Bragg Gaming Group (TSX:BRAG, OTC:BRGGD), a worldwide B2B gaming know-how and content material supplier, is to amass Spin Games LLC, a Reno, Nevada-based B2B gaming know-how and content material supplier presently servicing the US market.
Throught the merger, Bragg has agreed to amass Spin for roughly USD30m. Under the deal, the sellers of Spin will obtain USD10m in money and USD20m in frequent shares of Bragg of which USD5m in frequent shares can be issued on closing and the stability over the subsequent three years.
The transaction, which can shut following ultimate approval from state gaming regulators and satisfaction of different customary closing situations, will permit Bragg to diversify its income from European markets and set up US working presence setting to capitalize on the rising US and Canadian on-line on line casino markets as additionally proven by The Casino Heat in Canada.
Through its crew of 30+ professionals, Spin will present Bragg with technical, product, regulatory and compliance know-how particular to the US market, lowering time-to-market and de-risking US deployment.
Bragg will achieve entry to key strategic operator relationships within the US together with Caesars, Unibet, Golden Nugget, BetMGM / Roar Digital,Hard Rock, Parx, Rush Street Interactive, TwinSpires, Penn National Gaming, Resorts, FanDuel, DraftKings, and WynnBet. Spin’s distant gaming server and on line casino content material are licensed and distributed in New Jersey, Pennsylvania and Michigan, and is licensed with deployment pending in British Columbia, Canada.
The firm plans to make use of these key relationships to cross-sell its current on line casino content material, which is presently stay in European markets whereas persevering with to develop its US-centric content material creation.
The mixed providing of Spin and Bragg’s wholly owned subsidiary ORYX Gaming positions Bragg to ship an enhanced iGaming, sports activities betting and participant engagement platform into the US market. The preliminary planning of technical integrations are presently underway. Additionally, the deal deepens Bragg’s world growth assets with Spin’s current growth middle situated in Chennai, India.
Following the shut of the deal, Kent Young, Spin’s founder and CEO, will be a part of Bragg as President – Americas. He will play a key function within the firm’s US market roll-out development technique.
Founded in 2012 and led by Richard Carter, Chief Executive Officer, Bragg Gaming is a worldwide B2B gaming know-how and content material supplier.
Through its subsidiary, known as ORYX Gaming, Bragg offers modular, scalable and totally customizable ORYX Gaming know-how and content material options, which have been developed, licensed, launched and operated on behalf of greater than 125 iGaming and sports activities betting operators worldwide. The resolution affords on-line on line casino, sportsbook and lottery operations together with the proprietary ORYX distant video games server, ORYX Hub and the brand new Player Engagement Platform (PEP).
The PEP suite of engagement instruments affords confirmed retention-boosting gamification options akin to Quests, Achievements, Leaderboards, Tournaments and bespoke Jackpot recreation promotions.
ORYX is licensed by the Malta Gaming Authority (MGA) and the Romanian National Gambling Office (ONJN) and its content material is licensed or authorised in 18 different main jurisdictions.
Spin Games focuses on designing and growing gaming content material and interactive applied sciences for regulated B2B social and actual cash gaming markets. Produced in HTML5 format and suitable throughout desktop and a number of cell purposes, the Spin content material portfolio features a versatile vary of proprietary and third-party titles, every that includes an interesting theme enhanced with graphics, sounds and options.
The deal is predicted to shut in late This fall 2021.