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Tech titan from the computer games industry snaps up bleeding-edge sports and casino tech provider to form new gambling industry power player
Adventure Box Technologies, the Stockholm-headquartered computer game tech company, has boldly moved into the global online gambling industry by acquiring Canadian betting and gaming services provider, Lion Gaming Group.
Adventure Box Technologies has put pen to paper on a Letter of Intent to acquire 100% of the shares of Lion Gaming Group for a total of SEK 475 million (US$45m), which will be paid through newly issued shares in Adventure Box at a share price of SEK 0.40 per share.
The acquisition will provide a major boost to Adventure Box. Not only does it mark its entry into the online gambling space, but Lion Gaming is revenue generating with 2024 turnover expected to reach SEK 350 million ($33m) with an EBITDA of SEK 180 million ($17m).
Lion Gaming has established itself as a leading iGaming technology provider with a bleeding-edge platform that supports multi-chain, on-chain transactions.
Its offering includes fully customisable white-label sportsbook and casino solutions powered by its innovative Fer0x Engine, which combines state-of-the-art features, blockchain technology, NFT integrations, web3 solutions and world-class engineering to allow operators to deliver next-gen player experiences.
The acquisition propels Adventure Box into the global online gambling space with the company already considered a power player in the computer games industry.
Adventure Box provides streamed games via its flagship online platform, KoGaMa, with users able to create, share and play 3D computer games. Today, more than 750,000 people are active on the KoGaMa platform each month.
Mads Jørgensen, Chairman of the Board of Adventure Box Technologies, said: “We are creating a major new player in the iGaming market through the acquisition of Lion Gaming Group, and we see opportunities for synergies between the KoGaMa platform and Lion’s gaming platform.
“This acquisition lays the foundation for a global player powered by power, bleeding edge technologies that will change the game for operators, suppliers and most importantly, players.”
Adventure Box and Lion share the same vision for the gaming market, especially with synergies between the KoGaMa platform and Lion’s gaming platform and universe, including Web3 development and cross-user acquisition.
The transaction opens up opportunities in game development and aligns with Adventure Box’s strategic focus and business objectives, with additional M&A opportunities always being explored and considered both in and out of the gambling sector.
Michal Bendtsen, CEO of Adventure Box Technologies, said: “This strategic move significantly enhances our footprint in the video game industry. This acquisition not only broadens our scope and capabilities within the gaming ecosystem but also introduces new revenue streams.
“We are confident that this will bring value to our shareholders and accelerate our growth trajectory in the ever-evolving gaming market.”
Duncan McIntyre, CEO of Lion Gaming Group, added: “We look forward to becoming part of Adventure Box Technologies and benefiting from their extensive experience and resources to further develop our business.
“This merger gives us the opportunity to benefit from synergies and strengthen our presence globally, which benefits both our customers and shareholders. We are confident that this transaction will provide us with the tools and support we need to continue to be a leader in iGaming technology through organic growth and acquisition of new businesses.”
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Flutter Entertainment named as headline sponsor of ICE Sustainable Gambling Zone
Clarion Gaming has announced that Flutter Entertainment, the parent company of the world’s leading online sports betting and iGaming operator, will be the headline sponsor of the Sustainable Gambling Zone (SGZ) at ICE Barcelona, the world’s biggest gambling technology exhibition which will be attended by 55,000 gambling industry professionals.
Flutter, which has been a long-term supporter of Clarion Gaming’s safer gambling undertakings, is also making a donation to ICE Barcelona’s safer gambling charity fund as well as having its own stand to showcase how Flutter is changing the game for good by providing education, tools and support to help everyone Play Well, on the SGZ.
In 2022 Flutter introduced its Play Well strategy to support its customers in making informed choices and managing their betting and play responsibly. Flutter set itself the target of having 75% of active online customers using a Play Well tool by 2030. By the end of Q2 this year (2024), 47.5% of customers were already engaged with these tools – double from FY 2022 – marking steady progress towards our goal. This effort has been supported by a significant investment – over $101m in 2023 – in research, product development and marketing.
Ewa Bakun, Clarion Gaming’s Director of Industry Insight and the person responsible for introducing the Consumer Protection Zone to the ICE show floor in 2018 said: “I am absolutely delighted to be able to confirm Flutter as our headline sponsor. I regard this as being a game-changer for SGZ which is being officially launched in Barcelona after undergoing a re-brand. The rebranding to the Sustainable Gambling Zone, which was a decision taken in partnership with our industry stakeholders reflects a deeper understanding of the importance of early interaction. By focusing on the identification of potential risks earlier in the player journey, it’s possible to prevent harm before it escalates.”
Jane Palles, Group Head of Safer Gambling, Flutter added: “Our customers are at the heart of everything we do, and we want them to have an entertaining, positive experience with us. We start 2025 with a continued focus on player wellbeing. This sponsorship underscores our dedication to sustainability”.
“Play Well focuses on fostering a positive and responsible gaming environment, with initiatives like enhanced customer tools, personalized risk monitoring, and partnerships with expert organizations.
“We are delighted to be supporting the new Sustainable Gambling Zone at ICE Barcelona and will showcase our continued efforts, share insights, and collaborate with stakeholders to drive forward the shared mission of safer gambling for all.”
The 2025 ICE Sustainable Gambling Zone will occupy 490sqm of space and located in the Fast Forward area of the showfloor, underlining the importance the industry places on sustainability and player protection. As well as featuring a total of 26 safer gambling bodies including Spanish organisations ASENCAS and FEJAR the SGZ will host three days of educational content including two dedicated to consumer protection and one to ESG.
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Massive Gaming, Neowiz, and Kangwon Land Launched ‘Shen Shou Wan fu’ Slot Machine Offline
- ‘Shen Shou Wan fu’ is an online slot game that features three powerful guardians, symbolizing immense wealt
- Now available as physical slot machines in offline casinos through a collaboration with Kangwon Land
- MVG plans to expand distribution with exclusive B2B rights to online channels for slot games
Massive Gaming(“MVG”) announced that it has launched the ‘Shen Shou Wan fu (神兽万福)’ slot game, co-developed with Neowiz, MVG’s parent company, and Kangwon Land, which hosts the only casino in South Korea open to locals. The game is now available in offline venues as slot machines.
‘Shen Shou Wan fu’ is an online slot game featuring motifs of the Golden Dragon (JIN LONG), Phoenix (FENGHUANG), and Haetae (XIEZHI), which symbolize luck and prosperity.
The slot machine debuted in offline casino venues. Key personnel from MVG and Neowiz worked closely on the art resources and software design of ‘Shen Shou Wan fu’, ensuring a seamless integration of creative and technical expertise. Kangwon Land managed the slot machine’s hardware design and manufacturing. This launch marks the first commercialization of software-based products through public-private collaboration in South Korea’s casino market.
After successfully establishing ‘Shen Shou Wan fu’ in the Korean market, MVG is ready to leverage this success for aggressive global sales. Holding exclusive rights to the slot game, MVG plans to expand its presence in the regulated gaming market by targeting key regions with strategic marketing and distribution.
A representative stated, “We are pleased to showcase our slot game in offline casinos with Kangwon Land,” adding plans to introduce diverse content for global markets.
The post Massive Gaming, Neowiz, and Kangwon Land Launched ‘Shen Shou Wan fu’ Slot Machine Offline appeared first on European Gaming Industry News.
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