Scientific Games Advances Original iGaming Content Offering and Production Capabilities with Acquisition of ELK Studios
Scientific Games (NASDAQ: SGMS) has acquired ELK Studios, enhancing its iGaming content and production capabilities. The Stockholm-based developer is known for its innovative games such as Wild Toro II. This acquisition aligns with Scientific Games' strategy to expand its digital presence in North America, leveraging ELK's successful titles within its OpenGaming ecosystem. CEO Barry Cottle emphasized the synergies between both companies, which aim to deliver engaging gaming experiences across the U.S. and Canada, while ELK will retain its operational independence.
- Acquisition of ELK Studios strengthens iGaming content portfolio.
- ELK's popular games can enhance Scientific Games' offerings in the U.S. and Canada.
- Synergies from the integration of ELK with Scientific Games' OpenGaming ecosystem.
- None.
LAS VEGAS, Dec. 1, 2021 /PRNewswire/ -- Scientific Games Corporation (NASDAQ: SGMS) ("Scientific Games" or the "Company") has strengthened its original iGaming content offering and production capabilities with the acquisition of ELK Studios, a leading and innovative European games developer. This highly synergistic acquisition of a talented digital content studio marks another important step as the Company rapidly executes its vision to become the leading cross-platform global game company.
ELK Studios is a Stockholm-based developer with a long history of producing carefully crafted games with ground-breaking mathematics, superb artwork and a mobile-first focus. The highly profitable digital studio's hit releases include Wild Toro II, Katmandu and Cygnus, and its games also feature the innovative X-iter™ tool allowing players to jump into the action through a selection of special predefined modes.
The acquisition is the latest in a string of important, targeted content-focused deals as the Company moves quickly to invest in and grow its presence in digital markets. By adding ELK Studios to its in-house games portfolio, the Company has further bolstered its capacity for creating innovative, engaging iGaming content and will be looking to take ELK's top-ranked content into the U.S. and Canadian markets while further enhancing its position as a leading content provider in the U.K. and Europe.
"Acquiring ELK Studios demonstrates once again our commitment to make targeted, value enhancing investments designed to advance our cross-platform content capabilities," said Barry Cottle, President and CEO of Scientific Games. "The ELK Studios team is packed with talent and enhances our existing in-house teams and capabilities. The highly synergistic combination of their top-ranked games and our leading OpenGaming ecosystem offers exciting distribution opportunities in the U.S. and Canada. I am thrilled to welcome them to our team."
ELK Studios is already live with a wide range of operators through the market leading OpenGaming™ ecosystem, with its titles proving highly popular with key operators across the U.K. and Europe. The studio will continue to work independently to create thrilling new titles, while also benefiting from Scientific Games' comprehensive range of resources including commercial scale, market expansion, support in U.S. and Canada, game IP and data analytics tools.
Dylan Slaney, CEO iGaming at Scientific Games, said, "We have had a strategic partnership with ELK Studios for a number of years and its games have performed brilliantly across the OpenGaming platform. ELK is one of the most innovative, and top-ranked studios in iGaming. Their passion and enthusiasm for producing games of stand-out quality is infectious. They will play a pivotal role in helping us continue to provide players with even more immersive and engaging experiences."
Filip Säfbeck at ELK Studios said, "This deal is the fruit of many years of hard work by a team that is fully committed to crafting high-quality online gaming experiences. We see it as the perfect time to join the Scientific Games team, given that our ambitions to grow through innovation and into the U.S. and Canada are in total alignment. We have experienced first-hand through our OpenGaming partnership that Scientific Games can take our games to the next level. This acquisition offers us a solid base to bring to market a wide range of exciting new slots more smoothly than ever to online casino partners across the globe."
The latest deal by Scientific Games follows recent high-profile iGaming acquisitions of slot developer Lightning Box and premium live casino solutions provider Authentic Gaming.
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About Scientific Games
Scientific Games Corporation (NASDAQ: SGMS) is a world leader in entertainment offering dynamic games, systems and services for casino, lottery, social gaming, online gaming and sports betting. Scientific Games offers the gaming industry's broadest and most integrated portfolio of game content, advanced systems, cutting-edge platforms and professional services. Committed to responsible gaming, Scientific Games delivers what customers and players value most: trusted security, engaging entertainment content, operating efficiencies and innovative technology. For more information, please visit scientificgames.com.
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Forward-Looking Statements
In this press release, Scientific Games makes "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as "will," "may," and "should." These statements are based upon management's current expectations, assumptions and estimates and are not guarantees of timing, future results or performance. Therefore, you should not rely on any of these forward-looking statements as predictions of future events. Actual results may differ materially from those contemplated in these statements due to a variety of risks, uncertainties and other factors, including those factors described in our filings with the Securities and Exchange Commission (the "SEC"), including Scientific Games' current reports on Form 8-K, quarterly reports on Form 10-Q and its latest annual report on Form 10-K filed with the SEC on March 1, 2021 (including under the headings "Forward-Looking Statements" and "Risk Factors"). Forward-looking statements speak only as of the date they are made and, except for Scientific Games' ongoing obligations under the U.S. federal securities laws, Scientific Games undertakes no obligation to publicly update any forward-looking statements whether as a result of new information, future events or otherwise.
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