Toronto-based BRB iGaming technology supplier Bragg Gaming Group continued its push into the U.S. online gaming market last week by announcing that the company has acquired Las Vegas-based content studio Wild Streak Gaming.
Wild Streak has a library of 39 premium casino slot titles across both online and land-based applications.
Bragg, which recently announced it is acquiring Reno-based Spin Games, 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 $30 million. Wild Streak received $10 million in cash at closing and will receive $20 million worth of common shares of Bragg over the next three years, subject to acceleration in the event of a change of control.
Bragg’s acquisition strategy “increases its ability to distribute and develop high-quality online casino content to the US market in-house,” the company said in a press release. Wild Streak brings a suite of intellectual property and know-how including game designs, mathematic works, advanced game mechanics and features that are specifically tailored for U.S. markets.
Wild Streak’s design team comprises experienced mathematical and creative minds from the casino gaming industry and includes Doug Fallon, the founder and CEO of Wild Streak and a renowned land-based slot designer with over 20 years of industry experience. Fallon worked in several executive marketing and design positions over 11-plus years at Aristocrat before founding Wild Streak.
Wild Streak has created popular games for the largest U.S. casino slot manufacturers and designed the games and mechanics behind several well-known land-based slot titles and brands along with successful games in both social and real money online casinos. Wild Streak has a library of land-based content that will be customized for the U.S. online market, along with building upon existing high performers such as Dragon Power in the U.S. iGaming market.
Effective at closing of the transaction, Fallon will join Bragg as managing director of group content and will play a key role in leading Bragg through its U.S. content creation strategy while also collaborating closely with the company’s European development staff to facilitate the cross-selling and repackaging of Bragg’s proprietary European content for U.S. operators.
Upon the completion of the Spin and Wild Streak transactions, Bragg 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 U.S. 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 U.S. and European markets, and a robust in-house content development function with localized market expertise that will allow the Company to expand its proprietary content offering.
“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, 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.
“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 U.S. 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 U.S. market.”
“Richard and the Bragg Gaming executive team have put in place the strategy and key components to accelerate their growth and market share in the iGaming market, and Wild Streak is excited to be a cornerstone for their growth strategy,” commented Fallon. “We are highly impressed with the ORYX Gaming technology stack’s robust foundation and their roadmap for additional capabilities in development. We are looking forward to working with the ORYX team to create unique player experiences as we embed their technology into our game designs.”
