Online gambling solutions company Bragg Gaming Group has entered into an agreement to purchase Las Vegas-based casino games maker Wild Streak Gaming to advance its acquisition strategy by increasing its ability to craft and distribute proprietary online casino content to the fast-growing US market.
Under the terms of the recently signed purchase agreement, Bragg has agreed to pay $30 million in cash and stock for Wild Streak’s all outstanding membership interests. The transaction closed simultaneously with the signing of the agreement and Wild Streak’s sellers received immediately $10 million in cash and will receive $20 million in common shares of Bragg over the next three years.
News about Bragg acquiring Wild Streak emerge a couple of weeks after the former announced the acquisition of Reno, Nevada-based studio Spin Games in a $30 million stock and cash deal.
With a portfolio of 39 titles, which Bragg will now own, Wild Streak initially focused on the development of content for the land-based casino industry. The company has now increasingly been paying attention to the online sector and has been customizing its products for a wide variety of US and European iGaming markets.
Now being part of the larger Bragg group, the studio will continue to customize its games for the US online market and will build on existing digital high performers such as Dragon Power, which has been particularly successful in New Jersey’s regulated Internet gambling space.
Successful Execution of US Expansion Strategy
Bragg said that upon the completion of both the Spin Games and Wild Streak transactions, it will have successfully executed on its strategy to acquire the essential resources and technology assets that it needs to become a “tier one vertically integrated B2B iGaming business operating in US and Canadian markets.”
The group’s consolidated operations will include an enhanced full turnkey iGaming, content delivery, and Player Engagement Platform with integrations into leading operators across the US and Europe as well a robust in-house casino content development function with localized market expertise that would enable Bragg to grow its proprietary content portfolio.
Wild Streak was founded by Aristocrat alum Doug Fallon who boasts more than two decades of industry experience. The studio has crafted games for some of the largest US land-based manufacturers and has designed mechanics that power several well-known land-based slot games and brands.
Mr. Fallon is set to join Bragg as Managing Director of Group Content and will play an instrumental role in leading Bragg’s US content creation strategy while also collaborating closely with the larger group’s European development staff to help it cross-sell and repackage Bragg’s European content for US gambling operators.
Source: Bragg Gaming Continues US Expansion; Acquires Premium Content Developer Wild Streak Gaming, ORYX Gaming Newsroom, June 2, 2021