iGaming technology platform provider Lion Gaming Group announced on Wednesday the completion of the acquisition of 1Click Games, a move set to expand its current suite of online gaming offerings. The financial terms of the deal were not disclosed.
Founded in 2014, 1Click Games boasts a comprehensive product line offering white-label and turnkey online casino and sportsbook software, land-based casino solutions, lottery software, and game aggregator solutions.
The acquisition brings to Lion Gaming Group a workforce with expertise in engineering, software development, UI/UX design, payments, compliance, and customer service. According to a press release, the expansion will allow the provider to “continue innovating and deliver top-quality products and services to its customers.”
Duncan McIntyre, President & CEO of Lion Gaming Group, commented: “As Lion Gaming Group continues to explore the ways we can enhance our product offering, we’re very excited to add 1Click Games to our portfolio of companies. This acquisition instantly brings more than 40 online casino brands directly into our portfolio and further adds to our talented team.”
Meanwhile, Ted Yew, Chief Financial Officer at Lion Gaming Group, highlighted: “The cost synergies between the merged entities will increase our profit margins an additional 15%+, and our positive cash flow is expected to grow well into the future. Positive cash flow is a rare feat in the gaming industry, as more than 90% of companies competing in this space generate negative earnings and cash flows. Plus, this acquisition is perfectly aligned to support our go-public initiatives.”
For his part, Maksims Terehovics, CEO at 1Click Games, said: “We are excited that our company has joined the Lion Gaming Group family! This partnership brings together the strengths of both companies and creates a unique advantage in our global expansion efforts. We can offer a range of premier products to both regular and crypto businesses through the combination of technologies and products. It allows us to create a truly unique proposition for the market.”
“This partnership allows us to achieve even greater success in the gaming industry. We look forward to working with the Lion Gaming Group team to bring our customers the fullest possible gaming experience,” the CEO concluded.