Franks Farm

About Franks Farm

Andreas Braun, owner of four arcades in Wiesbaden, filed an objection and constitutional complaint against the tax rate in April last year according to local reporting. He argued that the tax rise had provided a ‘strangling’ effect to business and that it consumed operator profits.

According to a high court ruling from over a decade ago, the tax rise cannot be allowed to rise to the point of ‘consuming livelihoods’. 

“If the tax burden alone makes it impossible to establish the occupation of slot machine operators as the economic basis of one’s livelihood within the municipality,” the ruling said. 

How to play Franks Farm

Rather than building each slot from scratch, the studio appears to lean on recognizable frameworks it can dress in new themes. 3 Aztec Spells reads as another application of that model, not a departure from it.

Aztec is one of the most heavily worked themes in the world of online gambling, and Spinomenal is far from alone in returning to it. The setting offers the gold, temple, and idol imagery that has long anchored adventure-styled reel design.

What stands out is how often Spinomenal itself revisits the territory. A single provider maintaining multiple Aztec-flavored slots suggests the theme performs reliably enough across operator networks to justify repeated entries.

What is Franks Farm?

Cirsa’s implied pro forma value, before synergies, corresponds to an multiple of approximately 6x its expected 2026 EV/EBITDA which will be between €800 million and €820 million, according to the operator’s most recent earnings.

According to a joint press release, the combined company would hold “undisputed leadership positions” in both Italy and Spain, with the group set to hold a duel listing on the Milan and Spanish stock exchanges.

The group is expected to have an addressable market of up to €34 billion when combining all its available markets, including Portugal, Mexico and Colombia.