Cash and stock
Toronto-based Bragg Gaming Group has completed the acquisition of Spin Games LLC in a cash and stock arrangement for around $30m.
differentiated and widely distributed iGaming product offering.”
In a news release Wednesday, Bragg said Nevada-based Spin brought with it a “differentiated and widely distributed iGaming product offering.” The Canadian firm also shared news of its acquisition via Twitter, saying the addition of Spin will boost its US expansion:
Spin Games’ casino content is live, licensed, and distributed in New Jersey, Pennsylvania, and Michigan. Pending launches await in Connecticut, and British Columbia, Canada. In a news release, Bragg said it would “immediately leverage Spin’s U.S. iGaming relationships.”
Spin’s state gaming reach and relationship with established iCasino operators gives Bragg the confidence to say the acquisition will “significantly accelerate…” its growth within the US iGaming market.
Chief strategy officer for Bragg, Yaniv Spielberg, also spoke of US growth via his firm and Spin combining their strengths, such as market access, fresh, tailored content, and nifty data analytics.
Speed of the essence
The tone and the words Bragg used in announcing the Spin deal made it very clear it wants to expand at a brisk pace. Spielberg said Bragg was in line to “quickly grow” its US footprint over the “next several months.” Via Spin, Bragg can now gain access to gambling operators in additional legalized gaming states and offer them its complete online gambling solution.
Spielberg also revealed that Spin Games’ founder and CEO, Kent Young, has been appointed Bragg president, Americas.
perfectly positioned […] to quickly execute on our U.S. and Canada iGaming expansion plan”
Young’s remit includes overseeing Bragg’s market expansion. Young said the business was “perfectly positioned […] to quickly execute on our U.S. and Canada iGaming expansion plan.”
Using its Spin entry card into other US states, Bragg will now start to push its new, in-house-developed online casino content — and third-party exclusives — to a new market, as well as cross-sell its existing European casino content.
According to the Bragg news release, it expects to launch its first proprietary games – Egyptian Magic, Fairy Dust, and Paradise Ticket – on its remote gaming server (RGS). Bragg estimates the launch of these games in Connecticut, Michigan, and New Jersey will happen Q3 2022, with Pennsylvania poised to follow suit.