AGS Acquires iGaming Aggregator and Content Provider Gameiom Technologies
– Strategic Acquisition to Propel Company into Real-Money Gaming Business
– Increases Distribution and Revenue Potential of AGS’ Popular Online Game Content
LAS VEGAS, June 19, 2018 – AGS (“the Company") (NYSE: AGS) announced today it has acquired Gameiom Technologies Limited (“Gameiom”), a UK and Gibraltar licensed iGaming aggregator and content provider for real-money gaming (“RMG”) and sports-betting partners. This transaction bolsters AGS’ diverse product portfolio with the ability to offer iGaming operators some of the highest-performing game content in the marketplace through Gameiom’s remote game server (“RGS”). Under the terms of the transaction, AGS has acquired Gameiom for $5 million in cash and will integrate Gameiom to serve as the launchpad for the Company’s iGaming division, which will become part of its AGS Interactive business segment.
“In assessing RMG providers, AGS felt it was important to pursue a pure content aggregation and distribution platform as opposed to a direct-to-consumer iGaming operation,” said David Lopez, President and CEO of AGS. “Gameiom fits that bill perfectly – their platform enables AGS to distribute our industry-leading game content into many markets, including the U.S, establishing a real-money gaming solution designed to generate revenue for AGS and our partners. Gameiom’s RGS platform is flexible, scalable, robust, and open, capable of delivering hundreds of games and sports-betting integration to operators quickly and reliably. More importantly, Gameiom’s values align with our playbook – they are passionate, team oriented, aspire to win, and a bit obsessed with gaming, just like us.”
Matt Reback, Executive Vice President of AGS, added: “This acquisition significantly expands the channels for our industry-leading game content to Gameiom’s key partners, which include BetVictor, Ladbrokes Coral, and William Hill, to name a few. Gameiom knows operators and game developers want to see their content go live as quickly as possible through a reliable integration on a robust platform, and that focus on speed and quality is why they have experienced rapid success over the past 18 months. Acquiring this team and their RMG technology further diversifies and enhances our interactive product suite.”
With offices and licenses in the UK and Gibraltar, Gameiom currently distributes content from more than 15 game suppliers including Ainsworth, Gaming Realms, Reflex Gaming, and 1X2 Network, providing access to more than 100 live games and a library of more than 1,000 additional games. As part of the acquisition, AGS will retain and employ the Gameiom team – including key executives Stuart Carr, Tony Ellis, Gary Hardy, and John Carr – ensuring a smooth transition for customers as AGS expands and grows the current product in the marketplace. Keystone Law acted as a legal advisor to Gameiom during the completion of this acquisition with AGS.