An acquisition could be on the cards for Fantasma Games after EveryMatrix confirmed a move to purchase the Swedish slot developer and strengthen its online casino production.
The igaming group announced a recommended public offer to acquire all shares in Fantasma Games AB for SEK 59 (€5.21) in cash per share with a total cash consideration of SEK 209.8m (€18.5m).
EveryMatrix has underlined it will issue a further update upon completion of the deal, however confirmed that in excess of 50% of the Fantasma Games shareholders have signed binding agreements to sell their shares.
In order for the bid to be completed, it is conditional on at least 90% of shareholders accepting the offer.
Furthermore, it can boost the output of the firm’s aggregator, SlotMatrix, which has continued to grow with the development of its own in-house games development within Armadillo Studios.
The potential acquisition will seek to tap into the evolution of Fantasma Games, which has undergone strong development and recorded EBITDA of €395k for Q2, a profit margin of 36%.
It builds on the continued ambitions of EveryMatrix to break records in terms of consecutive years of growth. In the second quarter of 2024, the group recorded a record high in quarterly net revenue and profit margin.
Acquisition has played a key role in the company’s plans for growth at the end of last year it made the deal to sign FSB Technology to bolster OddsMatrix, “generating immediate additional revenues, cross-company synergies and establish a presence in the UK, Ireland and Africa where FSB has developed a strong market share”.
Commenting following the company’s latest financial update, CEO Ebbe Groes stated: “It’s difficult to know what to say when our results just keep getting better and better.
“What is evident is that it’s been our best ever period of sustained growth and that the EveryMatrix effect is benefiting not just the business, but also crucially our customers, ensuring they continue to break their own records month after month.”