09:49 AM EDT, 07/26/2024 (MT Newswires) -- Playgon Games ( PLGNF ) , a SaaS technology company servicing gaming operators, traded at an all-time low of $0.015 on the TSX Venture Exchange after the Nevada Gaming Control board (NGCB) ordered the company to halt operations at its Las Vegas studio.

Playgon has complied with the order and engaged additional Nevada legal counsel, noting that the interruption is expected to result in material adverse effects to Playgon, the company said.

"While our legal advisors maintain that our operations were within the bounds of the law, they have advised that challenging the NGCB's authority would be complex and unlikely to succeed in a timely manner," the company said in a statement on Friday.

Playgon's business is exclusively outside the U.S. and does not target Nevada or any U.S. state operators or players.

The company is actively exploring all available options to ensure minimal disruption to its services, including accelerating plans to expand its studio operations to other jurisdictions.

Price: 0.02, Change: -0.01, Percent Change: -25.00