage of Section 7.2 of the Illinois Lottery Law, which governs disclosure rules regarding winners’ identities.

Under Section 7.2, a winner of a prize of $250,000 or more can request to keep their name and municipality of residence confidential while completing their Illinois Lottery Winner Claim Form.

Though the winner elected to remain anonymous, they shared details on how the massive win came about.

What is Power Vault?

To fund the acquisition, the company intends to raise €2.5 million through a directed share issue and €6 million through convertible debt. The deal marks its return to B2C after becoming a pure play B2B platform play in 2023.

Richards tells iGB the deal is expected to be completed around the end of September and provides GiG with a “profitable, cash-generative B2C operator” and a footprint in some of Africa’s fastest-growing regulated markets.

Additionally, it gives GiG a “strategic bridgehead” for its core B2B business, the CFO says.

About Power Vault

“Not making the product available across all game suppliers and all product verticals would be a massive missed opportunity,” Wilson explains. “Wherever you can have a player placing a bet, give them the opportunity to win on the jackpot engine because it is such a sticky product.”

A branded jackpot also gives operators a visible identity across content they did not create, turning third-party games into something closer to their own ecosystem.

“There’s this huge, proven revenue opportunity, but it’s also about continuity of the brand that exists across the whole platform and the whole offering,” Wilson adds.