Lady Luck signs letter of intent to obtain Revolver Gaming

Lady Luck signs letter of intent to obtain Revolver Gaming

Published: November 23, 2021

Lady Luck Games, a Stockholm-based online casino content provider, has signed an exclusive letter of intent to acquire Revolver Gaming. Both parties have agreed on the transaction terms, under which the price will be €750,000 (roughly $850,000) in cash.

The amount is combined with 4.2 million shares (3.00 SEK per share), via a set-off issue. Revolver currently has a total number of 44,905,472 outstanding shares with a dilution of about 8.5%.

Revolver Gaming has its own platform that offers seamless integration to third-party providers and smooth distribution to its expanding network of customers.

Furthermore, it provides Revolver’s exclusive tailored casino games and other content with a development service and customised design to online casinos.

The company has planned to expand its footprint in the following six months with a host of thrilling games. The partnership with Lady Luck Games will accelerate the projected way to success.

The purchase is scheduled for Q4 2021 – Q1 2022. After all the necessary procedures, Lady Luck will add two legends to its roster, John Penntoft and Carl Waahlin.

The former is an early investor in iGaming and technology and entrepreneur situated in Asia. The latter has been delivering products to Asia for 20 years. Both are excited to create fantastic opportunities for both companies to dominate the market with exclusive content.

Commenting on the partnership, Mads Jørgensen, CEO of Lady Luck Games, stated:

This is our second acquisition in the last three months, and I am pleased to be able to show our shareholders and the market that we are delivering on our set acquisition strategy. The fact that LL Lucky Games can acquire a company of this calibre is a clear signal of strength. We have identified a number of clear synergies, and I am extremely happy to have the privilege of working with the ambitious team at Revolver Gaming in the future.

About Lady Luck Games

Lady Luck Games is a company that develops online casino games/online slots that provide a phenomenal player experience, high quality and superb design. Founded in early 2019, the enterprise is a winning combination of creativity, quality, knowledge and technological prowess.

Hard work, entertainment and passion are the values the company promotes, looking to deliver unforgettable gaming experiences to the prospective markets.

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