(AsiaGameHub) –   Bragg Gaming Group, a prominent provider of iGaming content and platform technology, has announced the signing of an agreement to acquire Drayton International, a company specializing in diversified gaming technology and content platforms.

In addition to the acquisition, Bragg stated that Matt Davey, founder and chair of Tekkorp Capital, has been appointed as the non-executive chair of the Bragg board.

A Bold Step Forward

Bragg has characterized the acquisition of Drayton International as a “bold step forward” for its operations, asserting that it aligns with the company’s dedication to “crafting captivating proprietary gaming worlds.” Bragg further indicated that this transaction is consistent with its strategic objective to maintain its position as a games-first organization.

The company highlighted that this arrangement will refine Bragg’s strategic focus, support its ongoing expansion in the US market, enhance its artificial intelligence capabilities, and bolster its revenue growth.

Bragg provided further specifics regarding the definitive acquisition agreement, revealing that it will acquire 100% of Drayton’s equity interest through the issuance of 4.5 million new Bragg common shares, valued at USD 2.00 per share. Bragg also noted that the securities issued in connection with this transaction will not be registered under the US Securities Act and will not be offered for sale within the United States.

The agreement also grants Bragg the rights to obtain full ownership of the five studios in which Drayton holds stakes. These studios include Boomerang Studios, Dream Streak Gaming, Rise Gaming, Hit Squad, and Neotopia. Additionally, Drayton holds a 100% ownership of the following platforms: Arc Gaming, Vision PlAI, and 3 Shores.

The completion of the deal is contingent upon standard regulatory approvals and closing conditions. If all necessary approvals are secured, the transaction is expected to conclude in the third quarter of the year.

Matt Davey Joins Bragg as Non-Exec Chair

As previously mentioned, Bragg has also appointed Matt Davey as its non-executive chair. In this capacity, he will succeed Holly Gagnon, who will continue to serve as an independent director.

This appointment is linked to the Drayton transaction and signifies Davey’s confidence in Bragg’s future prospects. Davey had previously acquired 1 million common shares in Bragg, further underscoring his positive outlook on the company.

Davey is also a shareholder in Drayton and, following the merger of the two companies, will hold approximately a 10% stake in Bragg.

CEO Mazij: The Deal Encapsulates Bragg’s Streamlined Strategy

In commenting on the developments, CEO Matevž Mazij described the acquisition of Drayton as a “highly strategic step forward.” He further stated that the deal embodies Bragg’s “streamlined and coherent user-focused strategy.”

Mazij added that this transaction represents Bragg’s entry into the ADW (Advanced Deposit Wagering) sector, which transforms parimutuel wagering into a highly engaging experience. Such products have demonstrated significant popularity in the US, a key market for Bragg.

The US landscape is shifting, and we believe that Bragg’s relative speed and regulatory agility is already beginning to translate into our being leaders rather than followers in the Alternative Markets space.

Matevž Mazij, CEO, Bragg Gaming Group

Bragg’s newly appointed non-executive chair, Matt Davey, also shared his perspective on the deal, commending Bragg’s robust foundation. He indicated that Drayton’s business will significantly complement Bragg’s by introducing new games, technology, and distribution channels. Regarding his appointment, Davey commented:

After discussions with Matevž, his team, and other Board members, I am excited to invest my time and energy to help accelerate growth, drive operational performance, and enhance shareholder value. It’s clear we have a first-rate team, premium iGaming offering, and now a new vibrant aesthetic which I’m confident will be attractive to the market.

Matt Davey, non-executive chair, Bragg Gaming Group

Bragg announced further leadership changes two months prior.