Bragg Gaming Acquires Wild Streak Gaming, for USD30M
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Bragg Gaming Group (TSX:BRAG, OTC: BRGGD), a Toronto, Canada-based global B2B iGaming technology and content provider, recently acquired Wild Streak Gaming, a Las Vegas, Nevada-based game studio which specializes in casino slot game design.
The deal, announced at the beginning of June 2021, enables Bragg to acquire all of the outstanding interests of Wild Streak in cash and stock, for approx. USD30m.
Through the deal, the sellers of Wild Streak received USD10m in cash at closing and will get USD20m worth of common shares of Bragg during the next three years.
Led by Doug Fallon, founder and CEO, Wild Streak Gaming specializes in casino slot game design supporting land-based casinos, online real money casinos and social gaming applications.
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The studio, which partners with clients in slot design, portfolio management and marketing, currently has a portfolio of 39 premium casino slot titles across online and land-based applications. Its game content is distributed across six land-based platforms globally including traditional Class 3 casinos, video lottery terminal (VLT), limited payout machines (LPM) and Class 2 casino markets.
Wild Steak has collaborated and deployed game content with such manufacturers as IGT and Scientific Games. Titles include Dragon Power, Congo Cash, Temujin Treasures, and Amazing Money Machine, among others.
The studio reported USD1.05M in revenue and USD233,000 of EBITDA in FY2020, and USD487,000 in revenue and USD241,000 of EBITDA in Q12021.
The acquisition will enable Bragg to advance its acquisition strategy by increasing its ability to develop and distribute online casino content to the US market in-house, to add a library of 39 casino content titles, including several land-based titles, and a suite of intellectual property and know-how which includes advance game mechanics, mathematic works, game designs, and features which are tailored for US markets.
Fallon, who is a land-based slot designer with over 20 years of experience and worked in executive marketing and design positions at IGT, Aristocrat, Scientific Games and Konami, before launching the studio, will join Bragg as MD of Group Content. He will play a meaningful role in leading the company through its US content creation strategy while also collaborating with the European dev staff to facilitate the cross-selling and repackaging of Europe-based content for US operators.
This acquisition followed the purchase, announced in May 2021, of Spin Games, a Reno, Nevada-based B2B gaming technology and content provider currently serving the US market, in a cash and stock transaction of approximately USD30m. Upon the close of the purchases of Wild Streak, and Spin Games, Bragg will have executed on its business strategy of acquiring the resources and tech assets to become a vertically integrated B2B iGaming business operating in US and Canadian markets.
Led by Richard Carter, CEO, Bragg Gaming is a global business-to-business gaming technology and content provider serving markets primarily in Europe and Latin America. Its proprietary ORYX Gaming solution offers online casino, sportsbook and lottery operations including the proprietary ORYX remote games server, ORYX Hub and the new Player Engagement Platform (PEP). It is developed, licensed, launched and operated on behalf of more than 125 iGaming and sports betting operators globally. The PEP suite of engagement tools offers retention-boosting gamification features such as Tournaments, Quests, Leaderboards, Achievements, and Jackpot game promotions.
