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Betting software group Spiffbet has proposed merging with Vrtcl Gaming Group, which serves as the operator of Metal Casino.
The move would be the first foray into the operator space for Spiffbet, which is based in Sweden. The proposed deal would see Metal Casino shareholders sell one share of stock for six shares of Spiffbet. The end result would be a 30% share in Vtcrl, work roughly SEK10.6 million.
Spiffbet is keen to diversify their interests, as they look to create future growth. A deal would see Metal Casino adopting the Spiffbet platform, and the developer says that they'd also create custom games for the site.
Explaining the reasoning for the offer Spiffbet CEO Henrik Svensson said, "This is a strategically important and major step for Spiffbet as we enter the operator market and can also participate in the consolidation within the operator segment. Metal Casino will be a new leg of Spiffbet's business, which we hope can grow significantly over time.
"It will be a positive addition for everyone who works at Spiffbet, to be able to develop and customise products in direct collaboration with an operator within the same group of companies and to gain access to industry professionals who have direct contact with our end users."
Currently Vrtcl's shareholders are approving of the deal, with 51.2% of the shareholders in support of the deal.