Bragg Gaming Enters The Market Igaming In The Us
The global gaming technology and content supplier for b2b and the oryx gaming bragg gaming group owner has concluded a final acquisition agreement with spin games llc ("spin"), supplier of game technologies and content b2b from reno, nevada, currently serving the us market, subject to approval by regulatory authorities.
Bragg i spin announced that thes entered into a merger agreement, in accordance with which bragg agreed to acquire spin for money and stock price of the purchase of about 30 million us dollars. Under the terms of the transaction, spin sellers will receive 10 million us dollars in cash and $ 20 million ordinary shaces of bragg, of which $ 5 million will be issued by ordinary shares when closing the transaction, and the residue for the next three years. The transaction will be closed after final approval by state regulators of gambling and performing other conventional closing conditions.
The deal offers a convincing strategic and financial rationale and is consistent with the previously announced bragg strategy to diversify income in european markets and expanding operations in the united states in order to extract the benefit from the growing online casino markets in the united states and canada. The transaction serves to immediately establish the presence of bragg in the united states and creating a basis for the company’s growth strategy in the region.
Spin through its team out of 30+ professionals will immediately provide bragg technical, food, regulatory and regulatory know-how, characteristic of the market and reducing the risks of deployment and reducing the risks of deployment in the. After the closure, the founder and director general of spin kent young, who has more than 30 years of leading experience in the game sector, will immediately join bragg as president – america and will play a key role in the company’s growth strategy in the market.
Thanks to the bragg transaction, you will get access to key strategic operators in the united states, including betmgm / roar digital, caesars, fanduel, golden nugget, hard rock, draftkings, twinspires, penn national gaming, resorts, parx, rush street interactive , unibet and wynnbet. The company intends to use this relationship with key operators for cross-sales of its existing casino content, which is currently in european markets, while continuing to develop content creation for the us. The remote game server spin and distributed to new jersey, pennsylvania and michigan, as well as licensed with expected deployment in british columbia, canada.
Combined offer of the company oryx gaming ("oryx") full property spin and bragg allows the company to supply an extended igaming platform, sports rates and interaction with turnkey players to the fast-growing us market. The initial planning of technical integration between spin and oryx is currently under implementation, and the combined proposal provides advantage of the advanced platform for interaction with orax players with spin technology, know-how in the local market and relationship with us operators. In addition, transaction expands global development resources of bragg due to the existing spin development center located in chennai, india.
Richard carter, chief executive officer bragg gaming commented:
"Existing government gaming licenses spin and estatished integration with online casino operators constituting most of the us market, uniquely position our company for future growth in the north america market. This transaction lays a solid foundation for our strategy to build a vertically integrated igaming business in the us.
In the european market, we were convinced that the ability to provide the best in its class your own content, along with the full igaming platform and managing turnkey players, is the key to the creation of a successful technology provider for online casino b2b. The cornerstone of our future growth strategy will be providing better content in its class at the initial stages of the history of growth in the united states, which will allow our company to achieve long-term success.
We believe that this deal will be transforming for the company and will have a significant positive impact on our employees, customers and shareholders. Outstanding product and talented spin team instantly expand our presence in the local market and provide a group of extensive know-how in the us market, including valuable products, technical, regulatory and regulatory requirements.
We we welcome the kent and the combine the possibilities of spin and oryx toemibilities new fully ready-made turnkey game solutions in the igaming industry in the usa and canada.
Kent young, founder and chief executive officer spin games, said:
"On behalf of the entire spin team, we are pleased to declare this acquisition that will improve the position of the combined company to expand the support of the fast-growing market igaming in the united states with the help of our own and thred-party content and our leading technology of remote gaming servers.
Since we have become one of the united for online games in the united states, we have expanded our presence in new jersey, pennsylvanie and michigan and received permission to work in british columbia. In addition to the world existing customers and markets, this acquisition will speed up the spin ability to expand our content library, to enter new markets and use our technologies to support igaming here and in new markets asia are discovered. We are very pleased to join the team of bragg and hope for a joint successful future ".
Source: official site oryx gaming