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Gaming Realms PLC

Gaming Realms software division inks deal to host Norwegian online casino brand

The firm said the deal would see its B2B software division Alchemy launch the Casonic brand in the Scandinavian market on its gaming platform, Grizzly, before the end of the year

Online casino on smartphone
Gaming Realms sold 70% of its Casino brands to iGaming’s British subsidiary earlier this year

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.

READ: Gaming Realms wants flexibility over Jackpotjoy loan

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.

READ: Gaming Realms commits to licensing with consumer brands sale

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.

--Adds share price--

Quick facts: Gaming Realms PLC

Price: £0.07

Market: AIM
Market Cap: £19.55 m
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