Reports have surfaced that Adventure Box Technologies, a Stockholm-based computer game outfit, has jumped into the online gambling game via snapping up Lion Gaming Group. For those not familiar, Lion is a provider of betting and gaming services.
The buyout, with a price tag of 475 million Swedish Krona (roughly $45 million), will be paid for through newly created Adventure Box shares costing 0.40 Krona each.
Now, here’s why this matters. Lion Gaming is bringing in some solid financials and room to grow, with 2024 turnover expected to hit 350 million Krona and EBITDA of 180 million. The company has built a rep on innovative online gambling solutions, including a platform enabling multi-chain and on-chain transactions.
Meanwhile, Adventure Box has planted its flag firmly in computer game-land through KoGaMa — a platform boasting over 750,000 monthly users focused on creating, sharing and playing 3D games.
Commenting on the deal, Adventure Box head honcho Mads Jørgensen spoke of building “a big new name in online gambling” and opportunities for KoGaMa and Lion’s platform to play off each other. He envisions the tag team developing global scale and bringing “cutting-edge tech that will shake things up” for the industry.
Lion Gaming CEO Duncan McIntyre added the merger would let them tap into Adventure Box’s experience and resources. He said it kicks off global expansion and keeping their leadership in online gambling technology — ultimately benefiting customers and shareholders.
The bottom line — this deal shows Adventure Box’s ambitions in online gambling, backed by confidence in realizing some solid synergies. Two innovative companies joining forces suggests potential to really stir things up in the industry. We’ll be watching closely to see if the strategic logic delivers the commercial goods.