Bragg Gaming Group acquires Wild Streak Gaming for $30 million
The red-hot video gaming industry continues to grow with no sign of slowing down. However, we’re beginning to see some consolidation in the space as big players acquired smaller gaming companies. No sector of the market is consolidating faster or more efficiently than iGaming. Companies in this industry are making a killing from lockdown-related boredom and are keen to solidify their positions while the getting is good.
Just this month, B2B iGaming giant Bragg Gaming Group announced it has acquired content creation studio Wild Streak Gaming. The price tag? A whopping $30 million. So what does this mean for the casino industry in the US and worldwide? Let’s take a look.
Who is Bragg Gaming Group?
Bragg Gaming Group is a business-to-business (B2B) online gaming solution provider, offering a retail, online, and mobile iGaming platform, as well as advanced casino content aggregator, sportsbook, lottery, marketing, and operational services.
Formerly Breaking Data, Bragg Gaming Group’s core business revolves around ORYX Gaming, an online casino technology group founded in 2010 and acquired by Bragg in 2018. Acclaimed for its scalable, customizable, and modular gaming technology, ORYX gaming technology has been developed, licensed, and launched in more than 125 iGaming and sports betting operators worldwide.
Bragg Gaming Group is a highly profitable gaming solution accelerating growth, thanks to its booming business and recent (pending) acquisitions like Spin Games in May of this year. The acquisition of Spin Games will allow Bragg to improve its overall strategy to further develop and distribute online casino content across the largest casino companies in the USA.
Wild Streak Gaming
Founded in 2015, Wild Streak Gaming is a Las Vegas-based, third-party content creation studio, specializing in the design, development, and deployment of some of the top-performing casino slot games in the social gaming industry.
Acclaimed for its innovation in game design, Wild Streak is perhaps best known for its vibrant, colorful, and captivating games such as Wolf Run Gold, Siberian Storm 2, Girl With the Golden Eyes, Golden Wild, and Mermaid Pays.
Details of the deal
Wild Streak Gaming brings to the table its portfolio of 39 premium casino slot titles, supported across online and land-based applications. Its excellent design team, coupled with abundant expertise in both US and global content creation, make Wild Streak a savvy acquisition for Bragg.
Bragg noted that Wild Streak brings a wealth of insights to the new gaming group, including valuable game designs, advanced game mechanics, and features that are specifically tailored to an American audience. With an amazing content creation team behind the scenes and localized market expertise, both companies expect that during the first year of the transaction, their combined revenue will see a significant increase.
Signing a purchase agreement, Bragg plans to acquire all of the outstanding membership interests in Wild Streak. At the closing of the preliminary acquisition agreement, Wild Streak received $10 million in cash and, over the next three years, will receive the remaining $20 million in the form of common shares of Bragg stock.
Doug Fallon is the founder and CEO of Wild Streak and a distinguished slot designer with over 20 years of industry experience. Following the close of the acquisition, Fallon will join Bragg as Managing Director of Group Content and will lead Bragg’s US content creation strategy while also working with their European development staff to repackage Bragg’s proprietary European content for US casino operators.
“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,” said Richard Carter, Chief Executive Officer of Bragg Gaming. “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.
Richard Carter, CEO of Bragg Gaming Group, will maintain his position over the expanded enterprise. Prior to coming to Bragg, Carter was CEO of SB Tech, a sports betting solutions provider that he led for over 5 years until the company merged with DraftKings.
Bragg’s acquisition of Wild Streak Gaming is part of the company’s strategy to more efficiently and effectively provide high-quality casino content to the US market in-house. The company’s strategy encompasses multiple components aimed specifically at accelerating growth and increasing its market share.
With Wild Streak Gaming’s repertoire of casino titles and creative design team and Bragg’s powerful global capacity in Europe and Latin America, Bragg will now be able to improve existing content and develop new games catered exclusively to players in the US. What this means is that the quality, quantity, and technological innovation of casino games are likely to improve for players in the US marketplace.