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Merkur Group has entered into an agreement to acquire White Hat Studios, a US-focused slots supplier, in a transaction that advances the German gaming company’s presence in regulated American iGaming markets. Completion is contingent on regulatory approvals.
The transaction covers White Hat Studios’ game development business only. The White Hat Gaming platform and its white label operations sit outside the deal and will continue under their existing ownership structure.
A fast riser in the US market
White Hat Studios launched in 2021 and has since built a strong footing in the American iGaming sector, becoming the first supplier to bring online slots to all seven states that regulate the vertical.
Its catalog spans slots, jackpot slots and RNG table games alongside licensed branded titles, and includes the House of Brands collection, the 7s Fire Blitz series and the Jackpot Royale progressive jackpot network. The company lists more than 150 titles in its portfolio.
Merkur said its resources and industry experience would give White Hat Studios room to build on its slot development work and grow its omni-channel offering across land-based and digital channels alike.
“White Hat Studios has delivered impressive growth since its launch. We look forward to working with the team to continue the U.S. success story and, in turn, Merkur’s expansion in regulated iGaming,” said Lars Felderhoff, Chairman of the Merkur Management Board.
Second US deal in quick succession
The White Hat Studios purchase arrives shortly after Merkur’s acquisition of Gaming Arts, a game and machine supplier licensed in Nevada. Taken together, the two deals give Merkur a combined lineup of online-first and omni-channel content aimed at operating partners across the US.
“Joining Merkur Group is an exciting moment for everyone associated with White Hat Studios and, fundamentally, it is the best possible move to realise our ambitions for future growth and product innovation,” said Andy Whitworth, President of White Hat Studios.
“Working alongside the hugely experienced Merkur team will open new possibilities for us across iGaming and enhance our ability to develop a world-class omni-channel proposition that will benefit both operators and players,” Whitworth added.
“Having made early inroads into the online space in Europe via our Blueprint acquisition in 2012, I am delighted by this latest development and am confident that White Hat Studios will be a great addition to our group,” said Michael Gauselmann, Chairman of the Merkur Supervisory Board.
Oakvale Capital advised White Hat Studios on the transaction. CMS acted as legal counsel to White Hat Studios, while Wiggin advised Merkur.