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GAN completes acquisition of developer Silverback Gaming


Online gaming software provider GAN has completed the acquisition of online casino game developer Silverback Gaming.

Financial terms of the deal were not disclosed, but GAN did confirm that the acquisition provides it with the exclusive global rights to all current and future Silverback online games, which it expects will include 50 new slot games over the next three years.

GAN also said the deal would strengthen its SuperRGS offering, following the launch of the content suite in the US last month. Silverback’s existing portfolio of online slot games will launch within SuperRGS from the first half of 2022.

Silverback, which has offices in the UK and Bulgaria, distributes content to more than 100 B2C operators across regulated European markets and counts titles such as Aztec Luck and Mystery Stacks among its games.

GAN added that the deal forms part of its content acquisition strategy to increase its overall ‘take rate’ on existing B2B gross operator revenue derived from igaming, as well as growing its share of igaming revenue from B2C operators in the US that are not already platform clients of GAN.

“We are delighted to bring Silverback’s innovative slot content into GAN’s fast-growing portfolio of online slot games,” GAN president and chief executive Dermot Smurfit said.

“Silverback has built its reputation in this industry as a leading slot design innovator and we welcome the team’s talent, including slot mathematicians and software engineers, which will be an invaluable long-term asset as we build upon our strategy of expanding our exclusive online slot games for distribution in the US.

“We are very pleased with the progress surrounding our SuperRGS strategy and today’s announcement is the next exciting step in that strategic initiative.”

The deal comes after GAN last month reported a 213.6% year-on-year rise in revenue in the third quarter of its 2021 financial year, but its net loss widened to €7.9m (£6.8m/$9.0m).