Spiffbet to sell development unit to Million Games

Million Games will acquire STHLM Gaming Sweden and the Rhino Gaming portfolio.

Sweden.- Spiffbet has entered into an agreement to sell its in-house game development unit to the Swedish games studio Million Games. The deal includes STHLM Gaming Sweden, the Rhino Gaming portfolio and associated intellectual property rights for a price of up to SEK3.5m.

Spiffbet said the sale represented its change in focus from game development to running its online casino operations alone due to a lack of resources. It said the division had not made a contribution to its business for the last 12 months and that it had been analysing liquidation.

Under the agreement, Spiffbet will be able to offer the games sold to its players, both on its own platforms and via partners, free of charge for a year after they have been added to Million Games’ platform. It said the sale will have a positive impact on earnings for the third quarter. 

Spiffbet CEO Henrik Svensson said: “For a successful business in game development, investments are required in developing new games and developing sales channels. Given the focus on the casino business, this did not exist. 

“Therefore, it was a fairly simple decision to search for a new owner of the game development business who can develop it further.”

Million Games founder Thomas Nimstad said: “Completing this acquisition and gaining access to STHLM Gaming NG and the games under the Rhino Gaming brand is a great opportunity for Million Games to rapidly expand the game portfolio to strengthen us in a market with high competition and many players.”

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