Adventure Box Technologies Ventures into iGaming with Lion Gaming Group Acquisitio

In order to get into the online gambling market, Adventure Box Technologies, a Stockholm-based company that develops computer game technology, paid SEK 475 million ($45 million) to acquire Lion Gaming Group, a Canadian provider of betting and gaming services.

Newly issued Adventure Box shares, valued at SEK 0.40 per share, will be used to finance the transaction.

Known for its iGaming technology, Lion Gaming is anticipated to contribute significantly to Adventure Box’s portfolio in 2024, with an expected SEK 180 million in EBITDA and a SEK 350 million turnover.

Through this agreement, Adventure Box is able to take advantage of Lion Gaming’s experience in the iGaming industry, which helps to improve its position in the market.

Mads Jørgensen, the chairman of the board at Adventure Box Technologies, expressed excitement on the acquisition, pointing to potential synergies between their KoGaMa platform and Lion’s gaming platform.

The CEO of Lion Gaming Group, Duncan McIntyre, echoed these remarks and emphasized the merger’s potential for development and international expansion.

Original Story by: Gambling Insider