Bally’s, Bragg Gaming, and Playtech Sign US Deals
With the Summer months upon us, we are beginning to see some big deals take shape in the regulated US online casino market. First, Playtech has launched its first mobile app in connection with its partnership with Parx Interactive. Meanwhile, Bragg Gaming Group is continuing its expansion into the US market by acquiring Las Vegas-based Wild Streak Gaming. Finally, Bally’s has completed the acquisition of Bet.Works and will use it to solidify its new interactive division.
Playtech Partners With Parx Interactive
Earlier this year, Playtech announced a partnership with Parx Interactive to provide online casino gaming to Michigan. Now, Playtech has launched its first mobile app in connection with that partnership. Play Gun Lake is the name of the new app and is powered by Playtech’s Player Account Management and IMS platforms.
According to Playtech COO Shimon Akad, “The launch of Playtech’s iGaming partnership with Parx Casino is another key milestone in the development and delivery of our US strategy. THEREFORE, the US is a highly sophisticated market and therefore demands a technology solution that provides a high-quality customer experience. We look forward to continuing our work with Parx Casino to deliver industry-leading gambling entertainment across multiple states and products.”
The app will bring a variety of online casino games to the region under the Parx Interactive platform. This is just the first of several gambling apps you can find in the state. Note that Michigan online gambling is only for those physically located in the state.
Bragg Gaming Group Acquires Wild Streak Gaming
Another US-centric move made this week is the acquisition of Wild Streak Gaming by Bragg Gaming Group. Bragg Gaming Group is a premier B2B gaming company that primarily services Latin America and Europe. However, the company is beginning to expand into the United States and this acquisition will help with that transition.
Wild Streak Gaming initially started as a land-based casino game developer out of Las Vegas. It has put more focus lately on online slots content. They presently have a portfolio of 39 games that cover land-based, online, and social casinos. They have been successful in the New Jersey market with Dragon Power and have various successful titles in Europe.
Terms of the deal see Bragg Gaming paying a total of $30 million for the company. This will be in the form of a $10 million upfront payment to the owners along with $20 million in common shares of Bragg distributed to the owners over the next three years.
Wild Streak Gaming’s CEO, Doug Fallon, will join Bragg after the close of the deal to become the company’s Managing Director of Group Content. According to Richard Carter, Bragg CEO, “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. 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.”
Bally’s Completes Purchase of Bet.Works
Bally’s Corporation has been working on the purchase of the US sports betting platform Bet.Works and has finally completed it. Bet.Works is a sports betting platform presently serving Colorado, Indiana, Iowa, and New Jersey. According to Bally’s, the deal makes the company a “premier, full-service, vertically integrated sports betting and igaming company in the US with physical casinos, online gaming solutions and a B2B2C business model united under a single, preeminent brand”.
Now that the deal has finalized, the company will split off into two divisions. Bally’s Casinos will focus primarily on land-based casino operations. Bally’s Interactive will focus on iGaming and sports betting.