Bragg Gaming Buys Spin Games in a Deal Worth $30 Million

Bragg Gaming

The rapidly-growing US gaming market is becoming more and more appealing to foreign companies, and the latest move further proves our claims.

Canadian provider of gaming technology Bragg Gaming has announced the acquisition of Spin Games, a gaming content provider based in Nevada. Following the transaction, Bragg Gaming is ready to enter the US and offer its products to customers across the States.

An Important Move for Bragg Gaming

Bragg Gaming bought Spin Games in a cash-and-stock deal worth $30 million. The Toronto-headquartered company paid $10 million in cash, while Spin Games will receive $20 million worth of shares. According to available information, $5 million of shares are set to be issued on closing, while the remaining $5 million will be allocated over the period of three years.

Once the transaction is formally completed, the founder of Spin Games and its Chief Executive Officer Kent Young will become Bragg Gaming president for the Americas. Young should play a vital role in Bragg Gaming’s growth strategy in the US market.

At the same time, Spin Games and Bragg Gaming’s subsidiary Oryx Gaming are preparing for the integration. After this move is completed, the company will have an integrated gaming platform ready to be delivered to new customers in the US.

Commenting on the latest move, Richard Carter, CEO at Bragg Gaming, said that Spin Games’ existing gaming licenses and already established integrations with many online casino operators would prove crucial for the company’s future growth across the US and in North America. Carter was named CEO in March but officially took over earlier this month.

Gaining Access to a Broad List of Partners

Bragg Gaming made a wise decision to enter the US market by acquiring an already-established name. This way, the company will gain access to some of the leading operators present in the market, which already work together with Spin Games. The list of operators includes many familiar names, such as Caesars, FanDuel, BetMGM, DraftKings, Hard Rock, Penn National Gaming, and Unibet.

The move itself doesn’t come as a surprise, as Bragg Gaming revealed its plans to further expand its North American presence at the beginning of the year. Acquiring Spin Games, its gaming portfolio, and partner list represents a massive step in making these ambitious plans a reality.

CEO Young was pleased to announce the transaction on behalf of the entire team of dedicated professionals working at Spin Games. He explained the move would help the combined company expand its footprint in the growing online market in the US. Young also stated that the supplier’s in-house developed and third-party content and its remote gaming server technology would prove crucial in these efforts.

He said everyone at Spin Games was thrilled to be joining the Bragg Gaming team and pointed out he was looking forward to creating a prosperous future together.

It’s expected the deal to be closed later this year.

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top