Bragg Gaming set to complete Spin Games acquisition17th December 2021 9:30 am GMT
Toronto-listed gaming supplier Bragg Gaming is set to complete its acquisition of Spin Games early next year after receiving final regulatory approval from the Pennsylvania Gaming Control Board (PGCB).
The approval from the PGCB means that Bragg has now received all required regulatory approvals to complete the $30m acquisition in early 2022.
“As we near the completion of our Spin Games acquisition, we are excited by our near-term US growth prospects, as the transaction marks further progress against our content monetisation and addressable market expansion initiatives,” said Bragg Gaming chief strategy officer Yaniv Spielberg.
“Spin’s existing relationships with the leading US iGaming operators and accomplished management team under Kent Young will significantly accelerate our entry into the US iGaming market and we remain on schedule to substantially grow our year-end 2022 total addressable market to more than $18bn.”
Spin Games founder and CEO Kent Young commented: “Our enthusiasm for becoming part of the Bragg family continues to grow as we see first-hand the company’s ability to execute on its near - and long-term growth strategy. Based on the progress already achieved with our integration plan, we can hit the ground running following the completion of the transaction.
“We are confident that the combination of our existing footprint and extensive relationships with leading North American iGaming operators combined with Bragg’s focus on technology, highly engaging content and distribution will strengthen the combined company’s competitive position in this rapidly growing market.”
Bragg also provided an update on its operations in the Netherlands' newly regulated iGaming market, with the supplier's strong initial double-digit market share in October continuing into December.
Bragg is currently providing its full service iGaming platform to two licensed operators in the country, and is supplying content to two additional current operators.
Shares in Bragg Gaming Group Inc (TOR:BRAG) closed 5.41 per cent lower at CAD$6.65 per share in Toronto Thursday.