Memery Crystal has acted for Gaming Realms on its acquisition of Quick Think Media (QTM) for a total consideration of approximately £2.2m. The firm has also acted for Gaming Realms on the placing of 11,476,190 new ordinary shares on AIM, which has raised £2.4m.
Gaming Realms is an AIM-listed online gaming business focused on the development of a new generation of social bingo and slot-machine gaming concepts.
QTM is a specialist online gaming marketing agency with particular expertise in online bingo and casino products. The acquisition of QTM supports Gaming Realm’s strategy to establish itself within the bingo and casino segment of the social gaming market, as well as to launch real-money bingo and casino games in the UK regulated market.
The proceeds from the AIM fundraising will be used to satisfy the cash element of the QTM acquisition, with the balance being used for additional working capital.
The Memery Crystal team included corporate partner Lesley Gregory and corporate senior associate Kieran Stone.