Bluberi Gaming Recommended For Nevada Licensing As Expansion Accelerates
The Nevada Gaming Control Board has recommended Las Vegas-based slot developer Bluberi Gaming for licensing in the state, marking a milestone moment for the Canadian-founded company.
The Nevada Gaming Commission will decide on Sept. 25, potentially allowing Bluberi to deepen its presence in one of the world's most competitive gaming markets.
The path to this point has been anything but straightforward. Bluberi filed for bankruptcy in 2016, restructured, and was acquired by Catalyst Capital Group, a Toronto private-equity firm, in 2019.
Since then, the company has been on a vigorous turnaround trajectory under CEO Andrew Burke, who joined in early 2020.
Rapid Expansion Across North America
What was once a small-scale operation has become a fast-growing manufacturer with an expanding catalogue of titles.
In 2019, Bluberi held just 66 licenses and 1,500 units in the field. Today, it has 194 licenses, 12,000 units across North America, and pending approvals in several additional jurisdictions.
Revenue has quadrupled over the last three years, reflecting product quality and strategic expansion.
The company’s growth has been particularly evident in 2024. Bluberi raised $55 million in financing to fuel the rollout of Shark’s Lock and Devil’s Lock: All-In while providing returns to Catalyst.
It expanded into 29 new jurisdictions, including Indiana, Louisiana, Oregon, Ontario, Rhode Island, Virginia, and West Virginia.
Looking ahead, Bluberi is eyeing further entry into Ohio, Iowa, New Jersey, Mississippi, Illinois, and British Columbia, alongside tribal markets in Louisiana and racinos in New Mexico.
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Nevada As The Growth Hub
Nevada's key focus is on elevating its existing vision.
In April 2024, Bluberi launched an 80,000-square-foot corporate headquarters in Las Vegas to support its operations and manufacturing.
Nevada has increased its employee base from 21 in a small office four years ago to over 90 in the new facility and another 20 in its Reno office.
Innovation And Product Development
Bluberi’s approach has focused on fewer, higher-quality titles rather than flooding the market.
In 2020, the team produced four games, each performing above expectations. By 2024, that output had grown to seven titles, with plans to double to 14 this year.
The company has steadily added development studios to support the expansion, boasting six globally, including two in Canada.
"Bluberi's revenue has quadrupled over the last three years..."
Product innovation has also been a driver. Last year, Bluberi launched the Beacon Elite and Beacon+ platforms, marking its entry into the premium slot segment.
With eye-catching design, extensive R&D, and new content such as Devil’s Lock All-In and Honey Bomb, the line has made an impression on casino floors.
A Blend Of Creativity And Growth
Bluberi’s blend of Canadian and American creative teams has proven to be a strength, enabling the company to balance market-tested mechanics with risk-taking design.
About 70% of its revenue comes from direct sales, with recurring revenue from games making up the rest. This split has provided stability and growth.
Suppose the Nevada Gaming Commission approves later this month. In that case, Bluberi will solidify its presence in its adopted home state and reinforce its trajectory as one of the gaming industry’s most rapidly ascending challengers.
