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EveryMatrix makes move to acquire Fantasma Games

18th September 2024 10:39 am GMT

Shares in Swedish slot developer Fantasma Games soared by more than 18 per cent in Stockholm Wednesday morning after EveryMatrix made a SEK209.8 million (approx. €18.5 million) offer to acquire the business.

Under the recommended public offer, EveryMatrix will acquire all shares in Fantasma Games for SEK59 (€5.21) per share in cash.

The offer represents a premium of 21 per cent compared to the closing price of Fantasma’s shares on Nasdaq First North on Tuesday and a premium of 28 per cent compared to the volume‑weighted average price of Fantasma’s shares during the past 30 trading days.

The acceptance period for the offer is expected to commence tomorrow and expires on 10 October, with more than 50 per cent of Fantasma’s shareholders already signing binding agreements to sell their shares.

The bid is conditional on at least 90 per cent of shareholders accepting the offer.

EveryMatrix said the deal will significantly strengthen its games output with the immediate addition of titles that are integrated with more than 250 operators.

In its most recent financial results, Fantasma Games reported a 13 per cent fall in net sales to SEK10.1 million, generating EBITDA of SEK2.7 million at a margin of 27 per cent.

For the full 2024 year, the supplier has forecast a 33 per cent increase in net sales and an EBITDA margin of approximately 47 per cent.

EveryMatrix’s SlotMatrix aggregation platform currently offers operators more than 29,000 games from more than 330 third-party studios, in addition to its own in-house titles from Armadillo Studios.

In July, the company grew its sportsbook business with the acquisition of betting solutions provider FSB Technology.

Shares in Fantasma Games AB (STO:FAGA) soared by 18.31 per cent to SEK57.50 per share in Stockholm Wednesday morning following the announcement.

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