TORONTO–(BUSINESS WIRE)–Global B2B gaming expertise and content material supplier Bragg Gaming Group (TSX:BRAG, OTC:BRGGD) (“Bragg” or the “Company“) has entered into a definitive settlement to accumulate Spin Games LLC (“Spin”), a Reno, Nevada based mostly B2B gaming expertise and content material supplier at present servicing the US market (the “Transaction”), topic to regulatory approval.
Bragg and Spin immediately introduced they’ve entered into a merger settlement, below which Bragg has agreed to accumulate Spin in a money and inventory transaction for a purchase order value of roughly USD30 million. Under the deal the sellers of Spin will obtain USD10 million in money and USD20 million in widespread shares of Bragg of which USD5 million in widespread shares can be issued on closing and the stability over the subsequent three years. The Transaction will shut following last approval from state gaming regulators and satisfaction of different customary closing circumstances.
The Transaction provides a compelling strategic and monetary rationale and is in step with Bragg’s beforehand introduced technique to diversify its income from European markets and develop its US operations to capitalize on the rising US and Canadian on-line on line casino markets. The Transaction serves to instantly set up Bragg’s US working footprint setting the basis for the Company’s progress technique in the area.
Spin, via its staff of 30+ professionals will present Bragg with quick technical, product, regulatory and compliance know-how particular to the US market, decreasing time-to-market and de-risking US deployment. Following closing, Spin’s founder and CEO Kent Young, who brings over 30 years of gaming sector govt expertise, will instantly be part of Bragg as President – Americas and can play a key position in the Company’s US market roll-out progress technique.
Through the Transaction Bragg will acquire entry to key strategic operator relationships in the US together with BetMGM / Roar Digital, Caesars, FanDuel, Golden Nugget, Hard Rock, DraftKings, TwinSpires, Penn National Gaming, Resorts, Parx, Rush Street Interactive, Unibet and WynnBet. The Company intends to leverage these key operator relationships to cross-sell its present on line casino content material at present dwell in European markets whereas persevering with to develop its US-centric content material creation. Spin’s distant gaming server and on line casino content material are absolutely licensed and distributed in New Jersey, Pennsylvania and Michigan, and is licensed with deployment pending in British Columbia, Canada.
The mixed providing of Spin and Bragg’s wholly owned subsidiary ORYX Gaming (“Oryx”), positions the Company to ship an enhanced full turnkey iGaming, sports activities betting and participant engagement platform into the quickly rising US market. The preliminary planning of technical integrations between Spin and Oryx are at present underway and the mixed providing delivers the advantages of Oryx’s superior turnkey Player Engagement Platform with Spin’s expertise, native market know-how and US operator relationships. Additionally, the Transaction deepens Bragg’s world improvement sources with Spin’s present improvement middle situated in Chennai, India.
“Spin’s present state gaming licenses and established integrations with on-line on line casino operators, comprising the majority of the US market uniquely positions our Company for future progress in the North American market” stated Richard Carter, Chief Executive Officer of Bragg Gaming. “This transaction lays a robust basis for our technique of constructing a tier one vertically built-in iGaming enterprise in the US.”
“We have seen from the European market that the potential to ship best-in-class proprietary content material alongside a full turnkey iGaming and participant administration platform is essential to constructing a profitable B2B on-line on line casino expertise supplier. The cornerstone of our future progress technique will contain bringing best-in-class content material in-house throughout the early innings of the US progress story to place our firm for long-term success.
“We consider this Transaction can be transformative for the Company, offering vital optimistic influence for our respective staff, clients, and shareholders. Spin’s excellent product and gifted staff immediately expands our native market footprint and brings a wealth of US market know-how to the group, together with precious product, technical, regulatory and compliance experience.
“We welcome Kent and the complete staff onboard and we sit up for combining Spin and Oryx capabilities to supply new full turnkey gaming options in the US and Canadian iGaming industries.”
“On behalf of the total Spin staff, we’re happy to announce this acquisition which can higher place the mixed firm to develop its assist of the quickly rising US iGaming market with our proprietary and third-party content material and our main distant gaming server expertise,” commented Kent Young, Spin Games’ Founder and Chief Executive Officer.
“Since we grew to become one in every of the first RGS and that iGaming content material corporations permitted for on-line gaming in the US, we now have grown our footprint in New Jersey, Pennsylvania and Michigan and been permitted to function in British Columbia. In addition to strengthening our assist of our present clients and markets, this acquisition will speed up Spin’s potential to develop our content material library, pursue new markets and leverage our expertise to assist iGaming right here and in new markets as they open. We are extraordinarily excited to be becoming a member of the Bragg staff and sit up for a extremely profitable future collectively.”
Spin Games Highlights
- Proprietary ROC™ distant gaming server and on line casino recreation titles developed by in-house studios in North America and Chennai, India.
- Licensed to distribute a spread of extremely in style iGaming titles from quite a few top-tier suppliers.
- Integrated with all the main US iGaming operators, together with BetMGM / Roar Digital, Caesars, FanDuel, Golden Nugget, Hard Rock, DraftKings, TwinSpires, Penn National Gaming, Resorts, Parx, Rush Street Interactive, Unibet and WynnBet.
- Licensed and dwell in New Jersey, Pennsylvania and Michigan; licensed with deployment pending in British Columbia, Canada.
- Founded in 2012 by iGaming entrepreneur and former senior Aristocrat and Aruze govt Kent Young.
- Founder Kent Young is a gaming trade veteran with over 30 years’ expertise in the sector. He has held quite a few govt positions inside the gaming trade together with at Aristocrat, the place he spent ten years. After leaving Aristocrat he based, and later bought, third-party content material firm True Blue Gaming to Aruze Gaming the place he held the place of General Manager – USA. Kent has served as a board member to GSA and a committee advisor to G2E.
Bragg Gaming Group Highlights
- Leading world business-to-business gaming expertise and content material supplier serving markets primarily in Europe and Latin America through its proprietary ORYX Gaming full turnkey answer.
- Its modular, scalable and absolutely customizable ORYX Gaming expertise and content material options have been developed, licensed, launched and operated on behalf of greater than 125 iGaming and sports activities betting operators worldwide.
- The full ORYX turnkey answer provides on-line on line casino, sportsbook and lottery operations together with the proprietary ORYX distant video games server, ORYX Hub and the highly effective new Player Engagement Platform (PEP).
- The revolutionary PEP suite of engagement instruments provides confirmed retention-boosting gamification options resembling Quests, Achievements, Leaderboards, Tournaments and bespoke Jackpot recreation promotions.
- Richard Carter was lately introduced as CEO of Bragg, transferring from the place of Chairman he has held since October 2020.
The Transaction is predicted to shut in late This autumn 2021, topic to customary working capital changes, required regulatory approvals and different customary closing circumstances.
About Spin Games
A frontrunner in Remote Gaming Server expertise and interactive content material, Spin Games focuses on designing and growing world-class gaming content material and best-in-class interactive applied sciences for regulated B2B social and actual cash gaming markets. Produced in HTML5 format and suitable throughout desktop and a number of cellular functions, the Spin content material portfolio features a versatile vary of proprietary and third-party titles, every that includes a singular and fascinating theme enhanced with stellar graphics, sounds and options.
Founded in Reno, Nevada in 2012, Spin Games has content material and RGS licensing agreements with quite a few top-tier gaming content material suppliers together with Konami Gaming, Everi and Incredible Technologies. Additional details about Spin Games is offered on-line at www.spingames.net.
About Bragg Gaming Group
Bragg Gaming Group (TSX:BRAG, OTC:BRGGD) is a worldwide B2B gaming expertise and content material supplier. Since its inception in 2012, Bragg has grown to incorporate operations throughout Europe and Latin America and is increasing into a world pressure inside the rising world on-line gaming market.
Through its wholly owned subsidiary ORYX, Bragg delivers an revolutionary business-to-business iGaming platform, on line casino content material aggregator, managed sportsbook and managed companies supplier, providing cutting-edge content material from main studios.
Bragg’s ORYX Gaming is licensed by the Malta Gaming Authority (MGA) and the Romanian National Gambling Office (ONJN) and its content material is licensed or permitted in 18 different main jurisdictions. Underpinning Bragg Gaming Group’s dedication to data safety, ORYX Gaming was lately awarded an ISO/IEC 27001 certificates.
Cautionary Statement Regarding Forward-Looking Information
This information launch might include forward-looking statements or “forward-looking data” inside the which means of relevant Canadian securities legal guidelines (“forward-looking statements”). Often, however not all the time, forward-looking statements may be recognized by the use of phrases resembling “plans”, “expects” or “doesn’t count on”, “is predicted”, “finances”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “doesn’t anticipate”, or “believes”, or describes a “aim”, or variation of such phrases and phrases or state that sure actions, occasions or outcomes “might”, “might”, “would”, “may” or “will” be taken, happen or be achieved.
Forward-looking statements on this information launch embody, however should not restricted to, data and statements concerning: the anticipated advantages of the Transaction; the Company’s perception that the Transaction could have a optimistic influence on its staff, clients and shareholders; the Company acquiring and/or satisfying customary approvals and circumstances; and expectations for different financial, enterprise, and/or aggressive components.
All forward-looking statements mirror the Company’s beliefs and assumptions based mostly on data out there at the time the statements had been made. Actual outcomes or occasions might differ from these predicted in these forward-looking statements. All of the Company’s forward-looking statements are certified by the assumptions which are said or inherent in such forward-looking statements, together with the assumptions listed beneath. Although the Company believes that these assumptions are cheap, this checklist is just not exhaustive of things which will have an effect on any of the forward-looking statements. The key assumptions which were made in reference to the forward-looking statements embody the following: the influence of COVID-19 on the enterprise of the Company; the countercyclical progress of the enterprise of the Company; the regulatory regime governing the enterprise of the Company; the operations of the Company; the services and products of the Company; the Company’s clients; acquisition alternatives; the progress of the Company’s enterprise, which is probably not achieved or realized inside the time frames said or in any respect; and the anticipated dimension and/or income related to the gaming market globally.
Forward-looking statements contain recognized and unknown dangers, future occasions, circumstances, uncertainties and different components which will trigger precise outcomes, efficiency or achievements to be materially totally different from any future outcomes, prediction, projection, forecast, efficiency or achievements expressed or implied by the forward-looking statements. Such components embody, amongst others, the following: dangers related to common financial circumstances; adversarial trade occasions; future legislative and regulatory developments; the lack of ability to entry ample capital from inner and exterior sources; the lack of ability to entry ample capital on beneficial phrases; realization of progress estimates, revenue tax and regulatory issues; the potential of the Company to implement its enterprise methods; competitors; financial and monetary circumstances, together with volatility in curiosity and change charges, commodity and fairness costs; the estimated dimension of the gaming market globally; modifications in buyer demand; disruptions to our expertise community together with laptop techniques and software program; pure occasions resembling extreme climate, fires, floods and earthquakes; and dangers associated to well being pandemics and the outbreak of communicable illnesses, resembling the present outbreak of COVID-19.
Although the Company has tried to establish vital components that might trigger precise actions, occasions or outcomes to vary materially from these described in forward-looking statements, there could also be different components that trigger actions, occasions or outcomes to not be as anticipated, estimated or meant. There may be no assurance that forward-looking statements will show to be correct, as precise outcomes and future occasions might differ materially from these anticipated in such statements. Accordingly, readers shouldn’t place undue reliance on forward-looking statements.
Any forward-looking assertion made by the Company on this information launch or the earnings name relies solely on data at present out there to the Company and speaks solely as of the date on which it’s made. Except as required by relevant securities legal guidelines, the Company nor any of its administration or administrators undertake no obligation to publicly replace any forward-looking assertion, whether or not written or oral, which may be made now and again, whether or not on account of new data, future developments or in any other case.
Neither TSX nor its Regulation Services Provider (as that time period is outlined in the insurance policies of the TSX) accepts duty for the adequacy or accuracy of this information launch.
