Fantasma Games has just pulled off a game-changing business move as the online casino games provider reached an agreement to acquire Bulgarian-based game development studio, Weiner Games. 

Fantasma confirmed its first-ever acquisition in the press release dated Thursday, September 16.

Details of the Deal

Fantasma will buy Weiner Games and its assets for €700,000, of which €500,000 will be paid in cash and €200,000 in issued shares. 

The Sweden-based company went public six months ago, and one of its promises to investors was the acquisition of business units which adds value and creates a clear path to expansion.

Weiner Games stakeholders may also receive as much as €1.8m in cash or newly-issued shares out of the earn-out agreement contingent on future results.

Pending customary closing conditions, Fantasma expects to close the deal on October 2021, officially ushering a new chapter in the company. 

The company claimed Weiner Games assets provides another business arm tasked to develop games for an exclusive group of operators, separated from their operations in Sweden. 

The Sofia-headquartered Wiener Games has posted an average turnover of approximately €350,000 since 2018.

Founded in 2014, the independent game development firm maintains a small but creative group of developers. Over the years, the studio has worked with many prominent brands in the iGaming industry, including Relax Gaming, Leo Vegas, Microgaming, and Skywind.

Quotes from the Press Release

Jacob Sachs, CEO of Fantasma Games, commented on the acquisition of Wiener Games: “Wiener Games, for its part, have a strong production apparatus, but a limited distribution capacity. The acquisition solves both our problems while adding a new revenue stream for us by way of a completely new business model.”

Konstantin Dinev, Wiener Games’ CEO, added: “Through Fantasma Games, which has made a name for itself in the industry in a short time, we will further broaden our network of contacts and also be able to create and distribute our own games.”