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Bragg Gaming acquires Spin Games to diversify in the US markets

Bragg Gaming Group and Spin Games announced today that they have entered into a definitive agreement whereby global B2B gaming technology and the content provider will take over the technology based on Reno and a content company serving US markets, subject to regulatory approval.

and Canada

The merger agreement provides for the acquisition of Spin Games as part of a total cash-share transaction worth approx $ 30 million , including $ 10 million Bragg will pay in cash and the rest $ 20 million in ordinary shares, z $ 5 million of them issued after the completion of the transaction, and the balance in the following 3 years.

The deal, which will require approval from state regulators and other customary closing conditions, gives Bragg the opportunity to provide divers with his previously announced ify strategy to rely on European gaming and establish himself in the emerging online casino markets of the United States and Canada.

Use the know-how of Spin in the USA

Bragg will make full use of Spin's US-specific technical, product, regulatory and compliance expertise to minimize implementation risk and shorten time-to-market, while Spin's CEO and Founder Kent Young is expected to provide 30 years of experience, joining Bragg as President - America and playing a key role in implementing and developing the company's strategy in the US.

The acquisition of Spin Games will open up opportunities to cross-sell Bragg's casino content within the existing relationship between Spin and leading US gaming companies.

“The existing Spin state licenses and the long-established integration with online casino operators covering most of the US market uniquely position our Company for future growth in the North American market. This transaction provides a solid foundation for our strategy to build a first-tier vertically integrated iGaming business in the United States. ”

Richard Carter, CEO, Bragg Gaming

Cross-selling casino content

The casino operators Caesars, Golden Nugget, Hard Rock, Penn National Gaming, Resorts and Parx as well as online gaming brands BetMGM, FanDuel, DraftKings, TwinSpires, Unibet and WynnBet are potential buyers of the company's content, which is currently available in the European gaming markets. Fully licensed in New Jersey, Pennsylvania and Michigan, Spin Games casino content has also received regulatory approval and is awaiting deployment in British Columbia, Canada.

"Spin's outstanding product and talented team immediately expands our local market reach and brings a wealth of US market know-how to the group, including valuable product, technology, regulatory and compliance expertise."

Richard Carter, CEO, Bragg Gaming

Full turnkey platform

Following the close of the deal, Oryx Gaming, a subsidiary of Spin's and Bragga, will provide the technology and B2B content company with a turnkey platform for iGaming, sports betting and player engagement in the US as integration plans between Bragg and Spin are underway.

“In the European market, we have seen that being able to deliver best-in-class proprietary proprietary solutions alongside a complete ready-to-use iGaming platform and player management is key to building a successful technology provider for B2B online casinos. "

Richard Carter, CEO, Bragg Gaming

Finally, the integration of Spin's existing development center in Chennai, India aims to further expand Bragg's global development potential and resources.

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