One of the most popular casino gaming groups in the European market has expanded their reach following a key acquisition.
The Bragg Gaming Group have confirmed that they have purchased the American firm Spin Games in order to boost their growth in the United States and Canada.
They have forked out $30 million (around £24 million) for the privilege in cash and stock transactions, and the deal will allow them to enhance their library available to their players on both sides of the pond with new slots and table games.
Bragg Gaming Group has completed its previously announced acquisition of Spin Games. The new member of the Bragg family provides for a differentiated and widely distributed iGaming product offering and accelerates Bragg’s North American growth.https://t.co/wIKkEYNTEA$BRAG pic.twitter.com/tiHZ3OM5g0
— Bragg Gaming (@Bragg_Gaming) June 1, 2022
The chief strategy officer for Bragg Gaming, Yaniv Spielberg, was looking forward to ‘significantly accelerating’ his firm’s growth in the North American market thanks to the capture of Spin Games.
“Combining our RGS [remote game server], 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 licences and established integrations with online casino operators comprising the majority of the US market, significantly accelerates our entry into the North America iGaming market,” he said, presumably pausing for breath at some point.
“We are positioned to quickly grow our US market presence over the next several months.”
Spielberg has directed the appointment of Kent Young, the founder and CEO of Spin Games, as president of Bragg in the Americas, and he is expected to oversee a key period for the group as they roll out their newly-expanded canon of games, which will be boosted by a range of slots from Spin’s land-based partners.
They are targeting New Jersey, Michigan and Connecticut initially, and expect to launch there in the Autumn of this year.
On a Hot Streak
It’s been a solid past year for Bragg Gaming Group, who have consolidated their position in the sector with a number of key acquisitions and partnerships.
Perhaps chief among those was the decision to bring ORYX Gaming on board as a creative partner. They offer a range of back-end services plus a number of game development titles, with the fruits of their labour including Paradise Ticket, Super Egg Hunt and Egyptian Magic.
Bragg also acquired the rights to Wild Streak Gaming in 2021. The Las Vegas firm produces slots and table games that are used by Bragg’s casino partners in the UK, Europe and North America, and they also collaborate with IGT – another highly-regarded iGaming firm for whom Wild Streak has created games like Wolf Run Gold and Dreamy Genie.
All of which saw Bragg record outstanding performance figures in the first quarter of 2022. Those include a revenue increase of a whopping 36.4% compared to the same period in 2021, as well as a gross profit rise of a handsome 50.7%.
Spielberg put that down to a change in corporate strategy, noting:
“The benefit of our initiative to offer more new propriety games and exclusive third-party online content is evident in the success of several recently introduced, internally developed games.”