Lady Luck Games signs Letter of Intent to acquire ReelNRG
ReelNRG and Lady Luck Games could be a match made in lucky heaven!
Stockholm based iGaming company, Lady Luck Games, has signed a Letter of Intent (LOI) to acquire the ReelNRG and add 46 new games. In addition to this, acquiring the ReelNRG would secure important licences in the UK and Malta.
Lady Luck Games is known for popular online slots such as Madame Clues and Rooftop Fight. Both parties intend to complete this transaction during April following the customary documentation process.
About ReelNRG
ReelNRG Limited is a studio based in London with companies and organisations across the United Kingdom and Malta. Founded in 2016 by Calvin Kent and Harsharan Gill, the company has extensive knowledge in the sector such as including the Klein Group (Cherry, Yggdrasil and Coolbet and the ComeOn Group).
The studio currently has a staff of nine with a development team in Hyderabad, India. ReelNRG has built its own technology and distributed in the UK and other regulated markets under UKGC, MGC and Gibraltar licences.
“This is a big step,” says Lady Luck Games
“Through the acquisition of ReelNRG, we secure important customer integrations and licenses for the LL portfolio. As a merged company, we now operate over 100 games and will be able to derive great mutual benefits from both the commercial synergies via cross-selling, but also on the cost side,” said CEO of Lady Luck Games, Mads V. Jørgensen.
He added: ”This is a big step for LL Lucky Games, which further consolidates our position as a truly independent gaming studio who focus on the regulated markets. To operate via own licenses secures larger revenue shares and market reach. We look forward to welcoming Calvin and his team together with Klein Group and the other shareholders in ReelNRG.”
“An important new start for us,” says ReelNRG
“To get LL Lucky Games as the new owner of ReelNRG marks an important new start for us. The additional support from LL Lucky Games will bring us back stronger than ever and enable an improved delivery of our entertainment packages to our clients and their customers,” said Calvin Kent, CEO of ReelNRG.
He concluded: “Our new server infrastructure has now been completed and optimized and is ready to scale. Our team and our shareholders are super motivated to continue running the business as part of LL Lucky Games.”
