Adventure Box Technologies, a Stockholm-based leader in computer game technology, has announced a major expansion into the global online gambling industry with the acquisition of Canadian betting and gaming services provider Lion Gaming Group.
Adventure Box has signed a Letter of Intent to acquire 100% of Lion Gaming Group’s shares for SEK 475 million (US$45 million). This transaction will be executed through the issuance of new Adventure Box shares at SEK 0.40 per share.
This acquisition represents a significant milestone for Adventure Box, marking its official entry into the online gambling sector. Lion Gaming Group is already a revenue-generating entity, with projections for 2024 showing a turnover of SEK 350 million (US$33 million) and an EBITDA of SEK 180 million (US$17 million).
Lion Gaming has carved out a strong reputation as a leading iGaming technology provider. Its cutting-edge platform supports multi-chain, on-chain transactions, offering fully customizable white-label sportsbook and casino solutions.
These solutions are powered by the innovative Fer0x Engine, which integrates state-of-the-art features, blockchain technology, NFT integrations, web3 solutions, and world-class engineering to deliver next-generation player experiences.
This acquisition not only expands Adventure Box's market reach but also integrates its prowess in the computer games industry with Lion Gaming’s advanced technology, creating a powerful new player in the global online gambling space. Adventure Box’s flagship online platform, KoGaMa, already boasts over 750,000 active users per month who create, share, and play 3D computer games.
Mads Jørgensen, Chairman of the Board at Adventure Box Technologies, commented: "We are creating a major new player in the iGaming market through the acquisition of Lion Gaming Group, and we see opportunities for synergies between the KoGaMa platform and Lion's gaming platform.
This acquisition lays the foundation for a global player powered by cutting-edge technologies that will change the game for operators, suppliers, and most importantly, players."
Adventure Box and Lion Gaming share a unified vision for the gaming market, especially regarding synergies between KoGaMa’s platform and Lion's advanced gaming technology, including web3 development and cross-user acquisition.
This strategic acquisition aligns with Adventure Box’s broader objectives and opens up new avenues for game development and additional M&A opportunities both within and beyond the gambling sector.
Michal Bendtsen, CEO of Adventure Box Technologies, stated: "This strategic move significantly enhances our footprint in the video game industry. This acquisition not only broadens our scope and capabilities within the gaming ecosystem but also introduces new revenue streams.
We are confident that this will bring value to our shareholders and accelerate our growth trajectory in the ever-evolving gaming market."
Duncan McIntyre, CEO of Lion Gaming Group, added: "We look forward to becoming part of Adventure Box Technologies and benefiting from their extensive experience and resources to further develop our business. This merger gives us the opportunity to benefit from synergies and strengthen our presence globally, which benefits both our customers and shareholders.
We are confident that this transaction will provide us with the tools and support we need to continue to be a leader in iGaming technology through organic growth and acquisition of new businesses."
With this acquisition, Adventure Box Technologies is set to revolutionize the iGaming industry, leveraging its expertise in computer gaming to deliver unparalleled experiences to players worldwide.
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