Spiffbet divests the game development business to Million Games AB, which is a Swedish game studio. Million Games was founded by Thomas Nimstad who has been active in the gaming industry since 2004 and has built several generations of casino platforms where he has been involved in projects such as Maria Casino, Vera&John, Solid Gaming and Golden Hero.

The transaction covers all of Spiffbet’s game development operations and takes place through Million Games acquiring all shares in STHLM Gaming Sweden AB (“STHLM Gaming”), where all game titles and other intellectual property rights attributable to the gaming operations are collected. The Rhino Gaming brand is also transferred in the transaction. However, Spiffbet’s business of offering partner casino services will remain even if the Rhino Gaming brand is included in the sale.

The purchase price in the transaction depends on the outcome of the transferred business and can amount to a maximum of SEK 3.5 million. The purchase has a positive impact on earnings from the third quarter through payment of the initial purchase price and savings effects.

The game development business has not contributed to the business for a year now and has been the subject of a liquidation analysis. Furthermore, Spiffbet’s focus has shifted from game development to the casino business (including the partner business) and with decreasing focus, investments in developing the business have also not been sufficient to continue running the business successfully. After the sale, Spiffbet will be fully focused on its own casinos and offering casino services to partners. Spiffbet will be able to use the games covered by the transaction to players at its own casinos or through the partner business free of charge for one year from the time they have been adapted to the Million Games platform.

“Completing this acquisition and gaining access to STHLMGAMING and the games under the Rhino Gaming brand is a great opportunity for Million Games to rapidly expand the game portfolio to strengthen us in a market with high competition and many players. ” comments Thomas Nimstad.

“For Spiffbet, this marks the end of Spiffbet being a player in game development, but at the same time also a finding that Spiffbet has today changed into a casino player. The acquisition of STHLM Gaming was good when it was done and has given us good returns. However, we have not had the resources to develop this alongside the casino operations. For a successful business in game development, investments are required in developing new games and developing sales channels. Given the focus on the casino business, this did not exist. Therefore, it was a fairly simple decision to search for a new owner of the game development business who can develop it further,” says Henrik Svensson.

Million Games AB is an iGaming studio that primarily works with third parties to develop innovative games on its own RGS platform. With its extensive and unique experience of all sides of the industry, Million Games focuses on developing niche games within the categories of video slots, table games and crash games for different customers and markets.