LL Lucky Games has agreed to purchase ReelNRG for $872,000 in cash

LL Lucky Games has agreed to purchase ReelNRG for $872,000 in cash

LL Lucky Games, a Swedish creator of online slots titles, said it plans to acquire the British gaming studio ReelNRG in a deal worth around $870,000. 

LL Lucky Games will acquire ReelNRG

After receiving LL Lucky Games’ letter of intent and approving the purchase, the UK-based developer began negotiating the price and details of the transaction with the game developer in China.

According to the information provided by the two parties, the Swedish studio will contribute the aforementioned cash in exchange for a total of 2.5 million freshly issued ReelNRG shares.

The transaction is expected to be completed by the end of April at the latest. LL Lucky Games will effectively obtain access to the brand’s 46 proprietary titles as a result of its acquisition of ReelNRG. The British operator has been granted licenses in its home market as well as in the British overseas territories of Gibraltar and Malta.

The developer was established in 2016 and currently employs eight developers who are based at a studio in the Indian city of Hyderabad.

In the event that RellNRG is acquired, the company will retain a degree of independence and will be able to continue the development of its games. Furthermore, it will reap the benefits of cross-selling with its new owner in the future.

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The British Studio leads to expansion

As Calvin Kent, the chief executive officer of ReelNRG termed the acquisition by LL Lucky Games as an “essential new start” for the British slots developer, he was right to point out that the transaction was a good thing. He went on to say that the additional assistance his company would receive from its new owner will enable it to stand up stronger than ever in the future. Kent stated that he expects ReelNRG will be able to increase the delivery of its products to clients and customers as a result of the acquisition.

Following completion of the new server architecture and subsequent optimization and scaling, the CEO stated that the studio was ready to scale. He revealed that the shareholders of ReelNRG are also excited about the acquisition by LL Lucky Games and are pleased to be able to continue to support the British game developer in the future. Chief executive officer of LL Lucky Games, Mads V. Jørgensen, is pleased with the company’s latest acquisition. He emphasized the importance of the company by mentioning the important licenses that ReelNRG possesses and the company’s extensive portfolio of proprietary titles.

In addition to acquiring the British supplier, LL Lucky Games will now have a portfolio of more than 100 games to offer players. In his explanation, Jorgensen stated that this will benefit both companies because it will allow them to cross-sell more effectively and increase the efficiency of their operations. And, perhaps most importantly, Jorgensen is overjoyed that this significant step helps secure and strengthen LL Lucky Games’ position as a fully independent studio focused on regulated gambling markets.

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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.