Bragg Gaming, an online casino software provider, has agreed to purchase Spin Games. The purchase price for this acquisition is estimated to be $30 million. It will lay the groundwork for Bragg Gaming’s expansion plans in the United States and allow the company to begin operations there right now.
Sellers of Nevada-based B2B gaming technology and content company Spin Games will earn $10 million in cash, under the terms of the agreement. Twenty million dollars’ worth of common shares in Bragg Gaming are included. The first $5 million in common shares will be issued upon closing, with the remaining $5 million issued over the next three years.
Rare Opportunity for Expansion
The majority of the United States market, according to Bragg Gaming CEO Richard Carter’s statement, is covered by Spin Games’ current state gaming licenses and established integrations with online casino operators. This puts the firm in a very advantageous position for further expansion in the North American market.
Mr. Carter noted that this transaction paves the way for Bragg to realize its goal of being a leading vertically integrated iGaming company in the United States. He stated that the company has learned from the European market that providing first-rate unique content and a comprehensive iGaming and player management platform are essential to the growth of a B2B online casino technology provider.
Foundation For Future Growth
The CEO continued by saying that the company plans to bring the best content in-house in the early stages of its expansion in the United States as part of its future growth strategy. As a result, Bragg Gaming will be set up for greater long-term success. It is expected that this deal would have a profound effect on the online gaming business. All parties involved (workers, stockholders, and customers) will benefit greatly.
Bragg Gaming will have access to crucial operator ties in the US market as a result of this deal. You can choose from a wide variety of reputable brands like Caesars, BetMGM/Roar Digital, Hard Rock, Penn National Gaming, DraftKings, and Golden Nugget.
The company hopes to use them to promote its current suite of online gambling products. The European market is live with these offerings right now. Kent Young, CEO of Spin Games, is joining Bragg as president of the Americas, effective immediately. Young has more than 30 years of experience in his field. His primary responsibility will be to oversee the company’s expansion into the American market.