Bragg Gaming Group To Purchase Spin Games For $30m For a US Market Breakthrough

Canadian iGaming provider Bragg Gaming Group came out with an announcement concerning the purchase of Spin Games LLC. The latter is a US Nevada-based gaming company, with its headquarters being in Reno. This latest business venture will cost Bragg Gaming Group approximately $30m. The payment will be in a form of both cash and shares. Making this a somewhat more complex deal. Regardless, Bragg Gaming purchasing Spin Games LLC is pretty much a done deal. Moreover, certain managers and employees are expected to cross over to Bragg Gaming as well.

One such case is the CEO of Spin Games Kent Young. Mr. Young will continue serving as the president of Bragg Group as soon as the merger is complete. And who better to continue to lead the US operations than Mr. Young himself? When giving a statement for the press he said the following:

In addition to strengthening our support of our existing customers and markets, this acquisition will accelerate Spin’s ability to expand our content library, pursue new markets and leverage our technology to support iGaming here and in new markets as they open.

Kent Young – CEO of Spin Games LLC & New President of Bragg Gaming Group – Americas

More specifically, the owners of spin will receive $10m in cash and an additional $20m in shares of Bragg Gaming Group. Out of these $20m, $5m will be paid out upon closing, over a period of three years. Furthermore, Bragg Gaming assures its investors that this deal has a huge potential when it comes to expanding into the US market. Especially with the blooming of the US gambling/gaming scene in the past year. And if you are familiar with the subject, then it is clear what the driving force behind this venture is.

Regardless of that, the optimism is very high with Bragg’s management. And with how things are unfolding in the USA gambling scene, who can blame them? The CEO of Bragg Gaming, Richard Carter had quite a positive outlook on the new business venture:

This transaction lays a strong foundation for our strategy of building a tier-one vertically integrated iGaming business in the US. We have seen from the European market that the ability to deliver best-in-class proprietary content alongside a full turnkey iGaming and player management platform is key to building a successful B2B online casino technology provider. The cornerstone of our future growth strategy will involve bringing best-in-class content in-house during the early innings of the US growth story to position our company for long-term success

Richard Carter – CEO of Bragg Gaming Group

The latest acquisition of Spin Games LLC by Bragg Gaming Group will is definitely a major breakthrough for the company. It will enable them a direct link with some of the biggest gambling providers in the US. To give you a perspective: DraftKings, TwinSpires, Penn National Gaming, WynnBet, Rush Street Interactive, Digital, Caesars, FanDuel, Golden Nugget, Hard Rock and Parx. Consequently, Bragg can only benefit by linking with some of the biggest names in the gaming industry, hence another major reason for purchasing Spin Games.

The deal is expected to be complete towards the end of the year. Being that the whole thing is pretty much sealed, it is only a matter of time and bureaucracy. Bragg Gaming Group entering the US market via Spin Games LLC is only a confirmation that a new era of US iGaming is on its way.