Lion Gaming Group Completes Purchase of 1Click Games

On January 11, 2023, Lion Gaming Group, a leading developer of white label online casinos and sportsbook solutions based in Surrey, British Columbia, Canada, publicly announced that it has completed the purchase of iGaming and betting software development company based in the UK, 1Click Games.

Main purpose of the purchase:

The main reason for this purchase was Lion Gaming Group’s goal to expand its portfolio with more new iGaming content.

But, that’s not all; with this acquisition, the company will also gain highly talented and experienced employees who are experts in software development, engineering, UI/UX design, compliance, payments and customer support. Furthermore, these new talents will help Lion Gaming to carry on and improve its outstanding innovations and will give it the opportunity to provide customers with high quality products and services.

In this regard, Ted Yew, Chief Financial Officer of Lion Gaming Group, said: ““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.”

And Mr. Duncan McIntyre, President and Chief Executive Officer of Lion Gaming Group, added: “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.”

On the other hand, 1Click Games through this acquisition will add and use Lion Gaming’s latest, custom technology and expand its reach into crypto and more regular businesses.

In this regard, Maksims Terehovics, Chief Executive Officer 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.”

About:

Headquartered in Canada, Lion Gaming Group Inc. is an iGaming developer that creates fiat and blockchain technology for online casinos and sportsbooks worldwide. It was founded and officially launched in 2020.

Headquartered in Tortola, British Virgin Islands, UK, 1Click Games is a leading European provider of premium white-label solutions for iGaming startups and established operators around the world. It was founded and officially launched in 2013.