Canadian online gaming innovator Bragg Gaming Group Incorporated has announced the signing of a deal worth $30 million that has seen it buy American iGaming content creation studio Wild Streak Gaming.
The Toronto-headquartered company used an official Wednesday press release to declare that the acquisition has given it immediate access to a portfolio of 39 video slots that are ‘supported across online and land-based applications’. It pronounced that the arrangement will also complement its purchase last month of iGaming innovator Spin Games to increase ‘its ability to distribute and develop high-quality online casino content to the United States market in-house.’
Bragg Gaming Group Incorporated, stated that its latest acquisition procurement has involved a cash consideration of $10 million as well as a commitment to bequeath some $20 million of its own common shares to investors in Wild Streak Gaming over the course of the next three years, which is an aspect that could be accelerated ‘in the event of a change of control.’
Richard Carter serves as the Chief Executive Officer for Bragg Gaming Group Incorporated, which is the parent of Malta-licensed online casino, sportsbook and lottery turnkey technologies provider Oryx Gaming Limited, and he used the press release to detail that Wild Streak Gaming recently chalked up first-quarter earnings before interest, tax, depreciation and amortization of approximately $241,000 from associated net revenues in the region of $487,000. He moreover divulged that the purchase will involve this entity’s current boss, Doug Fallon, joining his own firm’s ranks as Group Content Managing Director to help ‘facilitate the cross-selling and repackaging’ of its own European content to operators in the United States.
Read a statement from Carter…
“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.”
Bragg Gaming Group Incorporated additionally asserted that Wild Streak Gaming has developed ‘a library of 39 premium casino content titles’ that encompass ‘several top performing land-based titles.’ It proclaimed that the firm’s acquisition will furthermore supply it with ‘a robust suite of intellectual property and know-how’ that runs to qualities as diverse as ‘mathematic works’ alongside advanced game design and mechanics that have been ‘specifically tailored’ for markets in the United States.
Fallon’s statement read…
“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 with for Bragg Gaming Group Incorporated as it focuses on this emerging market.”