Swedish slots developer Lady Luck Games has signed an exclusive letter of intent to acquire London-based studio Revolver Gaming.
The purchase price consists of a combination of cash and newly issued shares, with the cash part of this agreement amounting to €750,000. The shares portion of the purchase price will be covered through the issuance of approximately 4,200,000 new shares in Lady Luck at a stock price of SEK3.00.
Lady Luck currently has 44,905,472 shares, with the issue set out through the deal amounting to approximately 8.5% of its total outstanding shares after they are issued.
Revolver Gaming develops its games in HTML5 and distributes content through its own RGS platform.
