(PRESS RELEASE) -- Bragg Gaming Group announced today that it completed its previously announced acquisition of Spin Games LLC in a cash and stock transaction valued at approximately $30 million. The Spin Games acquisition provides for a differentiated and widely distributed iGaming product offering and accelerates Bragg’s North American growth.
Bragg will immediately leverage Spin’s U.S. iGaming relationships to introduce new proprietary and exclusive third-party online casino content developed to address the preferences of U.S. and Canadian players and to cross-sell its existing player-popular European casino content. The Company expects to launch its first proprietary games - Egyptian Magic, Fairy Dust and Paradise Ticket as well as exclusive games from partner studios – on its remote gaming server (RGS) with an initial roll-out in Connecticut, Michigan and New Jersey anticipated to begin in Q3 2022, with games in Pennsylvania expected to follow.
The combined Bragg/Spin Games’ offering positions the Company to deliver premium iGaming content into the rapidly growing U.S. market, supported by advanced player engagement technology. Bragg will deliver the benefits of its proprietary and exclusive content and technology combined with Spin Games’ local market know-how and operator relationships with more than 30 North American customers, including leading operators. Spin Games’ existing RGS and casino content are fully licensed and distributed in New Jersey, Pennsylvania and Michigan and are licensed and pending go-live in Connecticut and British Columbia, Canada. Spin Games has a proprietary content portfolio of more than 30 in-house developed games, including in high-demand categories such as slots, video poker, action bingo and keno. Spin Games will also augment Bragg’s existing content portfolio with numerous popular third-party titles from well-known, land-based slot manufacturers.
Yaniv Spielberg, Chief Strategy Officer for Bragg, said: “Combining our RGS, advanced player engagement tools, data analytics capabilities and our newest game content developed specifically to appeal to North American players, with Spin Games’ state gaming licenses and established integrations with online casino operators comprising the majority of the U.S. market significantly accelerates our entry into the North America iGaming market.
“We are positioned to quickly grow our U.S. market presence over the next several months beginning with our iGaming content and supporting game optimization technologies. In addition, our proven player account management (PAM) platform which powers several leading iGaming and sports book brands in Europe, along with our full managed operational and marketing services allows us to offer a complete solution to online gambling operators of any size in currently regulated states and as additional states approve iGaming.
“With more than 30 years of experience in the North American gaming sector, Spin Games’ founder and CEO Kent Young will serve as our President – Americas and oversee our U.S. market roll-out growth strategy. We’re delighted to welcome Kent and the entire Spin Games team to Bragg and look forward to collaboratively driving the successful execution of this key growth initiative.”
Kent Young added: “I am delighted to now be a part of the Bragg team and I’m confident the company is perfectly positioned to leverage our leading RGS technology and proprietary and third-party content to quickly execute on our U.S. and Canada iGaming expansion plan. In addition to strengthening our support of existing customers and markets, the combined company is positioned to accelerate the expansion of our propriety content library, pursue new markets, and leverage our technology to quickly support iGaming in new states and provinces as they open.”