White Hat Studios is under new ownership after a German family-owned business group agreed to acquire the casino content supplier to expand its presence in the U.S.
On Wednesday, German gaming and entertainment giant Merkur Group reached a deal to acquire White Hat Studios for an undisclosed sum. A transaction involving White Hat Studios comes as no surprise after the company reportedly began considering a sale in January 2025. More than a year later, the supplier found its new owner in Merkur Group.
Before a potential sale, White Hat Studios also explored an initial public offering.
The deal between Merkur Group and White Hat Studios is subject to regulatory approvals. The transaction was facilitated by British strategic advisory and M&A firm Oakvale Capital.
- Merkur Group’s acquisition only includes White Hat Studio’s game studio operations
- Its B2B and white label operations will remain under current ownership
“Joining Merkur Group is an exciting moment for everyone associated with White Hat Studios and, fundamentally, it is the best possible move to realize our ambitions for future growth and product innovation,” said White Hat Studios President Andy Whitworth.
Merkur Group is acquiring White Hat Studios a year after White Hat Studios entered the U.S. land-based casino market through a distribution deal with technology supplier Gaming Arts. The agreement provides White Hat Studios with the ability to supply content to both online and land-based operators. The company first entered the U.S. in 2021. It became the first studio to deliver online slots to all seven U.S. online casino markets.
“White Hat Studios has delivered impressive growth since its launch. We look forward to working with the team to continue the U.S. success story and, in turn, Merkur’s expansion in regulated iGaming,” said White Hat Studios Board Chairman Lars Felderhoff.
Merkur Group acquisitions build US presence
Merkur Group is securing a deal to acquire a major player in online casino gaming after the company agreed to solidify its presence in the U.S. by acquiring Gaming Arts last year.
Merkur Group purchased the Nevada-based gaming technology provider in September 2025 for an undisclosed sum. The deal provided Merkur Group with a North American bingo, slot, and table game tech provider that has a presence in markets across the U.S.
“With Gaming Arts, we are now able to place Merkur products directly in a wide range of U.S. jurisdictions. This marks an important step in expanding our international growth beyond European borders,” said Merkur Games Board Member Dominik Raasch after Merkur Group closed its acquisition of Gaming Arts.
Merkur Group was established in 1957 and currently has more than 15,000 employees. According to data provided by the company, it generates over $2.3 billion in annual revenue.
