Benzinga | Dec 1, 2021 05:35AM EST

Scientific Games Acquires European Games Developer ELK Studios For Undisclosed Sum

Scientific Games Corp (NASDAQ:SGMS) has acquired ELK Studios, an European games developer, for an undisclosed sum. ELK Studios is a Stockholm-based developer producing games with mathematics, artwork, and a mobile-first focus.

* ELK's hit releases include Wild Toro II, Katmandu, and Cygnus, and its games feature the X-iter tool allowing players to jump into the action by selecting special predefined modes.

* Scientific Games noted the acquisition strengthens its original iGaming content offering and production capabilities.

* The studio will continue to work independently to create new titles while benefiting from Scientific Games' resources, including commercial scale, market expansion, support in the U.S. and Canada, game IP, and data analytics tools.

* Scientific games held $830 million in cash and equivalents of continuing operations as of September 30, 2021.

* Price Action: SGMS shares closed lower by 0.05% at $63.92 on Tuesday.