Adventure Box to acquire RWB as part of Asian expansion efforts
A non-binding letter of intent will see Adventure Box purchase 100% of RWB’s outstanding shares for full ownership.
Key points:
– Adventure Box will purchase 100% of RWB’s outstanding shares for $18m
– The move follows Adventure Box’s entry into the gaming market in July 2024
Adventure Box has entered a non-binding letter of intent to purchase 100% of the outstanding shares of Asia-based casino solutions provider RWB. The purchase would see Adventure Box acquire full ownership of RWB, including its associated products, assets and intellectual property.
The purchase has been valued at $18m for 100% of the provider and is scheduled to close in early Q2. Based on an unaudited management report, RWB made $20m in revenue and $10m in EBITDA for 2024, with turnover of close to $1bn.
On the acquisition, Adventure Box CEO Duncan McIntyre said: “This acquisition marks an exciting new chapter for both companies. By integrating RWB’s innovative solutions and deep market expertise, we are uniquely positioned to expand our presence in Asia and deliver enhanced value to our customers and partners.
“Moving forward, RWB and their existing brands will be our flagship B2C assets for Asia. Our approach will be to pursue regulated Asian markets.”
RWB Strategic Advisor James Chung added: “Joining the Adventure Box family unlocks tremendous potential for RWB. We look forward to collaborating closely with the Adventure Box team to accelerate innovation and address the evolving demands of the iGaming market.”
In June 2024, Adventure Box entered the gambling market with its acquisition of Lion Gaming for SEK 475m ($45m). Adventure Box was originally a computer games company, known for its KoGaMa platform where users could create, share and play various 3D games.
The acquisition was described by Adventure Box Technologies Chairman of the Board Mads Jørgensen as an opportunity for synergy, adding: “This acquisition lays the foundation for a global player powered by power, bleeding edge technologies that will change the game for operators, suppliers and most importantly, players.”
Gambling Insider delivers the latest industry news, in-depth features, and operator reviews that you can trust. Our team combines rigorous editorial standards with decades of specialized expertise to ensure accuracy and fairness. We are committed to delivering clear, impartial, and dependable coverage across the global gambling sector.
