Adventure Box to Spend $16M on iGaming Assets Acquisition

Adventure Box Technology, a Swedish computer game technology company based in Stockholm, announced that it has entered into a non-binding Letter of Intent to purchase a portfolio of iGaming assets. This move reflects Adventure Box’s continued intense M&A activity.

Adventure Box Seeks Affiliate Marketing Growth

According to the announcement, the new assets will highlight the company’s foray into the marketing and affiliate sector, expanding its business and driving traffic to its portfolio of wholly owned casino brands. The new acquisitions will furthermore complement Adventure Box’s B2B offerings and drive long-term business growth.

Adventure Box said that the proposed transaction is in line with its diversification strategy and expansion ambitions. It underscored the popularity of affiliate services, which have been leading to unprecedented growth in gross gaming revenue for casino brands.

The new acquisition of iGaming assets will see Adventure Box secure ownership of Project Quantum, a company, which reported EUR 12.5 million in revenue and EBITDA of EUR 4.5 million for 2024. This acquisition will provide Adventure Box with access to digital marketing expertise, allowing it to significantly expand its reach.

The Acquisition Will Be Financed with Debt

Adventure Box announced that it has put forward a total of EUR 15 million ($15.8 million) for the acquisition of all associated assets and products. The deal will be paid in both cash and shares as follows:

• EUR 7 million in cash at closing
• EUR 1 million in cash after 12 months
• EUR 1 million in cash after 24 months
• EUR 3 million in common Adventure Box shares at closing
• EUR 1.5 million in shares after 12 months
• EUR 1.5 million in shares after 24 months

Adventure Box added that the acquisition is expected to be financed with debt. If approved, it should close by March 31, 2025. After that, Adventure Box will begin to integrate the assets into its existing business. It promised smooth transactions for both customers and partners.

The Transaction Will Empower Adventure Box

Duncan McIntyre, Adventure Box’s chief executive officer commented on the transaction, saying that the acquisitions will empower his company, providing it with “invaluable marketing expertise and management talent.” The arrangement will strengthen the company’s ability to provide best-in-class gaming experiences and drive revenue growth. It also sets Adventure Box up for further growth, McIntyre added.

Shareholder interests remain our top priority, and therefore, we are committed to financing significant acquisitions like this, as well as the previously announced transactions, through debt markets given the expected cash flow from these acquisitions and our low total debt/EBITDA ratios post-closing. We are currently evaluating various debt proposals to support our continued growth and expansion.

Duncan McIntyre, CEO, Adventure Box

The acquisition comes shortly after Adventure Box set out to buy RWB Smart Solutions and Lion Gaming Group.