Turismo
Gaming Innovation Group acquires AskGamblers
The acquired websites generated revenue of EUR 12.9 million in the first nine months of 2022 with an EBITDA of EUR 8.4 million . GiG expects to have an EBITDA margin between 60-70% from the assets going forward. The assets are expected to generate around 53.000 FTDs in 2022.
The acquisition will diversify GiG Media's business further in line with the strategy to create sustainable long-term growth and provide the business with several key strategic assets and multiple revenue opportunities. The acquired websites are strong in markets that currently are non-core markets for GiG Media, therefore expanding our current geographical reach. Further to the revenue growth potential, operational synergies are expected to be realised after the acquisition via the shared use of marketing technologies, business intelligence systems and key functions.
The transaction is structured by way of a Share Purchase Agreement (SPA) with GiG's subsidiary Innovation Labs Ltd. (part of GiG Media) and includes the acquisition of the two companies Catena Publishing Ltd ( Malta ) and Catena Media D.O.O. Beograd (Serbia). These companies currently employ around 90 people.
GiG will finance the initial consideration through a combination of own cash, a revolving credit facility (RCF) and a share issue. Existing shareholders have committed to participate in the share issue and the RCF, securing sufficient financing to complete the transaction at closing.
Morten Hillestad , Director of Business Development in GiG Media, said: " "
Jonas Warrer , Managing Director of GiG Media, said: " "
Catena Media CEO Michael Daly said: " "
Richard Brown , CEO of Gaming Innovation Group commented: " "
For more information, please contact:
Richard Brown , CEO of GiG, richard.brown@gig.com +34 661 599 025
Morten Hillestad , Director of Business Development, GiG Media, morten@gig.com ,+47 99389858
Jonas Warrer , Chief Marketing Officer of GiG, jonas.warrer@gig.com, +45 30788450
This information is information that Gaming Innovation Group Inc. (GiG) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 07:xx CET on 15 December 2022 .
Gaming Innovation Group is a leading iGaming technology company, providing solutions, products and services to iGaming Operators. Founded in 2012, Gaming Innovation Group's vision is 'To be the industry-leading platform, sportsbook and media provider delivering world-class solutions to our iGaming partners and their customers. GiG's mission is to drive sustainable growth and profitability of our partners through product innovation, scalable technology and quality of service. Gaming Innovation Group operates out of Malta and is dual-listed on the Oslo Stock Exchange under the ticker symbol GIG and on Nasdaq Stockholm under the ticker symbol GIGSEK. www.gig.com
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