Aha World To Carry Elk Studios Content

AHA WORLD TO CARRY ELK STUDIOS CONTENT

29th November, 2016 at 12:31:41
Source: http://www.azonlinecasinos.com

And in acquisition talks with Hispanic online sports betting operation.

Swedish gaming operator ahaWorld will integrate a new portfolio of gaming content from ELK Studios following a deal announced earlier this week.

The games will be integrated to ahaWorld's Ahabingo.com and Ahacasino.com operations.

"ELK Studios games portfolio is perhaps the most interesting portfolio of next-generation slot games in the casino market," Krister Bergström, president of Aha World, said.

In related news, ahaWorld AB has signed a letter of intent with regard to the acquisition of an unidentified Latin American-focused online sports betting operator.

The initial phase involves the acquisition of a 51% majority share in the business followed by further options at 12 months and 24 months.

AhaWorld will finance the deal through the issue of new shares equivalent to a 25.5% dilution in the company. The consideration at each acquisition phase will be valued at 6 times EBIT in the sportsbetting business which generated net sales of Euro 2,4 million and EBIT of around Euro 1,15 million over the past 12 months.

"With their respective expertise and organization, we have the opportunity to bring new verticals to each other which will effectively increase joint revenue," Bergström said.

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