Royal Wins Corporation (CSE:SKLL) said it has completed a purchase and sale agreement to acquire Antics Gaming LLC of Las Vegas, Nevada.
The company said the acquisition is a significant building block in its global development strategy, marking its first direct foray into the United States. The addition of Antics and its popular Winning With Words game, further establishes the company's ongoing working relationship with Samsung, Apple and Skillz Inc, it added.
Under the terms of the agreement, Royal Wins will acquire current and future assets of games developed by Antics including the popular hyper-casual game Winning with Words for cash consideration of US$75,786.98 and 298,048 common shares of the company priced at C$0.21/share and totaling US$50,000.
READ: Royal Wins signs MOU to acquire Las Vegas skill-based games developer Antics Gaming
Antics, established in 2019, is an innovative software development gaming company that holds the sole license to develop and operate Winning With Words, a skill-based word game, currently offered on the Skillz platform.
Winning With Words offers a completely new challenge and set of skills for competitive players to master. A true challenge for the fast and "wordious", players have less than 30 seconds to arrange nine letters on to a grid to make as many three-word combinations as possible. It sounds simple, but with multipliers for rare letters and words that can pay twice - like pat and tap - players can earn huge scores.
Winning with Words metrics outperform traditional casual games. In 2020, Winning With Words achieved an outstanding cash conversion rate of 10%. Paying users averaged 6 games per Daily Active User (DAU) with average total Revenue per Paying DAU at 42 cents.
Royal Wins is an innovative digital games studio pioneering skill game wagering and betting on mobile casual games. Established in 2014, we design, develop, and operate real money-wagering skill games, to disrupt and dominate the online gaming space such that all players of legal age can play and win life-changing jackpots and prizes on their skill instead of only on chance and odds.
The company's primary innovation and intellectual property centres around solving big data problems around skill gaming mechanics, algorithms pertaining to balancing cash jackpots, game difficulty modules, and maintenance of player payout percentages.
Royal Wins has released a suite of pure skill mobile games on Android and iOS mobile/tablet platforms via their skill gaming app, the Kash Karnival.
Contact the author at jon.hopkins@proactiveinvestors.com