Gaming company Bragg aims to acquire Wild Streak in its latest business move.
The iGaming world's always on the move, ain't it? Always shifting and changing. And the next few years are predicted to bring a massive makeover for the industry everywhere, especially in the States, with companies fighting tooth and nail for a better footing in the market. That's where Bragg Gaming Group comes in, a company specializing in B2B iGaming technology and content, ready to take the reins. They've been making moves all year, and now they're making another big one - the acquisition of Nevada-based Wild Streak Gaming.
The Buyout Wave in the Gambling World
Bragg announced a purchase agreement for Wild Streak yesterday, worth $10 million in cold hard cash and another $20 million in stock, with the shares to be paid out over three years. The deal's already been signed, sealed, and delivered, leaving Bragg with a snazzy new addition for its portfolio that includes the likes of Oryx Gaming. Wild Streak's a content creation studio that boasts 39 slot titles found in both online and brick-and-mortar casinos.
With Bragg focusing on content provision, the pickup of Wild Streak makes perfect sense. Bragg's got an international presence but needed to beef up its US development. The Wild Streak acquisition, combined with their recent pickup of Spin Games, should give Bragg a nice boost. Bragg's CEO, Richard Carter, doesn't mince words: it'll "materially enhance revenue and EBITDA in the first full year of ownership, and strategically, Wild Streak brings a wealth of US market casino games insights into the group."
Wild Streak's Reach Extends Far and Wide
Wild Streak started as a land-based game design company, but in response to the industry's evolution, it decided to jump into the digital world. That leap has paid off, as it now has games on 12 different platforms worldwide, both on- and offline. It also has cozy relationships with heavy hitters like International Game Technology and Scientific Games. This year, they've already dropped three new titles in Europe, and domestically, they're present in Nevada, New Jersey, and other states.
Bragg sees the latest acquisitions of Wild Streak and Spin as key pieces in a big growth strategy. They believe these purchases will help them push their expansion plans in the US and Canada, allowing them to offer turnkey iGaming solutions encompassing content delivery and player engagement options. The core team over at Wild Streak stands to benefit from the deal, too. The company brought in just over a million bucks in revenue last fiscal year and $487,000 in the first quarter of this year. Considering Wild Streak's been around less than six years, the $30-million purchase price is quite a feat.
Enrichment Data:- Content Expansion: Wild Streak contributes a library of casino games, enriching Bragg's content offerings and appealing to a broader audience, helping Bragg forge stronger partnerships with licensed operators across different jurisdictions in the US.- Market Penetration: By incorporating Wild Streak's content, Bragg increases its market penetration and deepens its presence in existing markets, giving it a competitive edge in the US iGaming landscape.- Regulatory Compliance and Expansion: Bragg leverages Wild Streak's localized content to comply with US regulatory frameworks and offers content tailored to specific regions, aiding strategic growth in the US.- Innovation and Brand Reputation: Wild Streak's titles boost Bragg's brand reputation for quality content and attract new customers, fostering long-term growth in the US iGaming sector.
- The iGaming industry is expecting a significant transformation in the upcoming years, particularly in the United States, with companies vying for a stronger foothold in the market.
- Bragg Gaming Group, a B2B iGaming technology and content provider, is prepared to take advantage of this shift, recently announcing the acquisition of Wild Streak Gaming for $30 million in cash and stock.
- Wild Streak Gaming, a content creation studio based in Nevada, boasts 39 slot titles that can be found in both online and land-based casinos worldwide.
- The acquisition of Wild Streak aligns with Bragg's strategy of focusing on content provision and expanding its US development, as they've also recently acquired Spin Games.
- With the addition of Wild Streak's content, Bragg aims to offer comprehensive iGaming solutions, encompassing content delivery and player engagement options, with a focus on expansion in the US and Canada.
- The deal is expected to generate increased revenue and EBITDA for Bragg in the first full year of ownership, while the Wild Streak team stands to benefit from the financial boost and the company's industry connections.
