Bragg Gaming Group is set to expand its presence in the US further after it has announced the acquisition of Wild Streak, a casino games producer based in Las Vegas.
According to the company’s official statement, the deal will increase its ability to create and distribute online casino content to customers in the rapidly-growing US market.
Another Crucial Move
Under the provisions of the purchase agreement, Bragg will pay $30 million in cash and stock. The online gambling solutions company paid $10 million in cash immediately after the transaction was closed, while Wild Streak’s sellers will receive the remaining $20 million in Bragg’s common shares over the period of three years.
The news about Bragg’s latest acquisition comes only a couple of weeks after the company announced the purchase of Reno-headquartered gaming studio Spin Games in a cash and stock deal worth $30 million.
At this moment, Wild Streak has a portfolio of 39 games and is primarily focused on developing gaming content for land-based casinos. However, the studio has shifted its focus to the online sector, customizing its offering for numerous online gambling markets across the US and Europe.
As the latest part of the Bragg Group, Wild Streak will continue to customize its content offering for the increasingly popular US market. In addition to that, the gaming studio will keep on offering its online games to customers. One of its most popular titles is Dragon Power, which has been very popular among online casino players in New Jersey.
For Bragg, the successful completion of the two latest acquisitions represents an integral part of the current expansion strategy. Once the process of integrating Spin Games and Wild Streak is done, the company will have the resources and technology assets needed to become one of the leading online gambling businesses in the US and neighboring Canada.
That way, Bragg will be able to offer customers its fully vertically-integration B2B services.
Focusing on Further Growth
After consolidating its operations, the renowned gaming company will boast an offering that includes complete turnkey online gambling, delivery of high-quality content, and Player Engagement Platform. The latter will be integrated into markets across the US and Europe. At the same time, the development of in-house content will continue, focusing on localized needs. All of this will enable Bragg to increase its lineup of proprietary software further.
Wild Streak is led by Doug Fallon and his team of skilled professionals with over twenty years of vast industry experience. The gaming studio has been working together with some of the biggest US land-based companies to create games and design mechanics found in brick-and-mortar casinos across the US.
Following the acquisition, Fallon will be named Managing Director of Group Content at Bragg. According to the company, he will have a crucial role in further implementing Bragg’s strategy in the US market. At the same time, he will continue to work on repackaging Bragg’s content available to European operators for their US counterparts.
Wild Streak generated $1.05 million in revenue and EBITDA of $233,000 during the last fiscal year.