Bragg Gaming to Acquire Drayton International

Bragg Gaming Group, a leading iGaming content and platform tech provider, announced that it has signed a deal to acquire Drayton International, a diversified gaming technology and content platform.

Additionally, Bragg said that Tekkorp Capital’s founder & chair, Matt Davey, has been named as non-executive chair of the Bragg board. 

A Bold Step Forward

Bragg called the acquisition of Drayton International a “bold step forward” for its business, saying that it aligns with its “commitment to crafting captivating proprietary gaming worlds.” Bragg said that the deal is also consistent with its ambition to remain a games-first company.

The company emphasized that the arrangement will sharpen Bragg’s focus, ensure its continued growth in the US, reinforce its AI capabilities, and strengthen its revenue growth.

Bragg published further details about the definitive acquisition agreement, saying that it will acquire 100% of the equity interest of Drayton for 4.5 million newly issued Bragg common shares priced at USD 2.00 per share. The securities issued in connection with the transaction will not be registered under the US Securities Act and may not be offered in the US, Bragg added.

The arrangement also gives Bragg rights to acquire full ownership of the five studios Drayton has stakes in. These include Boomerang Studios, Dream Streak Gaming, Rise Gaming, Hit Squad, and Neotopia. For context, Drayton also owns 100% of the following platforms: Arc Gaming, Vision PlAI, and 3 Shores.

The deal is subject to customary regulatory approvals and closing conditions. If the deal secures all necessary approvals, it should close in the third quarter of the year.

Matt Davey Joins Bragg as Non-Exec Chair

As mentioned, Bragg also named Matt Davey as non-executive chair. In this role, he will replace Holly Gagnon who will remain an independent director.

The appointment is related to the Drayton deal and demonstrates Davey’s confidence in Bragg’s outlook. Davey previously bought 1 million common shares in Bragg, further highlighting his optimism about the business.

Davey is also a Drayton shareholder who, after the two companies’ merger, will hold a stake of roughly 10% in Bragg.

CEO Mazij: The Deal Encapsulates Bragg’s Streamlined Strategy

Leaders commented on the news, with CEO Matevž Mazij describing the Drayton acquisition as a “highly strategic step forward.” He added that the deal encapsulates Bragg’s “streamlined and coherent user-focused strategy.”

Mazij added that the transaction marks Bragg’s foray into the ADW space, which turns parimutuel wagering into a high-engagement experience. Such products have been especially popular in the US, which is a core market for Bragg.

The US landscape is shifting, and we believe that Bragg’s relative speed and regulatory agility is already beginning to translate into our being leaders rather than followers in the Alternative Markets space.

Matevž Mazij, CEO, Bragg Gaming Group

Bragg’s newly appointed non-executive chair, Matt Davey, also commented on the deal, applauding Bragg’s strong foundation. He said that Drayton’s business will greatly complement Bragg’s by bringing in new games, technology, and distribution. Speaking about his appointment, Davey said:

After discussions with Matevž, his team, and other Board members, I am excited to invest my time and energy to help accelerate growth, drive operational performance, and enhance shareholder value. It’s clear we have a first-rate team, premium iGaming offering, and now a new vibrant aesthetic which I’m confident will be attractive to the market.

Matt Davey, non-executive chair, Bragg Gaming Group

Two months ago, Bragg revealed additional leadership changes.