Stockholm headquartered parent company of Lucky Games, LL Lucky Games AB, has announced the SEK8.25m (US$845k) acquisition of London studio, ReelNRG, adding 46 new games to its portfolio and important licenses in both the UK and Malta.
The purchase will be completed in Lucky Games shares and ReelNRG will continue to operate independently, with synergies in the form of cross-selling, cost optimisation and the possibility of sharing technology and licenses in the future.
Speaking on the acquisition Mads V. Jørgensen, CEO of LL Lucky Games, says: “This is a big step for Lucky Games where we consolidate our position as a truly independent gaming studio focused on the regulated markets. With another strategic acquisition, we are generating additional turnover through new revenue opportunities which will lead to the development of our profitability. The acquisition of ReelNRG secures key customer integrations and licenses and adds new casino games to our already strong product portfolio, along with our new development team in India. We are very excited and proud of the acquisition, and it is an honour to welcome them to Lucky Games.”
ReelNRG is a London-based game studio group and currently employs nine people including eight developers based in its own development studio in Hyderabad, India. The studio has developed and built its own technology and established strong distribution in the UK and other regulated markets under UKGC, MGA and Gibraltar licenses. Currently, ReelNRG’s portfolio consists of 46 games and over 30 integrations.