Spiffbet has offloaded its game development division to Million Games, a Swedish gaming studio, for a hefty 3.5 million Swedish kronor (roughly £257,412/€298,787/$326,889).

Million Games will assume control of STHLM Gaming Sweden, the complete Rhino Gaming collection, and all associated intellectual property.

Spiffbet clarified that the game development unit has not been in the black for the past year and was even being considered for dissolution.

The transaction reflects Spiffbet’s strategic move away from game development towards online casinos. Once the deal is finalized, Spiffbet will concentrate solely on running its online casinos.

The agreement permits Spiffbet to offer players the games included in the deal at no cost for a year after they are added to Million Games’ platform. This includes offering the games on Spiffbet’s own casino platform and through partner enterprises.

Spiffbet anticipates the sale to enhance their third-quarter profits.

Spiffbet CEO Henrik Svensson stated that STHLM Gaming has been a sound investment for the company.

Despite lacking the necessary resources to expand this aspect of the business alongside its online gambling operations, the company decided to sell its game development division.

Svensson stated, “To effectively operate a game development enterprise, it necessitates investment in the creation of new games and the establishment of distribution channels. This has not been accomplished due to the emphasis on the casino business.

“Therefore, locating a new owner for the game development business to further cultivate it was a relatively straightforward decision.”

Thomas Nimstad, founder of Million Games, commented, “Finalizing this acquisition and gaining access to the games under the STHLM Gaming NG and Rhino Gaming labels presents a remarkable opportunity for Million Games to swiftly enlarge its game collection, thereby enhancing our standing in a competitive and player-dense market.”

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