Having signed a letter of intent to acquire the ReelNRG gaming studio, Lady Luck Games is set to add 46 titles to its network and secure “important” UK and Malta licences.
Following past acquisitive moves for Revolver Gaming and the Danish operations of Spigo, Lady Luck has highlighted the “great mutual benefits” to be felt through the purchase of the London-based group.
Under the terms of the deal, ReelNRG will continue to operate independently, bringing synergies in the form of cross-selling, cost optimisation and the chance to share technology and licences in the future.
With the purchase price consisting of 2.5 million newly issued shares at SEK 3.3 each, the transaction is expected to close at the end of the month, pending the customary documentation process.
Mads Jørgensen, CEO of LL Lucky Games, noted: “Through the acquisition of ReelNRG, we secure important customer integrations and licences for the LL portfolio.
“As a merged company, we now operate over 100 games and will be able to derive great mutual benefits from both the commercial synergies via cross-selling, but also on the cost side.
“This is a big step for LL Lucky Games, which further consolidates our position as a truly independent gaming studio who focus on the regulated markets.
“To operate via own licences secures larger revenue shares and market reach. We look forward to welcoming Calvin and his team together with Klein Group and the other shareholders in ReelNRG.”
Having welcomed “several reputable investors” – including Cherry, Yggdrasil, Coolbet and the ComeOn Group – since being established six years ago, ReelNRG owns a development studio in Hyderabad, India, and boasts 30 integrations alongside its igaming suite and aforementioned licences.
“To get LL Lucky Games as the new owner of ReelNRG marks an important new start for us,” remarked Calvin Kent, CEO of ReelNRG.
“The additional support from LL Lucky Games will bring us back stronger than ever and enable an improved delivery of our entertainment packages to our clients and their customers.
“Our new server infrastructure has now been completed and optimised and is ready to scale. Our team and our shareholders are super motivated to continue running the business as part of LL Lucky Games.”