Gaming Innovation Group has signed a share purchase agreement Betsson Group for the divestment of GiG’s B2C assets, which include the operator brands Rizk, Guts, Kaboo and Thrills.
Betsson will, through this agreement, become a long-term partner of GiG, generating revenues to GiG’s Platform Services. On the day of closing, Betsson will pay €31m, consisting of a €22.3m cash payment for the acquisition, plus a prepaid platform fee of €8.7m. GiG will use the proceeds to repay the company’s SEK300m 2017-2020 bond.
Betsson commits to keep the brands operational on GiG’s platform for a minimum of 30 months. For the first 24 months, Betsson will pay a premium platform fee based on NGR generated. Based on the expected platform fees, the total value of the transaction is estimated at approximately €50m.
Betsson, listed at Nasdaq Stockholm, is one of the most dominant European companies in online gambling with a long and strong track record of brand building, both organically and via acquisitions. It offers online casino, proprietary sportsbook and other online games in a multi-brand strategy via gaming licences in 12 countries in Europe and Central Asia.