Gaming RealmsGaming Realms, The UK online betting firm has announced that it has acquired a Seattle Group, RealNetworks for $18 million.

In the acquisition deal, Gaming Realms will settle $10 in cash to the distribution group and installments of $4 million will be paid annually for two years. It is said that the secondary payment will be given in shares but this is not yet official.

Gaming Realms issues an extra of 50 million shares valued at 25p to finance the purchase of RealNetworks.

The Acquisition deal will also see Gaming Realms securing Canadian Game Studios and GameHouse US including its entire gaming library contained within. Gaming realms will also secure Slingo brand and domains that include mahjohng.com, Sudoku.com and other various patents.

Patrick Southon, the CEO of Gaming Realms commented on the deal and said,

It has been a pleasure to acquire a well-established brand and compliments our current brands Spin Genie and Pocket Fruity. The addition of Slingo top our existing portfolio will surely deliver great gaming experience to our players.

Our directors believe that the acquisition deal will create a multi-brand and international developer in fun and real money gaming thereby improving the groups capabilities in marketing, distribution, development and ownership of intellectual property.

Categories: Casino News

Posted on: 27th July 2015 by: Gary Beachley