Gaming Realms PLC’s (LON:GMR) business-to-business (B2B) software division, Alchemy Bet, has secured a deal to host Casonic, a new online casino brand from Norwegian gaming company River iGaming.
The online gaming firm said the deal, which included a revenue share arrangement, would see Alchemy launch the Casonic brand in the Scandinavian market on its gaming platform, Grizzly, before the end of the year.
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The deal is with River Game Operations, a subsidiary of River iGaming, and marks an extension of Gaming Realms’ relationship with the Norwegian firm after 70% of its Real Money Casino brands were purchased by iGaming’s British subsidiary River UK Casino earlier in the year for around £23.1mln.
Following the sale, Gaming Realms now has a 30% stake in River UK.
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Patrick Southon, chief executive of Gaming Realms, said the deal marked a “significant milestone” for the group as it was the first time its platform would service a market outside of the UK.
In mid-morning trading, Gaming Realms shares were steady around 5.3p.
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