Gan Acquires Silverback Gaming

Gan Limited (NASDAQ: GAN), an Irvine, CA-based full-service internet gaming software-as-a-service provider to the real money internet gaming, online sports betting, and simulated gaming industries, acquired Bulgaria and U.K.-based online casino game developer Silverback Gaming.

The amount of the transaction was not disclosed. The deal is part of Gan’s content acquisition strategy to increase:

  • its ‘take rate’ on existing B2B Gross Operator Revenue coming from iGaming, as well as
  • its share of iGaming revenues from B2C operators in the U.S.

Silverback Gaming is a software company advancing online casino games. In particular, the company owns proven online slot games such as Aztec Luck™ and Mystery Stacks™, currently distributed across European regulated markets to more than 100 B2C operators of iGaming.

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The acquisition will give GAN the exclusive rights globally to all current and future Silverback online games, which the company forecasts to include 50 unique new slot games in the next 36 months. The deal will also bolster its SuperRGS offering launched last month in the U.S. The SuperRGS aggregation platform offers 35+ providers with 2,400+ games – including exclusive gaming content – through one integration with an exclusive portfolio of online casino slot gaming experiences. Silverback’s current portfolio of online slot games will launch within the SuperRGS content suite starting in the first half of 2022.

Led by Dermot Smurfit, President & CEO, GAN Gan is a business-to-business provider of internet gambling software-as-a-service (SaaS) solutions mainly across the U.S. land-based casino industry. It is also an operator of proprietary online sports betting technology with market leadership positions in select European and Latin American markets, through its Coolbet division. Gan acquired Coolbet for approx. $175.9m in cash and stock in November 2020 and integrated its proprietary sports betting technology into its Business-to-Business technology stack soon after the closing of the deal.

The company has developed a proprietary internet gambling enterprise software system, GameSTACK™, which it licenses to land-based casino operators as a technology solution for regulated real money internet gambling, encompassing internet gaming, internet sports gaming, and virtual Simulated Gaming.

Commenting on the deal, 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 U.S. We are very pleased with the progress surrounding our SuperRGS strategy and today’s announcement is the next exciting step in that strategic initiative.