LL Lucky Games AB to Sign Letter of Intent for ReelNRG Acquistion

LL Lucky Games AB, a specialized provider of casino content, has just signed a Letter of Intent (LOI) aiming to acquire ReelNRG while adding 46 innovative games and securing licenses in the UK and Malta.

ReelNRG Limited is a company based in London with operations in both the UK and Malta. Since its foundation in 2016 by Calvin Kent and Harsharan Gill, the company has been making strides in the sector. Its co-owners are famous investors with deep knowledge in the iGaming industry such as Klein Group (Cherry, Yggdrasil and Coolbet, and the ComeOn Group). ReelNRG consists of 9 people and eight of them are a developer from India.

Thanks to its development studio in Hyderabad, India, ReelNRG has created and built its tech solutions and secured regular distribution in the UK and other markets operating under the UKGC, MGA, and Gibraltar licenses. ReelNRG’s suite also includes 46 titles and more than 30 integrations.

Meanwhile, ReelNRG continues to work independently and LL Lucky Games AB plans to join forces with the provider via cross-selling, optimization of costs, and the chance to share technology and other licenses. They have already secured the purchase price of 2 500 000 recently issued shares and they will be issued under a share price of SEK 3.30. 

Commenting on the new milestone, Mads V. Jørgensen, CEO of LL Lucky Games said:

“Through the acquisition of ReelNRG, we secure important customer integrations and licenses for the LL portfolio. As a merged company, we now operate over 100 games and will be able to derive great mutual benefits from both the commercial synergies via cross-selling, but also on the cost side.”

According to his words, this is a great step for LL Lucky Games which will consolidate its position as an independent gaming provider focused on the regulated markets. Working with its license allows the company to get even larger revenues and market presence. They look forward to greeting Calvin and his squad together with Klein Group and the other members of ReelNRG.

CEO of ReelNRG, Calvin Kent says that getting LL Lucky Games as the latest owner of ReelNRG represents an important start for the brand. The support from LL Lucky Games will make them stronger than ever and allow improved delivery of their entertainment content to clients and customers. Their new server infrastructure has been enhanced and optimized. Its team and shareholders are inspired to continue running the business within the LL Lucky Games.

Source:

“LL Lucky Games AB signs Letter of Intent to acquire ReelNRG”, europeangaming.eu, April 8, 2022.