Adventure Box has Entered into an LOI to Acquire 100% of RWB, Expanding its Presence in the Asian iGaming Market
STOCKHOLM, Feb. 18, 2025 (GLOBE NEWSWIRE) -- Adventure Box Technology AB (STO: ADVBOX) (“Adventure Box” or “the Company”) today announced that it has entered into a non-binding Letter of Intent (“LOI”) to purchase 100% of the outstanding shares of RWB Smart Solutions Inc. (“RWB”), a prominent Asia-based casino solutions provider. This strategic acquisition is designed to bolster Adventure Box’s global footprint, drive operational efficiencies, and fuel breakthrough innovation across its portfolio.
Under the terms of the agreement, Adventure Box will assume full ownership of RWB, including all associated products, assets, and intellectual property. This transaction is subject to approval at an upcoming Extraordinary General Meeting and customary due diligence and regulatory clearances.
The anticipated transaction structure considers a cash payment of $18,000,000 for 100% of RWB. It is expected that this transaction will close in early Q2, 2025. Adventure Box is reviewing various financing proposals for this transaction, and as such, this transaction remains subjected to securing financing.
RWB’s unaudited management reports reflect a 2024 revenue of approximately $20,000,000 USD and $10,000,000 of EBITDA. RWB has also processed almost $1Billion USD in turnover. All financial figures will be confirmed by third-party auditors prior to deal closing.
Harnessing Pioneering iGaming Expertise
RWB has earned a reputation for its innovative approach to online casino gaming, having achieved an impressive 300% growth in Gross Gaming Revenue (GGR) over the past five years. Central to this success is RWB’s proprietary software platform and its robust partnerships with leading casino providers. By integrating these cutting-edge solutions, Adventure Box is well positioned to elevate its offerings and capture further market share in Asia.
Transformative Growth and Operational Synergies
Following the completion of the acquisition, Adventure Box will integrate RWB’s operations into its existing global framework. This integration is expected to drive significant synergies and cost savings in product development and customer service, further accelerating the Company’s growth and enhancing value for customers and partners.
“This acquisition marks an exciting new chapter for both companies,” said Duncan McIntyre, CEO of Adventure Box of. “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.”
“Joining the Adventure Box family unlocks tremendous potential for RWB,” commented James Chung, Strategic Advisor of RWB. “We look forward to collaborating closely with the Adventure Box team to accelerate innovation and address the evolving demands of the iGaming market.”
For more information please contact:
Duncan McIntyre
Adventure Box Technology AB (publ)
+1 (778) 996-3596
About Adventure Box Technology AB (publ)
Adventure Box Technology offers KoGaMa, an online game creation platform that provides user-friendly tools for creating and sharing unique gaming experiences. With its innovative multiplayer editor and thriving user marketplace, KoGaMa empowers users to collaborate, create and customise content in a dynamic social metaverse. The company's world-leading streaming technology is patent-protected. Founded in Stockholm in 2014, the company now also has staff in Seville, Copenhagen and Madrid. Adventure Box is traded on Nasdaq First North Growth Market under the ticker ADVBOX and ISIN code SE0012955276. Berg Securities is the Company's Certified Adviser and can be reached via e-mail and telephone 0
