Connect with us

Canada

Bragg Gaming continues US expansion; acquires premium content developer Wild Streak Gaming

Published

on

 

Global B2B iGaming technology and content provider Bragg Gaming Group today announced that it has acquired Wild Streak Gaming (“Wild Streak“), a Las Vegas, Nevada based content creation studio with a portfolio of 39 premium casino slot titles supported across online and land-based applications.

Bragg signed a purchase agreement to acquire all of the outstanding membership interests of Wild Streak in a cash and stock transaction for a purchase price of approximately USD30 million. Pursuant to the Transaction, which closed simultaneously with the signing of the purchase agreement, the sellers of Wild Streak received USD10 million in cash at closing and will receive USD20 million worth of common shares of Bragg over the next three years, subject to acceleration in the event of a change of control.

Together with the pending acquisition of Spin Games (“Spin”), announced on May 12, 2021, the Transaction serves to advance Bragg’s acquisition strategy by increasing its ability to distribute and develop high-quality online casino content to the US market in-house. The Transaction provides Bragg with a library of 39 premium casino content titles, including several top performing land-based titles, and a robust suite of intellectual property and know-how including game designs, mathematic works, advance game mechanics and features that are specifically tailored for US markets.

Wild Streak’s design team comprises experienced mathematical and creative minds from the casino gaming industry and includes Doug Fallon, the founder and CEO of Wild Streak and a renowned land-based slot designer with over 20 years of industry experience. Doug worked in several executive marketing and design positions over 11+ years at Aristocrat before founding Wild Streak. Wild Streak has created popular games for the largest US land-based slots manufacturers and designed the games and mechanics behind several well-known land-based slots titles and brands along with successful games in both social and real money online casinos. Wild Streak has a library of land-based content that will be customized for the USA online market along with building upon existing high performers such as Dragon Power in the USA online market.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

Effective at closing of the Transaction, Mr. Fallon will join Bragg as Managing Director of Group Content and will play a key role in leading Bragg through its US content creation strategy while also collaborating closely with the Company’s European development staff to facilitate the cross-selling and repackaging of Bragg’s proprietary European content for US operators.

Upon the completion of the Spin and Wild Streak transactions, Bragg will have successfully executed on its strategy of acquiring the essential resources and technology assets required to become a tier one vertically integrated B2B iGaming business operating in US and Canadian markets. Bragg’s consolidated operations will comprise an enhanced full turnkey iGaming, content delivery and Player Engagement Platform with integrations into the majority of the tier one operators across both US and European markets, and a robust in-house content development function with localized market expertise that will allow the Company to expand its proprietary content offering.

Wild Streak reported USD1.05M in revenue and USD233,000 of EBITDA in FY2020, and USD487,000 in revenue and USD241,000 of EBITDA in Q12021.

“In an industry where premium content is king, Doug and his team have built up an enviable track record of developing leading premium casino slot content for both the land-based and online casino industry,” said Richard Carter, Chief Executive Officer of Bragg Gaming. “We look forward to integrating this know-how into Bragg’s overall offering and significantly expanding the Company’s higher margin proprietary in-house casino slot content capabilities.

“We expect this Transaction to be materially enhancing to both revenue and EBITDA  in the first full year of ownership, as well as strategically compelling given Wild Steak brings a wealth of US market casino games insights into the group, including valuable game designs, advanced game mechanics and features that are specifically tailored for and proven in the US market.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

“We welcome Doug and the whole Wild Streak team onboard, and we look forward to leveraging Doug’s expertise to lead our US and global content creation strategy,” he added.

“Richard and the Bragg Gaming executive team have put in place the strategy and key components to accelerate their growth and market share in the iGaming market, and Wild Streak is excited to be a cornerstone for their growth strategy,” commented Mr. Fallon. “We are highly impressed with the ORYX Gaming technology stack’s robust foundation and their roadmap for additional capabilities in development. We are looking forward to working with the ORYX team to create unique player experiences as we embed their technology into our game designs.”

“As the trends indicate, much of the historical content designed for Europe does not resonate with the traditional American player and we believe our background is an ideal fit with for the Bragg Gaming Group as it focuses on this emerging market,” he added.

Wild Streak Gaming Highlights

  • Initially focused on land-based game design and mathematics, Wild Streak has been increasingly focusing on online content as it customizes games for a wide variety of markets in the US and Europe.
  • Growing portfolio of 39 titles with a variety of game assets and design mechanics that service a broad array of operators and slot players with games deployed on 12 different platforms including land based, online and social casinos.
  • Passionate agile team with multiple employees having over 20 years of experience in the slot design industry working for some of the largest companies including IGT, Aristocrat, Scientific Games and Konami.
  • Wild Streak’s game content is distributed across six land-based platforms around the globe including traditional Class 3 casinos, video lottery terminal (VLT), limited payout machines (LPM) and Class 2 casino markets. Wild Steak has collaborated and deployed game content with leading global manufacturers including IGT and Scientific Games.
  • Proven performers in land-based casino market across multiple slot manufacturer platforms.
  • Highly successful in the NJ USA online market with Dragon Power and multiple successful titles released in Europe in 2021 including Congo Cash, Temujin Treasures, and Amazing Money Machine.

Bragg Gaming Group Highlights

  • Leading global business-to-business gaming technology and content provider serving markets primarily in Europe and Latin America via its proprietary ORYX Gaming full turnkey solution.
  • Its modular, scalable and fully customizable ORYX Gaming technology and content solutions have been developed, licensed, launched and operated on behalf of more than 125 iGaming and sports betting operators worldwide.
  • The full ORYX turnkey solution offers online casino, sportsbook and lottery operations including the proprietary ORYX remote games server, ORYX Hub and the powerful new Player Engagement Platform (PEP).
  • The innovative PEP suite of engagement tools offers proven retention-boosting gamification features such as Quests, Achievements, Leaderboards, Tournaments and bespoke Jackpot game promotions.
  • Richard Carter was recently announced as CEO of Bragg, moving from the position of Board Chair, which he had held since October 2020.

Powered by WPeMatico

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)
Continue Reading
Advertisement

AGCO

AGCO: Casino Days Penalized $54,000 for Deceptive and High-Risk Bonus Offer

Published

on

agco:-casino-days-penalized-$54,000-for-deceptive-and-high-risk-bonus-offer

 

The Alcohol and Gaming Commission of Ontario (AGCO) has issued a $54,000 monetary penalty alleging Well Played Media, Unipessoal LDA promoted a deceptive bonus on its Casino Days website. The bonus offer is alleged to have encouraged high-risk behavior and failed to properly disclose key terms.

The AGCO launched an investigation triggered by a player who complained that more than $8500 in winnings had been confiscated by Casino Days. The investigation reviewed a so-called “welcome bonus” that promised new players up to $2000.

However, to qualify for the full bonus amount, players had to:

Deposit $2000 of their own money;

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

Wager $70,000 (35 times the deposit);

Keep each wager at or under $5; and

Complete all wagering requirements within 7 days.

Investigators also found that certain terms of the bonus offer were difficult to find, buried behind multiple links on the site.

AGCO’s analysis showed that the average player would first lose $3640 trying to earn the $2000 bonus.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

According to Ontario’s igaming rules, registered operators must not offer bonus promotions that encourage harmful gambling behavior and fail to disclose key conditions appropriately. Further, operators are not permitted to entice players with bonuses that cannot reasonably be attained without significant gambling losses.

These rules are in place to protect players and support a safe, regulated market—one that stands in contrast to the risks of unregulated gambling sites.

An igaming operator served with an Order of Monetary Penalty by the AGCO Registrar has the right to appeal the Registrar’s decision to the Licence Appeal Tribunal (LAT), an adjudicative tribunal that is part of Tribunals Ontario and independent of the AGCO.

“Player protection is a non-negotiable priority for the AGCO. We expect operators to be truthful and transparent about their promotions, and we also require them to ensure that those promotions do not encourage reckless or harmful patterns of play. An offer that requires a player to sustain substantial losses for a perceived benefit is not a fair offer. This penalty sends a clear signal that we will not hesitate to take action against operators who fail to meet their obligations to protect Ontario players,” Dr. Karin Schnarr, Chief Executive Officer and Registrar of AGCO.

The post AGCO: Casino Days Penalized $54,000 for Deceptive and High-Risk Bonus Offer appeared first on Gaming and Gambling Industry in the Americas.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)
Continue Reading

AGCO

What’s next for online gambling in Canada?

Published

on

what’s-next-for-online-gambling-in-canada?

 

Having provided the perfect case study for the benefits of legalised online gambling in Canada, we caught up with Bede’s Chief Executive Officer, Colin Cole-Johnson, to discuss why other provinces may look to follow Ontario’s example in the future and what challenges operators will need to be ready for when they do.

With the regulated online gambling market in Ontario recently being recognised as one of the largest in the world, operators will feel there’s plenty of untapped potential to be realised not just in the province itself, but in Canada as a whole, over the coming months. And for good reason too.

Since legalising online gambling in 2022, the Alcohol and Gaming Commission of Ontario (AGCO) has established a go-to framework for how regulators introduce rules and standards that protect players and enable operators to flourish – and no better is this illustrated than in the performance of the Ontario Lottery and Gaming Corporation (OLG), which has continued to make a hugely positive contribution in the province over the past few years.

Having already paved the way for successful open market regulation through a number of progressive initiatives, with even more yet to come – such as the proposed centralised self-exclusion model –  it certainly wouldn’t be a surprise to see other organisations turn to AGCO as an example of how regulations can be introduced both sustainably and profitably; and this will likely present several opportunities for operators as well.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

From Bede’s experience in the country, Canadian regulators are thorough and well organised. Any province looking to follow the success of Ontario will no doubt look to AGCO for inspiration, and this may lead to similar regulatory frameworks in other new territory launches. As the gaming community in Canada is so connected, we’ve already seen cross-operator interest in sharing regulatory knowledge, meaning there’s a wealth of information waiting to be leveraged.

As the most likely province to regulate next, Alberta has already shown a preference for following an open-market model similar to Ontario’s, with the input of various industry stakeholders set to guide the way. The onboarding process for operators seeking to enter this potentially vibrant new market is likely to follow promptly after the new framework is enacted, so existing experience and relationships within the Ontario market should prove advantageous for those looking to hit the ground running.

For Bede, our years working closely with AGCO leave us well positioned to enter additional provinces in the future, and we greatly value the guidance and support we gain from having a direct relationship with the regulator. We aspire to grow even further in Canada by forming more provincial partnerships, and our learnings from Ontario will undoubtedly form a key part of this.

Internally, we have a strong framework for new market entry and regulatory compliance that includes cross-functional representation across the business. We understand the heavy lifting that goes into a launch and the complexity of licensing and delivering a new technical solution. Our approach always involves an analysis of the requirements from a compliance, risk, audit and financial perspective, as well as identifying any gaps where our products can make an impact with the right strategic solutions.

Taking the Ontario market as an example, we’ve seen some noticeable changes in player behaviour in recent years, meaning operators must be prepared to adapt in order to keep up with emerging trends. Although we’ve seen growth for our partners in the digital space, retail remains a predominant revenue stream for Canadian operators. As digital continues to grow, it’s important to provide a seamless end-to-end experience for players across channels, to be effective omni-channel solutions.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

As more choice becomes available in the market, offering competitive payment and withdrawal options will be important. A critical part of the player journey that is often overlooked is the preference among players for easy access to preferred payment methods. A great example of innovation in this area is our Lottery Direct Pay method, where players can purchase tickets directly from their card without first having to load their wallet – creating a faster user journey that appeals to a wider audience.

Aside from these payment considerations, it’s worth noting that community engagement features and personalisation are both playing a more prominent role in the Canadian gaming landscape. Particularly among younger audiences, having the ability to offer a shared experience is becoming increasingly important to generating sustained engagement. For example, we’ve already seen OLG enjoy a significant uplift in overall ticket sales since launching the innovative Lottery Group Play tool.

Similarly, the power of personalisation cannot be understated when it comes to building player activity and retention. Through partnerships with companies such as XtremePush and Future Anthem, Bede has endeavoured to utilise more machine learning and AI systems that can broaden the customisation options available for customers, while our dynamic segmentation tool enables them to target user groups more effectively and automate the player journey in real time.

Of course, from the moment Ontario launched a legalised online gambling framework, regulators were required to focus their efforts on keeping up with increased accessibility and, therefore, increased risk of harm to the public. Should another province like Alberta also legalise online gambling in future, the same challenges will exist – and this presents an important opportunity for operators to both educate players on responsible gaming protocol and enforce it.

Given Bede has been operating in highly regulated markets for over 13 years, we have both an established suite of RG tools and in-depth knowledge of how to use them effectively. Evidenced in the UK market and beyond – Bede has developed its platform to meet the tightening controls that have been issued over every aspect of online gambling – enabling operators to create their own tailored mix of tools that best support their players.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

Notably, the upper limit functionality in our RG toolset gives our customers the option to monitor and respond to potential problem behaviour by setting maximum limits for specific players. The players may opt to further decrease their own limits, but they’ll be unable to exceed the maximum setting until/unless the operator removes them, reducing the harm they could potentially experience. As well as outright prevention, being able to educate a player in such a moment is equally important – and using our platform, operators can send appropriate, personalised messages to users that encourage them to alter their play and even think about setting time out periods where necessary. For example, our partners can use our Player Interaction feature to set alerts from the front end based on pre-defined player behaviours, and then use that information for RG activities; if a player returns to a page a certain number of times, it can automatically trigger personalised messages to encourage the player to set a limit.

As responsible gaming is a constantly evolving topic in Ontario and other new markets in Canada are likely to experience similar growing pains, supporting regulatory efforts through the smart adoption of harm prevention tools will be a key part of gaining a foothold. This, coupled with the other regional considerations we’ve outlined in this article will be crucial to any operator’s future success in the country; and there are definitely big opportunities on offer for those who get it right.

The post What’s next for online gambling in Canada? appeared first on Gaming and Gambling Industry in the Americas.

Continue Reading

Canada

Thunderkick’s portfolio makes Ontario debut through SkillOnNet brands

Published

on

thunderkick’s-portfolio-makes-ontario-debut-through-skillonnet-brands

Global entertainment brand SkillOnNet is deepening its existing partnership with Stockholm-based game studio Thunderkick to launch the developer’s unique, engaging slot titles in Ontario.

The Canadian province is one of the most exciting regulated markets in North America, and the Ontario players will now gain access to Thunderkick’s full portfolio of highly acclaimed games via SkillOnNet-powered online casino brands such as PlayOJO, SlotsMagic, and SpinGenie.

Thunderkick is known for its independent, boundary-pushing slot games like Pink Elephants, Esqueleto Explosivo, and Beat the Beast and has established a strong reputation for creativity and originality in the iGaming space. The deal allows the studio to further expand its global footprint while giving Ontario players the chance to enjoy a fresh wave of premium content.

Ontario’s regulated online gaming market, which officially opened in 2022, has quickly become a key market for the iGaming industry, and SkillOnNet was among the first brands to secure licensing in the province. The expansion reinforces SkillOnNet’s commitment to delivering top-tier entertainment in regulated markets globally.

Jani Kontturi at SkillOnNet said: “Thunderkick has been a key partner of ours in other markets, and we’re delighted to bring their outstanding content to Ontario. This region is fast becoming a vital part of our operations, and we’re confident players here will respond just as positively to Thunderkick’s games as they have elsewhere.”

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

Mariam Dodosh, Account Manager at Thunderkick said: “We’re thrilled to expand our relationship with SkillOnNet and enter the Ontario market together. Our games have a track record of strong performance, and we’re excited to see them go live in one of the most dynamic new regions in iGaming.”

The post Thunderkick’s portfolio makes Ontario debut through SkillOnNet brands appeared first on Gaming and Gambling Industry in the Americas.

Continue Reading

Trending

Get it on Google Play

Fresh slot games releases by the top brands of the industry. We provide you with the latest news straight from the entertainment industries.

The platform also hosts industry-relevant webinars, and provides detailed reports, making it a one-stop resource for anyone seeking information about operators, suppliers, regulators, and professional services in the European gaming market. The portal's primary goal is to keep its extensive reader base updated on the latest happenings, trends, and developments within the gaming and gambling sector, with an emphasis on the European market while also covering pertinent global news. It's an indispensable resource for gaming professionals, operators, and enthusiasts alike.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2024 - Recent Slot Releases is part of HIPTHER Agency. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania