Adventure Box Technology

Adventure Box Technology AB operates as a multifaceted gaming entity, initially focused on user-generated content and recently pivoting towards the iGaming sector through an aggressive acquisition strategy. Founded in Stockholm, Sweden, in 2014, the company's original mission was to democratize game development. Its core proprietary asset is a patented, low-bandwidth streaming technology for voxel graphics, which formed the basis of its social cloud gaming platforms. A significant milestone was the late 2022 acquisition of Multiverse ApS, the company behind the established user-generated game platform KoGaMa, which was launched in 2011. This purchase integrated KoGaMa's existing user base of approximately 750,000 monthly active players and its revenue streams, which include advertising and in-platform purchases, providing Adventure Box with a significant leap in technological development and market presence.

The company has undergone a strategic transformation, repositioning itself as a publicly traded gaming venture fund. This new direction was solidified with the acquisition of Lion Gaming Group Inc., a Canadian provider of iGaming technology platforms, in a deal completed in early 2025. This transaction was substantial, resulting in Lion Gaming's shareholders holding approximately 94.88% of the shares in the newly merged entity. Following this, Duncan McIntyre, the former CEO of Lion Gaming, was appointed as the new CEO of Adventure Box to spearhead the M&A-focused strategy. The business model has now expanded to include Lion Gaming's B2B white-label services, which provide a proprietary sportsbook, casino studio, and risk management system to over 80 brands. Adventure Box is actively pursuing further acquisitions to build a portfolio of cash-flow positive companies with unique platforms and strong management, with several letters of intent announced to acquire firms in the iGaming and digital marketing space.

While originally listed on the Nasdaq First North Growth Market, the company announced its delisting as of August 5, 2025, and is exploring options such as remaining private or a future relisting. This shift follows a period of intense corporate restructuring and a clear strategic pivot from a singular platform operator to a diversified holding company in the global gaming market. The company's vision is to leverage synergies between its user-generated content platform (KoGaMa) and its expanding iGaming assets to drive revenue and establish a significant global footprint. The acquisition of Lion Gaming and other planned targets are intended to provide established revenue streams, marketing expertise, and experienced management to fuel future growth.

Keywords: iGaming, user-generated games, game creation platform, KoGaMa, Lion Gaming Group, voxel streaming, metaverse, social gaming, gaming venture fund, M&A gaming, online casino, sportsbook platform, B2B gaming, white-label gaming, game development, 3D games, online gaming, blockchain gaming, Project Quantum, player acquisition