Bragg Gaming enters US iGaming scene via Spin Games acquisition

Bragg Gaming enters US iGaming scene via Spin Games acquisition

 Bragg Gaming has formally arrived in the US gaming market scene as the company announced last Friday its successful acquisition of content provider Spin Games.

Details of the Acquisition Deal:

Bragg Gaming completed the purchase of Spin Games through a $30 million cash and stock transaction. Bragg will be paying $10 million in cash and $20 million in common shares to Spin Games. Regarding the common shares involved in the purchase, the buying company intends to issue $5 million in common shares to Spin Games upon closing the deal and pay the remaining balance over the next three years.

What does the deal mean for the companies involved?

For Bragg Gaming, the acquisition of Spin Games will immediately establish its footprints in the bustling US gaming market. The deal enables the company to secure strategic partnerships with big players in the US gaming industry.

Bragg aims to collaborate or strike business alliances with well-known gaming entities in the US gaming arena such as BetMGM / Roar Digital, Caesars, DraftKings, FanDuel, Golden Nugget, Hard Rock, Parx, Penn National Gaming, Resorts, Rush Street Interactive, TwinSpires, Unibet and WynnBet.

The Canadian-based B2B company plans to capitalize on every opportunity to cross-sell its existing casino offerings – which has achieved commercial success in Europe – while forging ahead with creating US market-centric real money slots and other content.

Executives on the Deal

Richard Carter, CEO of Bragg Gaming, said in the press release:

Spin’s existing state gaming licenses and established integrations with online casino operators, comprising the majority of the US market, uniquely positions our company for future growth in the North American market.”

“This transaction lays a strong foundation for our strategy of building a tier one vertically integrated igaming business in the US.

“We have seen from the European market that the ability to deliver best-in-class proprietary content, alongside a full turnkey igaming and player management platform, is key to building a successful B2B online casino technology provider.

“The cornerstone of our future growth strategy will involve bringing best-in-class content in-house during the early innings of the US growth story to position our company for long-term success.

“We believe this transaction will be transformative for the company, providing significant positive impact for our respective employees, customers, and shareholders.

 “Spin’s outstanding product and talented team instantly expands our local market footprint and brings a wealth of US market know-how to the group, including valuable product, technical, regulatory and compliance expertise.”

“On behalf of the entire Spin team, we are pleased to announce this acquisition which will better position the combined company to expand its support of the rapidly growing US igaming market with our proprietary and third-party content and our leading remote gaming server technology,” commented Young.

Kent Young, Spin’s founder and CEO, also expressed a great level of optimism on Bragg’s latest foray into the US Gaming scene.

“Since we became one of the first RGS and igaming content companies approved for online gaming in the US, we have grown our footprint in New Jersey, Pennsylvania and Michigan and been approved to operate in British Columbia.

“In addition to strengthening our support of our existing customers and markets, this acquisition will accelerate Spin’s ability to expand our content library, pursue new markets and leverage our technology to support igaming here and in new markets as they open. We are extremely excited to be joining the Bragg team and look forward to a highly successful future together.”

Avatar

About Lou De Aguila

Lou Ramon Aguila is a contributor for Golden Casino News. He has a degree in BSBA Legal Management with great interest in high-profile legal cases involving sports personalities. An ultimate sports junkie, he covers just about everything in the sporting world with an emphasis on the NBA, NFL, and MLB. In his past time, Lou loves to read manga, watch anime and critique pro-wrestling matches.