US casino operator Saratoga Casino Holdings is making its first steps into the iGaming sector after acquiring a minority stake in High Roller Technologies.
Saratoga has made a $1.0 million investment in the operator of the High Roller and Fruta online casino brands through a private placement of restricted shares, at a purchase price of $2.80 per share.
The offering and sale of the shares is expected to close later today, subject to the satisfaction of certain closing conditions
“This strategic investment from Saratoga is a strong vote of confidence in our business model and growth strategy,” said High Roller CEO Seth Young. “This strategic alignment with Saratoga is an indication of our continued ambition to scale our platform, expand our market reach, and execute on our near- and long-term initiatives.”
Saratoga currently owns and operates casino properties in New York (Saratoga Casino Hotel), Colorado (Saratoga Casino Black Hawk), Mississippi (Magnolia Bluffs Casino Hotel), and recently secured licence approval for its new venue in Pennsylvania, Happy Valley Casino.
The investment in High Roller marks Saratoga’s first move into the online gambling sector.
“Over the past few years, we have been seeking the right opportunity to make our first investment in the online gaming sector,” said Saratoga Casino Holdings CEO Samuel Gerrity. “High Roller’s growth trajectory is extremely compelling, and we are thrilled to support the company with this strategic investment.”
High Roller has also announced plans to enter the sports betting sector, signing a letter of intent (LOI) with Altenar last week for a fully managed B2B sports betting software solution.
“The addition of sportsbook to our product suite through Altenar offers us the opportunity to rapidly expand High Roller’s market position,” said Young. “Altenar’s platform, risk management services, and 24/7 support model align with our goal to deliver a reliable and scalable user experience as we pursue the regulatory pathways and technical milestones required for launch.”
Altenar’s North America sales manager Matthew Ferrara added: “We are excited to be working with High Roller and its team. High Roller brings extensive customer reach, with proven delivery and execution across multiple online gaming brands, which are key elements that strongly support the anticipated partnering economics of our relationship. We look forward to working closely with the team in support of a successful integration and a timely launch.”