Swedish online slots maker Lady Luck Games has entered into an agreement to acquire fellow iGaming content creator and provider Spigo ApS’s Denmark-facing operations.
The Stockholm-based studio announced Wednesday morning that it has signed a letter of intent after agreeing a purchase price, which was not disclosed.
Lady Luck Games is set to pay a combination of cash and newly issued shares. The transaction is anticipated to close before the end of the month.
The deal includes 27 online casino games produced by Spigo and eight customer integrations, including SPILLEHJØRNET and Tivoli Casino. Both online gaming brands are operated by Danske Spil, Denmark’s state-owned gambling operator. The acquisition will also see Lady Luck Games take over Spigo’s Denmark-certified platform, Spigo Station, as well as SPIGO SDK, a technical solution designed to accelerate game development.
Spigo founder and majority owner Kasper Kau will continue to be involved in the provider’s management, but in a new role. He will step in as Director of Business Development once the deal is finalized later in September. Spigo’s three game developers are set to join Lady Luck Games’ team, as well.
A Strategic Acquisition
Of their latest important news, Lady Luck Games CEO and co-founder Mads Jørgensen announced that this is a strategic acquisition for his company and that it will give them “important revenues, open up new revenue opportunities, and improve our profitability.”
Mr. Jørgensen went on to add that they are adding casino games with a strong track record and continuous growth over the past several years to their existing already strong library of content and an important technical aggregation platform.
The Lady Luck Games chief further pointed out that the deal has secured them with direct integration with Danske Spil and its iGaming brand to offer them the opportunity to build on their existing relationship with the operator.
Spigo founder Kasper Kau said that they have been looking for a partner that will take Spigo to the next level for a while now and that they have now found the perfect match that respects their history while also sharing their long-term vision for growth.
He went on to note that they are confident the deal will provide them with the right conditions to develop Spigo even further and will create “great potential synergies” where Lady Luck Games’ content will add value for their existing clients and strengthen their commercial position.
This is the latest in a series of big announcements made by Lady Luck Games in recent weeks. In August, the studio announced that its content is now available with 86 online casino operators via the EveryMatrix RGS. It should be noted that EveryMatrix backed financially the Stockholm-based studio ahead of its late June listing on Nasdaq First North Growth Market.