GIG signs largest affiliate acquisition to date
Gaming Innovation Group Inc. (GIG) and its subsidiary Innovation Labs have agreed to acquire the highly regarded affiliate website Casinotopsonline.com for a consideration of EUR 11.5 million. This is Innovation Labs’ largest acquisition to date and will significantly strengthen its position as a leading affiliate in Europe.
Through development, growth and integration of the Company’s four business areas, Gaming Innovation Group’s vision is to make the iGaming industry an open and connected eco-system for the benefit of all. This acquisition is a part of this strategy.
Expected increase of First-Time-Depositors by around 25,000
The acquisition includes the website Casinotopsonline.com and all related assets. Current yearly revenue run-rate of the acquired assets is approximately EUR 3 million, with an EBIT margin in excess of 90 per cent.
This acquisition further enhances Innovation Labs’ position outside Scandinavia and in regulated markets such as the UK. GIG expect to increase revenues from Casinotopsonline.com by 25 percent short term, with a significant long term potential through including the website in Innovation Labs operations which will generate cost and revenue synergies. Casinotopsonline.com is expected to increase annual referred FTD’s by around 25,000. The products will be integrated into Innovation Labs own proprietary systems.
GIG CEO Reed: “We were facing stiff competition”
The acquisition will be paid by part of the proceeds from the recent bond placement and is subject to a satisfactory due diligence and final board approval. Closing is expected in April 2017.
“The aim of GIG is to build the largest distribution network in iGaming for our clients and suppliers, and as such creating an eco-system for iGaming. This acquisition is our largest in the affiliate space till date and will significantly increase Our traffic driving capability. More so it was done facing stiff competition, at an attractive multiple of four on current revenue run-rate, excluding potential cost and revenue synergies. We are delighted to acquire casinotopsonline.com”, says Robin Reed, CEO of GIG.
Meanwhile, February affiliate acquisition has been completed
“I am very excited about GIG taking this product further, and look forward to help them achieve the goals and vision for this unique project", says Mihail Todorov, CEO of Casinotopsonline.com.
Reference is also made to Gaming Innovation Group Inc.'s (GIG) announcement on 15 February 2017 regarding the acquisition of affiliate network assets from an undisclosed international, affiliate network company. All conditions for completing the transaction have been fulfilled, and closing has taken Place.
About Innovation Labs: GIG's subsidiary Innovation Labs is a fast growing online marketing company for iGaming. It refers paying users to B2B clients primarily on perpetual revenue share agreements. It sources these paying users by obtaining competitive rankings for high-value keywords in search engines through SEO (search engine optimization), generating traffic to owned websites. These websites have guides and quality content for the gaming industry and serves as paths to operators. Innovation Labs also refer paying users through data driven media buying techniques.
About GIG: Gaming Innovation Group Inc. is a fast emerging gambling solutions and interactive entertainment provider. The Company offers cutting-edge cloud-based services and B2B performance marketing, and owns B2C gambling operators offering games from the best-of-breed suppliers across the online sports betting and casino industry. Gaming Innovation Group operates out of Malta and is listed on the Oslo Stock Exchange under the ticker symbol "GIG".
For more information about the Company and our services:
For further information, contact:
Robin Reed, CEO, +356 9999 0382,
ACQUISITIONMonday, July 17, 2017Gaming Innovation Group Inc. (GIG) has through its subsidiary Innovation Labs agreed to acquire all assets in one of the biggest affiliate networks in Scandinavia...[Continue Reading]