In February Betsson Group announced their acquisition of Gaming Innovation Group’s (GiG) business to consumer market.
Betsson is a large online gaming company that specialises in investing and managing companies in the industry. Its influence extends across Europe and it offers gaming options via multiple brands.
GiG is an iGaming technology company.
Thanks to its acquisition of GiG, Betsson now adds their brands, including Guts, Kaboo, Rizk, and Thrills to its portfolio. These online casinos are popular with many players and it is clear why Betsson was happy to take them on.
Consolidation and expansion
The acquisition involves all of GiG’s assets, business activities, operations, technology, and licences linked to its B2C activities being transferred to Betsson.
Betsson also aim to integrate their sportsbook and payment platforms with the GiG technologies. Both parties involved hope that this acquisition will reap benefits for all!
GiG previously stated their aim to improve efficiency and streamline their business operations. So, with Betsson now responsible for heir B2C operations, they can focus on their B2B operations.
Through this deal, Betsson hopes to reinforce and expand within different gaming markets. The GiG brands already operate under licences from Malta, UK, Sweden, and Germany, with plans to launch Rizk under Spanish and Croatian licences too.
Betsson will be taking over Zecure- GiG’s subsidiary responsible for its B2C activities.
The initial sum Betsson paid to acquire GiG’s assets was €22.3 million. This is 2.9 times more than Zecure’s 2019 earnings before interest and tax.
The acquisition means Betsson is part of a platform service agreement with GiG for at least two and a half years, where it will host the brands named above.
Betsson will pay then pay a fee based on revenues.
Parties expect to finalise the deal in April 2020.
Pontus Lindwall, CEO of Betsson AB and Group President said this:
“Betsson’s ambition is to outgrow the market in the long term, organically and through acquisitions. This acquisition confirms that Betsson is a driver of the consolidation of the market.
“We believe this deal offers a good opportunity for Betsson to consolidate, at good value, where we can create synergies and apply our core B2C skills and marketing insights to scale these assets to their true potential. The agreement with GiG further strengthens and expands Betsson’s outreach and growth potential for its proprietary sportsbook and payments platforms in the B2B market.
“As one of the largest European operators, Betsson is well positioned to continue building on its strategic position”