Lady Luck Games signals intent to acquire Revolver Gaming

Stockholm-based casino game developer Lady Luck Games has signed a Letter of Intent (LOI) to acquire games studio Revolver Gaming.

The two parties have agreed that the purchase price will consist of €750,000 (£629,829) in cash and approximately 4,200,000 newly issued shares in LL Lucky Games at a stock price of SEK3.00 (£0.25).

Due diligence permitting, the deal is expected to complete in either Q4 2021 or Q1 2022. Providing the deal goes through in the suggested timeframe, it would signal Lady Luck’s second acquisition in six months, following September’s purchase of Danish games studio, Spigo.

London-based Revolver currently boasts 15 unique games with a number of new games slated for future release in the first half of 2022. It has nearly 30 integrations resulting in its games being played across Europe, South America and Asia.

Carl Waahlin and John Penntoft will be joining Lady Luck as operational partners as part of the deal.

Mads V. Jørgensen, Lady Luck Games CEO, said: “The fact that LL Lucky Games can acquire a company of this calibre is a clear signal of strength.

“By combining the innovation of the Revolver team with the industry know-how of two igaming legends like Carl Waahlin and John Penntoft, I am convinced that we will have great benefit in the coming years by utilising their expansive knowledge and network,” he added.

Waahlin added: “By combining Revolver’s content and know-how with Lady Luck’s proven ability to aggressively acquire content to refine and launch to the market, we create a very exciting opportunity for everyone involved. I am extremely interested to see what these two brands can accomplish together on a global scale.”