Another Gaming Acquisition Completed
While many headlines have highlighted the big gaming industry mergers and acquisitions of 2022, the smaller end of the market is just as hot. It was announced this week that Bragg Gaming Group, a Canadian gaming company, has closed its $30 million cash-and-stock acquisition of Spin Games LLC.
Spin, a Nevada-based, iGaming company (interactive, play for real money rewards) now gives Bragg a strong foothold into much of the North American gaming market.
Yaniv Spielberg, Chief Strategy Officer for Bragg said, “We are positioned to quickly grow our U.S. market presence over the next several months beginning with our iGaming content and supporting game optimization technologies.
“With more than 30 years of experience in the North American gaming sector, Spin Games’ founder and CEO Kent Young will serve as our President – Americas, and oversee our U.S. market roll-out growth strategy.
We’re delighted to welcome Kent and the entire Spin Games team to Bragg and look forward to collaboratively driving the successful execution of this key growth initiative.”
For his part, Mr. Young said, “I am delighted to now be a part of the Bragg team and I’m confident the company is perfectly positioned to leverage our leading RGS technology and proprietary and third-party content to quickly execute on our U.S. and Canada iGaming expansion plan.”
While much of the M&A activity globally has slowed, deals in gaming, especially the video game industry, have been flowing. It’s expected that deal value in the industry will reach a new record this year, perhaps $150 billion. That’s nearly double the previous record deal value of $85 billion from last year.