B2B online gaming solution provider Bragg Gaming Group Incorporated recently publicized a new acquisition deal worth $30 million, where the company secured ownership of American iGaming development studio Wild Streak Gaming.
In an official press release, the brand elaborated that the acquisition provides it instant access to a catalog of 39 video slots that are supported across both online and land-based applications. The company also explained that this deal counterparts its less recent purchase iGaming developer Spin Games to boost ‘its ability to distribute and develop high-quality online casino content to the United States market in-house.’
Nuts and bolts
The acquisition procurement comprised a cash consideration of $10 million, along with a commitment from Bragg Gaming Group Incorporated to bestow $20 million of its common shares to investors in Wild Streak Gaming over the next three years; this aspect could potentially be accelerated should a change of control occur.
Shooting for the stars
Richard Carter, the CEO at Bragg Gaming Group Incorporated, the parent company of Malta-licensed online casino, sportsbook and lottery turnkey technologies provider Oryx Gaming Limited, added his voice to the press release to lay out a few details. He advised that Wild Streak Gaming recently reported first-quarter earnings before interest, tax, depreciation and amortization of close to $241,000 from associated net revenues that came to about $487,000.
He also revealed that the acquisition is a package deal as it includes Wild Streak’s current boss, Doug Fallon who will assume the role of Group Content Managing Director to help ‘facilitate the cross-selling and repackaging’ of its European content to and for operators in the US.
Carter added, “In an industry where premium content is king, Doug and his team have built up an enviable track record of developing leading premium casino slot content for both the land-based and online casino industry. We look forward to integrating this know-how into our overall offering and significantly expanding the company’s higher-margin proprietary in-house casino slot content capabilities.”
An abundant resource
Bragg Gaming Group Incorporated further stated that Wild Streak Gaming has created a library of 39 premium casino content titles that encompass ‘several top-performing land-based titles.’ It added that this new development will additionally provide it with ‘a robust suite of intellectual property and know-how that runs to qualities as diverse as mathematic works’ with progressive game design and mechanics customized for markets in the US.
Doug Fallon elaborated, saying,
“As the trends indicate, much of the historical content designed for Europe does not resonate with the traditional American player and we believe our background is an ideal fit for Bragg Gaming Group Incorporated as it focuses on this emerging market.”