Bragg receives approval for Spin acquisition in early ’22
Bragg Gaming Group has announced that following the recent approval of the Pennsylvania Gaming Control Board, which is subject to licensing, the company has received all required regulatory approvals to complete its acquisition of Spin Games LLC, which it now expects to occur in early 2022. Bragg today also provided an update on its continued operating progress through its recent expansion into the Netherlands.
Yaniv Spielberg, Chief Strategy Officer for Bragg Gaming, commented: “As we near the completion of our Spin Games acquisition, we are excited by our near-term US growth prospects, as the transaction marks further progress against our content monetization and addressable market expansion initiatives. Spin’s existing relationships with the leading US iGaming operators and accomplished management team under Kent Young will significantly accelerate our entry into the US iGaming market and we remain on schedule to substantially grow our year-end 2022 total addressable market to more than USD $18 billion. We also expect the total addressable market will expand further as new states approve iGaming. As such, Bragg remains favourably positioned to accelerate our growth going forward.”
Commenting on Bragg’s pending acquisition, Kent Young, Spin Games’ Founder and Chief Executive Officer, said: “Our enthusiasm for becoming part of the Bragg family continues to grow as we see firsthand the Company’s ability to execute on its near- and long-term growth strategy. Based on the progress already achieved with our integration plan, we can hit the ground running following the completion of the transaction. We are confident that the combination of our existing footprint and extensive relationships with leading North American iGaming operators combined with Bragg’s focus on technology, highly engaging content and distribution will strengthen the combined company’s competitive position in this rapidly growing market.”