Software supplier Global Daily Fantasy Sports has completed its acquisition of live dealer games supplier Playgon Interactive in a deal worth $9.5m.
Announced in December last year, the deal will see Global expand its footprint out of the daily fantasy sports sphere and into the live casino market.
Guido Ganschow, the president, chief executive and principal shareholder of Playgon, will join the Global board as part of the acquisition agreement.
“Live dealer is an exciting technology and I am thrilled to add this innovative next generation IP to our portfolio of digital content we can take to the market,” Global chief executive Darcy Krogh said.
“In my opinion, this is the best-suited technology that compliments the land-based gaming industry’s transition to digital. Guido and his team have built a fabulous mobile product that is scalable and versatile in its application to pursue opportunity in both the real money and social gaming verticals.”
Ganschow added: “The live dealer casino space has turned into a multi-billion dollar vertical within the online casino business and has clearly established itself as an exciting and growing part of the igaming market.
“From a product perspective, it has fallen short over the last couple of years, with lack of innovation and quality, especially for the mobile user, who currently represents over 70% of operator generated revenue.
“We saw a significant gap in what the industry continues to deliver in content, and we believe that our unique Vegas live dealer strategy, mobile first approach will bring real innovation and a true sense of Las Vegas to players online.”
Global’s 63.3m shares, issued to shareholders of Playgon as part of the deal, were set at an ascribed price of $0.15 each.