Spiffbet has announced intentions to offload its game production company to famous Swedish games studio, Million Games, in a deal valued up to SEK3.5 million (£257,412/€298,787/$326,889) in a strategic decision that shows its dedication to simplified operations. Million Games will take over STHLM Gaming Sweden, as well as the whole Rhino Gaming portfolio and associated intellectual property rights, as part of the transaction.
Spiffbet’s decision to sell its game production unit stems from a careful examination of its portfolio’s performance over the last year. Despite a track record of success, the game development sector has taken a second seat in terms of contribution. The business acknowledged the division’s dwindling importance and said it will be subjected to a rigorous liquidation study.
This historic move also demonstrates Spiffbet’s strategy shift toward expanding its online casino activities. Spiffbet intends to capitalize on the full potential of this rapidly developing sector by focusing its efforts only on its successful online casinos.
According to the terms of the agreement, Spiffbet will maintain the exclusive right to provide the games included in the transaction to players for free for one year following integration onto the Million Games platform. This includes not just selling games on its own casino platforms, but also expanding its reach through collaborations with other companies.
CEO Henrik Svensson affirmed the potential of STHLM Gaming, acknowledging its notable returns. Nevertheless, he emphasized that the demands of nurturing the game development segment alongside the burgeoning online casino domain posed resource constraints. Svensson noted, “The requisites for a thriving game development enterprise involve substantial investments in novel game creation and the establishment of robust sales channels. Given our paramount focus on the casino realm, these requisites were untenable. Thus, the decision to seek a new custodian for the game development business, one that can propel it to greater heights, was only logical.”
Similarly, Million Games founder Thomas Nimstad hailed the acquisition as a springboard to quick development. Million Games intends to significantly strengthen its game catalog by obtaining access to STHLM Gaming NG and the legendary Rhino Gaming brand, improving its competitive advantage in a congested industry.
Spiffbet forecasts a good jump in earnings in the third quarter as the shift takes place, indicating a favorable trend in its revised operating picture. With Million Games preparing to assume the helm, the stage is set for new synergies in the gaming industry, highlighting the market’s dynamic and ever-evolving character.
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