Global B2B gaming technology and content provider Bragg Gaming is all set to acquire Nevada-based B2B gaming technology and content provider Spin Games LLC. The firm currently provides its services only in the United States.
As per the deal, Bragg will acquire Spin for $30 million. $10 million will be released in cash, while the remaining $20 million in common shares. Common shares worth $ 5 million will be issued on the closing and the remaining over the next three years equivalently.
The deal will be closed once the final approval from the state gaming regulators and other customary closing conditions is received. This acquisition will enable Bragg to expand its presence and revenue from the US along with its existing European markets. It aims at capitalizing in the US and Canadian online casino markets as well with this deal.
Spin’s team of 30+ professionals will furnish technical, product, regulatory and compliance information specific to the US market to Bragg. It will also help reduce its marketing time and de-risk the US deployment.
Bragg will also get access to key operator relationships in the US like Caesars, Unibet, Golden Nugget, BetMGM/Roar Digital, Hard Rock, Parx, Rush Street Interactive and Penn National Gaming among others. The global gaming company will strategically use these relations to cross-sell its casino content in the US. The content is already present in the European markets. Simultaneously it will also develop US-centric content.
Bragg’s wholly owned subsidiary ORYX Gaming provides customizable ORYZ technology and content solutions that are developed, licensed, launched and operated for over 125 iGaming and sports betting operators worldwide. It also offers online casino, sportsbook and lottery operations. After acquiring Spin, Bragg will be able to deliver a combined offering of Spin and ORYX gaming which will provide an enhanced iGaming, sports betting and player engagement platform in the US market.
Once the deal is closed, Spin’s founder and CEO, Kent Young, will take the position of President–Americas at Bragg. He will play a crucial role in Bragg’s expansion in the US market.
Amarylisa Gonsalves is a Content Writer at Gutshot Magazine. Advancing from a marketing background, she found her calling in writing. She takes delight in exploring genres and is a curious learner. Patient and ambivert, she believes in letting her work speak for itself. Apart from content writing, she finds solace in writing poetry by manifesting herself through words. Additionally, she adores indulging in travelling, drawing and DIY crafts.
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