Who Owns Pragmatic Play?

Origins of Pragmatic Play

Although the Pragmatic Play brand emerged in 2015, the business itself dates back further. The company evolved from Topgame Technology, a gaming provider active since 2007, primarily serving unregulated markets. The rebranding marked a strategic pivot toward mobile-first design, regulated operations, and European licensing.

Early titles like Hot Safari and Queen of Gold showcased the studio’s potential, but few predicted just how quickly it would ascend to the top tier of global suppliers.

Ownership and Corporate Structure

Since 2016, Pragmatic Play has operated under a deliberately opaque ownership structure, typical of privately held iGaming businesses. One of the key entities in this structure is Veridian (Gibraltar) Limited, often cited as the company’s legal and financial holding. However, this does not confirm ultimate beneficial ownership.

Public records and industry investigations suggest that the company is ultimately controlled by private investors, possibly linked to business groups in Eastern Europe and Israel. Despite repeated claims that IBID Group acquired the company in 2016, no verified documentation supports this narrative. Pragmatic Play is not publicly traded, and its shareholder composition remains undisclosed.

In recent years, the emergence of ARRISE, an affiliated brand responsible for parts of Pragmatic Play’s technology, HR, and operations, points to a deeper internal restructuring designed to streamline functions under multiple legal entities.

Leadership

Julian Jarvis has been involved with Pragmatic Play since 2016, initially serving as Chief Legal Officer. He formally assumed the role of Chief Executive Officer in early 2020, following several years in senior leadership within the company. Under his leadership, Pragmatic Play has evolved into a global multi-vertical supplier, securing licenses in more than 20 regulated markets and expanding its presence across Latin America, Europe, and beyond.

Office Locations

Despite being registered in Gibraltar, Pragmatic Play operates through a distributed office network reflecting its global ambitions:

• Malta (Sliema) – Commercial and compliance headquarters

• Gibraltar – Legal and corporate oversight

• Bucharest, Romania – Live casino production

• Hyderabad, India – R&D and platform development

• Buenos Aires, Argentina – LATAM business operations

• London, UK – Regulatory affairs and strategic planning

• Sofia, Bulgaria – Creative and support services

This decentralized setup allows the company to serve a diverse range of markets while remaining agile and locally responsive.