Sega Sammy Completes Acquisition of Stakelogic
Japan-based Sega Sammy Holdings has finalized its acquisition of Stakelogic BV, a Netherlands-headquartered B2B provider of iGaming content. The company announced the completion of the transaction on April 28, confirming that Stakelogic has officially become a subsidiary following the satisfaction of all conditions required for the deal to proceed.
LISTEN TO THIS ARTICLE:The acquisition, first outlined in July 2024, was part of Sega Sammy's broader strategy to expand its presence in the global online gaming market. The total transaction value was approximately €125 million (US$142.2 million).
Related: Nevada Gaming Commission Approves Sega Sammy Acquisition of iGaming Company GANThis figure reflected the enterprise value of Stakelogic, as well as adjustments based on interest-bearing debt and working capital considerations. Sega Sammy further disclosed that advisory fees related to the transaction amounted to approximately $4.6 million.
Despite the strategic rationale for the acquisition, the process encountered legal challenges earlier in April. Sega Sammy had attempted to halt the deal, citing alleged violations by Stakelogic of gambling regulations in Japan and Turkey.
The Japanese firm contended that these breaches constituted a failure to meet certain preconditions outlined in the sale and purchase agreement. Additionally, Sega Sammy claimed that Stakelogic had breached key obligations prior to completion, leading the company to seek rescission of the agreement.
These arguments were ultimately rejected by the court. The ruling emphasized the specific language of the contract and highlighted the limited circumstances under which rescission could be invoked. The court found that the terms of the agreement did not permit Sega Sammy to withdraw based on the cited grounds, thereby requiring the company to move forward with the acquisition as originally planned.
More Business News
Sammy Sega Expands Online Gaming Reach
Stakelogic supplies a wide array of online casino games and live dealer content to regulated operators around the world. The company has established a strong presence in the European iGaming market and has been expanding into other jurisdictions. By acquiring Stakelogic, Sega Sammy is seeking to strengthen its foothold in the global online gaming sector as it diversifies beyond its traditional pachinko and arcade game businesses.
Sega Sammy Holdings is also involved in land-based casino investments. The company maintains a 45% stake in the Paradise City casino resort in Incheon, South Korea.
In February, the firm announced plans to restructure its holdings by transferring its interest in Paradise City to its wholly owned subsidiary, Sega Sammy Creation Inc. This transfer is scheduled for June and aligns with the broader consolidation of Sega Sammy's gaming assets.
In addition to the Stakelogic acquisition, Sega Sammy is also acquiring GAN Ltd, a digital gaming solutions provider. Both acquisitions are slated to be placed under Sega Sammy Creation, consolidating the group's gaming content and technology assets.
RELATED TOPICS: Business
Latest News
Most Read
Must Read
Interviews
Sweepstakes Casinos: Thriving in an Ever-Changing Industry – Interview with Attorney Stephen C. Piepgrass
Feb 17, 2025
Interviews
Review this New Post
Leave a Comment
User Comments
Comments for Sega Sammy Completes Acquisition of Stakelogic