GAN adds development muscle with Silverback Gaming acquisition

GAN has acquired Bulgaria and UK-based online casino game developer Silverback Gaming for an undisclosed fee.

The Nasdaq-listed supplier has not revealed the terms of the deal, however it also includes exclusive rights globally to all “current and future” Silverback games, which includes a development slate of more than 50 new titles over the next three years.

Part of this is to bolster GAN’s SuperRGS offering which launched in the US market last month, a relationship which will begin in the first half of 2022.

Two other rationales have been cited by GAN in its justification for the acquisition, the first falls under the firm’s M&A strategy to increase overall ‘take rate’ on existing B2B gross operator revenue derived from igaming.

The second is to grow GAN’s share of igaming revenue from B2C operators in the US that are not already platform clients of GAN.

Silverback Gaming currently distributes slot game content across Europe to more than 100 B2C operators.

GAN president and CEO Dermot Smurfit highlighted the SuperRGS enhancements derived from the acquisition as augmenting the firm’s US strategy going forward.

“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,” Smurfit explained.

“This 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,” Smurfit added.

GAN recently confirmed the signing of a contract with a ‘tier-one’ US igaming and sports betting operator to supply its sports betting and igaming platform under the operator’s brand across web and mobile, pending licensure in Ontario, Canada.