Global B2B igaming technology and content provider Bragg Gaming Group has acquired Wild Streak Gaming, a Las Vegas-based content creation studio with a portfolio of 39 premium casino slot titles supported across online and land-based applications.
The firm has signed a purchase agreement to acquire all of the outstanding membership interests of Wild Streak in a cash and stock transaction for a purchase price of approximately $30m.
Pursuant to the transaction, which closed simultaneously with the signing of the purchase agreement, the sellers of Wild Streak received $10m in cash at closing and will receive $20m worth of common shares of Bragg over the next three years, subject to acceleration in the event of a change of control.
Together with the pending acquisition of Spin Games, announced on May 12, 2021, the deal serves to advance Bragg’s acquisition strategy by increasing its ability to distribute and develop online casino content to the US market in-house.
Under the terms of the deal, Bragg will gain access to a library of 39 premium casino content titles, including several top performing land-based titles, and a robust suite of intellectual property and know-how including game designs, mathematic works, advance game mechanics and features that are specifically tailored for US markets.
Wild Streak’s design team comprises experienced mathematical and creative minds from the casino gaming industry and includes Founder and CEO Doug Fallon, a renowned land-based slot designer with over 20 years of industry experience.
Effective at closing of the transaction, Fallon will join Bragg as Managing Director of Group Content and will play a key role in leading the firm through its US content creation strategy. He will also collaborate closely with the company’s European development staff to facilitate the cross-selling and repackaging of Bragg’s proprietary European content for US operators.
Upon the completion of the Spin and Wild Streak transactions, Bragg said it will have successfully executed on its strategy of acquiring the essential resources and technology assets required to become a tier one vertically integrated B2B igaming business operating in US and Canadian markets.
Bragg’s consolidated operations will comprise an enhanced full turnkey igaming, content delivery and player engagement platform with integrations into the majority of the tier one operators across both US and European markets.
It will also feature a robust in-house content development function with localized market expertise that will allow the company to expand its proprietary content offering.
Bragg CEO Richard Carter commented: “In an industry where premium content is king, Doug and his team have built up an enviable track record of developing leading premium casino slot content for both the land-based and online casino industry.
“We look forward to integrating this know-how into Bragg’s overall offering and significantly expanding the company’s higher margin proprietary in-house casino slot content capabilities.
“We expect this transaction to be materially enhancing to both revenue and EBITDA in the first full year of ownership, as well as strategically compelling given Wild Steak brings a wealth of US market casino games insights into the group, including valuable game designs, advanced game mechanics and features that are specifically tailored for and proven in the US market.”