Betsson Acquires Gaming Innovation Group’s B2C Business
In the latest news, Betsson is now the new owner of Gaming Innovation Group’s (giG) B2C (Business to Consumer) operations. Currently, GiG’s B2C segment comprises casino brands like Rizk, Thrills, Kaboo and Guts casino. These brands will now come under the lineage of Betsson.
Since GiG is listed in Oslo and Stockholm Stock exchange but many of the named brands operate under the license granted by UK, Malta, Germany and Sweden. As per sources, Rizk casino will soon be launched and licensed under the lineage of Croatia and Spain as well.
Betsson casino has acquired the GiG branch – Zecure Gaming Limited where the business activities, end-to-end technology, assets and licenses, relevant to the B2C components and aforementioned brands and provide its unique experience through them. Naturally, they will now be tweaked as per the Betsson standard of user experience.
Via this acquisition, Betsson will claim stake over the global operations of the market and also explore opportunities with brand associations with diverse stakeholders in Spain and Croatia.
Betsson is also planning on incepting sportsbook and novel payment platforms with GiG, which will allow the former to extend its qualitative technologies to the existing GiG customers and also integrate the existing parameters of GiG into markets where it holds a strong presence. This creates a synergy which Betsson is most commonly known for.
With this acquisition, Betsson now confers a platform service agreement with GiG for at least 2.5 years where it will pay a total fee of €15 million in two years where it will control the acquired brands via the GiG B2B interface.
This fee is based on the revenue earned this agreement where €8.7 million prepaid and the remaining upon completion based on the total purchase of the acquired GiG business. This deal will be based upon the customary regulations and planned to be finalised by mid-April 2020.
Pontus Lindwall, CEO of Betsson AB and Group President states:
“At Betsson, we have a vision of outgrowing our competitors via organic means and acquisitions and believe that we are at the opportune moment for this consolidation.”
Via these acquisitions, we can create market synergies and also enhance our B2C segment by reaching out to a highly expansive clientele. This agreement will further strengthen our market presence and improve the growth capability in our core B2B market. This will especially be a strategic move to boost our growth as one of the largest casino operators in Europe.