LL Lucky Games, a Stockholm-based company, has officially announced its acquisition of ReelNRG, a London-based games studio, solidifying its position in the gaming market. The acquisition, marked by a letter of intent, signifies a strategic move for both parties involved.
Overview of the Acquisition:
LL Lucky Games has agreed on the purchase price, comprising 2.5 million newly issued shares at a share price of SEK 3.3. The transaction is set to take place in April following standard due diligence procedures. Calvin Kent, CEO of ReelNRG, expresses optimism about this transition, emphasizing the support and opportunities it brings for the company’s growth.
Strategic Benefits:
The acquisition will expand LL Lucky Games’ portfolio by 46 new titles and secure crucial licenses in Malta and the UK. Mads V. Jørgensen, CEO of LL Lucky Games, highlights the significance of this move in terms of customer integrations, licensing, and commercial synergies. The merged entity, boasting over 100 games, is poised to capitalize on cross-selling opportunities and optimize operational costs.
Operational Continuity:
Despite the acquisition, ReelNRG will maintain its operational independence. With nine employees, primarily located in India, the studio will continue its development efforts unabated. This approach ensures continuity in delivering entertainment packages to clients while leveraging the support and resources provided by LL Lucky Games.
Market Positioning and Focus:
LL Lucky Games reinforces its commitment to the regulated gaming markets through this acquisition. By consolidating its position as an independent gaming studio, the company emphasizes its focus on quality, compliance, and sustainable growth. The acquisition aligns with the broader strategic vision of both companies to thrive in an evolving industry landscape.
The acquisition of ReelNRG by LL Lucky Games represents a strategic maneuver aimed at bolstering market presence, expanding portfolios, and capitalizing on synergistic opportunities. As both entities move forward, the focus remains on innovation, customer satisfaction, and sustained growth in the dynamic gaming industry landscape.