Betsson Competes Buy Out of GIG Assets
by Glenn Baird - April 16, 2020
Betsson has secured a 33m Euros deal with Gaming Innovation Group’s for their B2C vertical, Zecure Gaming Limited. The deal was announced some time ago but was only confirmed today after it was formally approved by antitrust regulators.
The deal will see Betsson take on assets, business activities, operations, front-end and middleware technology and gaming licences attributable to Zecure’s B2C activities.
The deal was announced in February and will see Betsson take over control of brands, such as Rizk, Guts, Kaboo and Thrills.
According to Betsson, the acquisition will strengthen their reach within parts of Europe, such as Spain and Croatia.
In a media release it was commented: “Betsson’s ambition is to create shareholder value by outgrowing the online gambling market. This transaction further strengthens Betsson’s presence in some of its key strategic markets and opens for further opportunities with new brands in Croatia and Spain.
“Betsson expects the acquisition to increase scale in the business and to unleash synergies, being both revenue and earnings accretive from the second quarter 2020 onwards.”
Confirming the close of the divestment it was said: “The sale of the B2C vertical is a result of GiG’s strategic review to reduce complexity and improve efficiency. By divesting the B2C vertical, GiG will free up resources, enabling full dedication on driving and growing its B2B business, securing stable and sustainable earnings and profit margins.
“GiG sees a large and sustainable addressable market for its Media and platform business as the regulation of the igaming industry continues and is well positioned with the omni-channel platform offering to capitalise on the continued digital transformation of the worldwide gambling market.”