Bragg Gaming Acquires Spin Games
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Bragg Gaming Group (TSX:BRAG, OTC:BRGGD), a global B2B gaming technology and content provider, is to acquire Spin Games LLC, a Reno, Nevada-based B2B gaming technology and content provider currently servicing the US market.
Throught the merger, Bragg has agreed to acquire Spin for approximately USD30m. Under the deal, the sellers of Spin will receive USD10m in cash and USD20m in common shares of Bragg of which USD5m in common shares will be issued on closing and the balance over the next three years.
The transaction, which will close following final approval from state gaming regulators and satisfaction of other customary closing conditions, will allow Bragg to diversify its revenue from European markets and establish US operating presence setting to capitalize on the growing US and Canadian online casino markets as also shown by The Casino Heat in Canada.
Through its team of 30+ professionals, Spin will provide Bragg with technical, product, regulatory and compliance know-how specific to the US market, reducing time-to-market and de-risking US deployment.
Bragg will gain access to key strategic operator relationships in the US including Caesars, Unibet, Golden Nugget, BetMGM / Roar Digital,Hard Rock, Parx, Rush Street Interactive, TwinSpires, Penn National Gaming, Resorts, FanDuel, DraftKings, and WynnBet. Spin’s remote gaming server and casino content are licensed and distributed in New Jersey, Pennsylvania and Michigan, and is licensed with deployment pending in British Columbia, Canada.
The company plans to use these key relationships to cross-sell its existing casino content, which is currently live in European markets while continuing to develop its US-centric content creation.
The combined offering of Spin and Bragg’s wholly owned subsidiary ORYX Gaming positions Bragg to deliver an enhanced iGaming, sports betting and player engagement platform into the US market. The initial planning of technical integrations are currently underway. Additionally, the deal deepens Bragg’s global development resources with Spin’s existing development center located in Chennai, India.
Following the close of the deal, Kent Young, Spin’s founder and CEO, will join Bragg as President – Americas. He will play a key role in the company’s US market roll-out growth strategy.
Founded in 2012 and led by Richard Carter, Chief Executive Officer, Bragg Gaming is a global B2B gaming technology and content provider.
Through its subsidiary, called ORYX Gaming, Bragg provides modular, scalable and fully customizable ORYX Gaming technology and content solutions, which have been developed, licensed, launched and operated on behalf of more than 125 iGaming and sports betting operators worldwide. The solution offers online casino, sportsbook and lottery operations including the proprietary ORYX remote games server, ORYX Hub and the new Player Engagement Platform (PEP).
The PEP suite of engagement tools offers proven retention-boosting gamification features such as Quests, Achievements, Leaderboards, Tournaments and bespoke Jackpot game promotions.
ORYX is licensed by the Malta Gaming Authority (MGA) and the Romanian National Gambling Office (ONJN) and its content is certified or approved in 18 other major jurisdictions.
Spin Games specializes in designing and developing gaming content and interactive technologies for regulated B2B social and real money gaming markets. Produced in HTML5 format and compatible across desktop and multiple mobile applications, the Spin content portfolio includes a versatile range of proprietary and third-party titles, each featuring an engaging theme enhanced with graphics, sounds and features.
The deal is expected to close in late Q4 2021.
