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Collyer Bristow advises Strive Gaming in investment round

Corporate law specialist, Collyer Bristow, has advised Strive Gaming, the US-focused player account management (PAM) platform, in securing new investment from a number of major gambling industry stakeholders, including OpenBet.

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Published 25 March 2024

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Corporate law specialist, Collyer Bristow, has advised Strive Gaming, the US-focused player account management (PAM) platform, in securing new investment from a number of major gambling industry stakeholders, including OpenBet.

The funding round was led by sports betting supplier OpenBet, which in return has received a significant minority stake in the Strive Gaming business. Swedish family-owned fund Knutsson Holdings AB also invested, as did specialist gaming fund Astralis Capital Management. Both were added to the investment consortium alongside Betsson, which was an initial seed investor in Strive Gaming.

Following the investment round Strive Gaming’s proprietary PAM technology will now be integrated into the OpenBet sports betting solution, alongside regulatory compliance features from Neccton.

The deal marks OpenBet’s first strategic foray into iGaming – or online casino – since splitting off from Light & Wonder (formerly Scientific Games) in 2022. OpenBet expects the investment to provide increased opportunities for both organisations across North America, including in tribal gaming markets. OpenBet CEO Jordan Levin said the investment would unlock “major new opportunities” for OpenBet as a global industry supplier.

Strive Gaming will continue to operate independently, with Max Meltzer continuing as CEO and Damian Xuereb remaining as President and CCO.

The deal was led by Collyer Bristow Corporate Partner, Ragavan Arunachalam, along with Associates Christian Davison and Luke Naylor.

Max Meltzer, CEO at Strive Gaming , commented:
“Ragavan and the Collyer Bristow team worked tirelessly through the deal showing great expertise, flexibility and professionalism in moving this forward through to completion.”

Ragavan Arunachalam, Corporate Partner at Collyer Bristow, commented:
“Having been privileged to be there at the start of their journey, Collyer Bristow was delighted to support this transformational next step in Strive’s growth. Seeing how much Strive has already achieved we are excited at where this great opportunity will take the business, and we look forward to continuing to support them as their strategic growth continues.”

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Collyer Bristow advises Strive Gaming in investment round

Corporate law specialist, Collyer Bristow, has advised Strive Gaming, the US-focused player account management (PAM) platform, in securing new investment from a number of major gambling industry stakeholders, including OpenBet.

Published 25 March 2024

Key Contacts

Corporate law specialist, Collyer Bristow, has advised Strive Gaming, the US-focused player account management (PAM) platform, in securing new investment from a number of major gambling industry stakeholders, including OpenBet.

The funding round was led by sports betting supplier OpenBet, which in return has received a significant minority stake in the Strive Gaming business. Swedish family-owned fund Knutsson Holdings AB also invested, as did specialist gaming fund Astralis Capital Management. Both were added to the investment consortium alongside Betsson, which was an initial seed investor in Strive Gaming.

Following the investment round Strive Gaming’s proprietary PAM technology will now be integrated into the OpenBet sports betting solution, alongside regulatory compliance features from Neccton.

The deal marks OpenBet’s first strategic foray into iGaming – or online casino – since splitting off from Light & Wonder (formerly Scientific Games) in 2022. OpenBet expects the investment to provide increased opportunities for both organisations across North America, including in tribal gaming markets. OpenBet CEO Jordan Levin said the investment would unlock “major new opportunities” for OpenBet as a global industry supplier.

Strive Gaming will continue to operate independently, with Max Meltzer continuing as CEO and Damian Xuereb remaining as President and CCO.

The deal was led by Collyer Bristow Corporate Partner, Ragavan Arunachalam, along with Associates Christian Davison and Luke Naylor.

Max Meltzer, CEO at Strive Gaming , commented:
“Ragavan and the Collyer Bristow team worked tirelessly through the deal showing great expertise, flexibility and professionalism in moving this forward through to completion.”

Ragavan Arunachalam, Corporate Partner at Collyer Bristow, commented:
“Having been privileged to be there at the start of their journey, Collyer Bristow was delighted to support this transformational next step in Strive’s growth. Seeing how much Strive has already achieved we are excited at where this great opportunity will take the business, and we look forward to continuing to support them as their strategic growth continues.”

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