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Gaming Innovation Group acquires Sportnco
Combined, GiG and Sportnco will be licensed in 25 markets, currently with around 55 clients, as Sportnco’s geographical presence is highly complementary to GiG’s current offering. Sportnco’s tier 1 sportsbook product is strong, and the acquisition is expected to create attractive commercial, operational, and technological synergies, as well as enable cost savings and accelerated growth.
Sportnco is estimating revenues for 2021 in excess of €9 million with an EBITDA around €5 million.
The initial consideration is €50.8 million, whereof €23.5 million will be paid in new shares in GiG and €27.3 million in cash. In addition, GiG will assume existing debt in Sportnco of €19.2 million and there will be an earn-out of up to €23.0 million based on the Sportnco performance in 2022 and 2023.
GiG has also entered into an agreement with SkyCity Entertainment Group Limited (“SkyCity”), whereby SkyCity will, subject to final completion of the acquisition, invest €25 million in GiG through a directed share issue at NOK 18.00 per share, that will finance the main part of the cash consideration.
Closing is expected in February 2022 and is subject to necessary approvals from relevant gaming authorities, shareholder approval to increase the authorised shares in GiG, bondholder approval on the rollover of loans in Sportnco, and final approval by GiG's Board of Directors.
Richard Brown, CEO of GiG said: “We are tremendously excited to welcome Sportnco into Gaming Innovation Group product offering. The transaction accelerates our long-term vision to become a global leader in the provision of platform, sportsbook and media services to the iGaming industry. The hugely complimentary regulatory profile and high-quality sportsbook that Sportnco have, rapidly expands both companies short- and long-term addressable market. Herve and the team at Sportnco have built a fantastic company over the last decade, creating a great product and working in a range of competitive regulated markets and have a proven track record of success. We are very excited to combine the two companies' offerings and accelerate our growth potential.”
Hervé Schlosser, CEO and founder of Sportnco, said “GIG and Sportnco really have the perfect match both in terms of product and geographical areas of business but also as they share the same corporate values. I am excited by the sales potential of our combined offerings. Sportnco sportsbook will add strength and attractiveness to the offer of GIG and our mutual PAM solutions will enable us to cover European and American regulated markets for all our existing and future clients.”
SkyCity's CEO, Michael Ahearne said "we are excited that SkyCity is expanding its strategic partnership with the GiG team. GiG is an established online operator who we have come to know well since partnering in mid-2019 to launch the SkyCity Online Casino. The partnership has provided SkyCity with access to a complementary and high-growth gaming category and has enabled us to pursue an omnichannel strategy. The combined GiG/SportNCo business will be licensed or certified in over 20 jurisdictions, including growth markets such as the US, Canada and Latin America. We are delighted to support GiG in the financing of the transaction, becoming a major shareholder and helping GiG execute on its strategic vision through representation on the Board. Importantly, the equity investment builds our digital capability and strengthens our strategic alignment with GiG."
Richard Brown adds: “we are also delighted to bring on SkyCity as a new shareholder, a company held in high-regard within the land-based segment of the industry,. Both companies' outlook and focus around the ever-evolving digitalisation of gambling is expected to enable strategic gains, with GiG benefiting from decades of retail experience to finetune our offering and SkyCity benefiting from first-hand digital experience that GiG holds, and new opportunities brought about by the transaction with SportNCo.”
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Salsa Technology teams up with Mancala Gaming
Salsa Technology struck a new content agreement with online game provider Mancala Gaming, in a deal that will significantly enhance its Salsa Gator solution.
Founded in 2019, Mancala Gaming has grown to become a premier slots provider with a dedicated in-house game studio. Mancala Gaming’s renowned slot lineup, including popular hits like Buffalo Goes Wild, Caishen Gold: Dragon Awakes, Mighty Egypt Riches, and Buccaneer Royale, is set to join Salsa’s casino offering.
"Mancala Gaming’s creative content will be a fantastic addition to our Salsa Gator offering,” said Eliane Nunes, Salsa Technology’s Head of Marketing & Sales. “Our strong position within LatAm means these games will be given the perfect platform to be enjoyed by players within the region.”
With this partnership, Mancala Gaming joins an elite group of top providers, including Spribe, PG Soft, High5, and over 90 other game studios. Mancala’s content is now seamlessly accessible to multiple LatAm operators thanks to the Salsa Gator integration.
“I'm delighted to announce an exciting chapter for Mancala Gaming with our strategic partnership with Salsa Technology,” said Emiliano Sanchez, Chief Communications Officer. “As the Chief Commercial Officer, I see this collaboration as a pivotal step in our journey, particularly in the vibrant Latam region where our games are gaining immense popularity. With Salsa Technology bringing a wealth of experience and expertise, honed over years of successful ventures in this market, we are poised for unprecedented growth. This partnership enhances our iGaming offerings and solidifies our commitment to providing an exceptional gaming experience for operators and players alike. Our teams are already hard at work, and I am personally thrilled about the prospect of setting new standards in Latam's dynamic gaming landscape.”
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Yggdrasil and Peter & Sons release Animafia
Peter & Sons, in collaboration with the renowned iGaming developer Yggdrasil, presents their freshest feature-packed release, Animafia, inviting users to explore the hidden depths of the city zoo.
In this adventurous title, animals start a daring mission to break free from their enclosures, offering enticing cash prizes via a huge selection of features and mechanics.
An interesting mix of features, encompassing power wilds, a collect feature, and a free spins bonus with roaming wilds, power-ups, and retriggers, await players. Customers can get anywhere from six to twenty free spins during the free spins feature. Random features like multipliers, arbitrary wild symbols, or additional free spins are introduced with every spin. The game also introduces power wilds during gameplay, comprising Expanding Wilds, Random Wilds, and Monster Wilds.
The CGO at Yggdrasil, Mark McGinley stated: "Expect some feathers to be stirred with the debut of this amazing new game. Once again, Peter & Sons proves their unwavering ability to impress, delivering yet another title featuring stunning graphics and captivating tools and mechanics."
The Founder & Commercial Director at Peter & Sons, Yann Bautista mentioned:"Our team is overjoyed to unveil this discontented crew for what promises to be an absolutely memorable heist. We anticipate that players will thoroughly relish this game brimming with features, taking full advantage of its free spins and power wilds."
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Yggdrasil and Peter & Sons release Animafia
In this adventurous title, animals start a daring mission to break free from their enclosures, offering enticing cash prizes via a huge selection of features and mechanics.
An interesting mix of features, encompassing power wilds, a collect feature, and a free spins bonus with roaming wilds, power-ups, and retriggers, await players. Customers can get anywhere from six to twenty free spins during the free spins feature. Random features like multipliers, arbitrary wild symbols, or additional free spins are introduced with every spin. The game also introduces power wilds during gameplay, comprising Expanding Wilds, Random Wilds, and Monster Wilds.
The CGO at Yggdrasil, Mark McGinley stated: "Expect some feathers to be stirred with the debut of this amazing new game. Once again, Peter & Sons proves their unwavering ability to impress, delivering yet another title featuring stunning graphics and captivating tools and mechanics."
The Founder & Commercial Director at Peter & Sons, Yann Bautista mentioned:"Our team is overjoyed to unveil this discontented crew for what promises to be an absolutely memorable heist. We anticipate that players will thoroughly relish this game brimming with features, taking full advantage of its free spins and power wilds."
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Pragmatic Play expands partnership with bet365
Pragmatic Play, a leading content supplier to the iGaming industry, further expanded its partnership with global giant bet365 into two key European territories.
Pragmatic Play has already taken an array of its leading Slot titles live in Spain, with Spanish customers now able to enjoy titles such as Gates of Olympus, Sugar Rush, Big Bass Bonanza and Sweet Bonanza.
In addition to the expansion in Spain, Pragmatic Play have just rolled out their product portfolio in Sweden with bet365.
Players in the Nordic country are able to enjoy a plethora of Slot titles, as well as Pragmatic Play’s engaging live games, including Mega Wheel and Boom City. In addition, its award-winning bingo solution will soon go live in the market.
This marks the latest expansion between the two powerhouse brands, following agreements in both the UK and Ontario.
Irina Cornides, Chief Operating Officer at Pragmatic Play, said: “Expanding our presence in Spain and Sweden not only speaks volumes about the strength of Pragmatic Play’s partnership with bet365, one of the world’s leading gaming brands, but it also highlights the increasing demand for our premium Slots and Live Casino content. This is an exciting time for both companies as we continue to grow in key regulated markets.”
A bet365 spokesperson said:?“We are proud to extend our partnership with Pragmatic Play into the Spanish market, and now Sweden. Its portfolio of award-winning and innovative content perfectly fits bet365’s product offering and Pragmatic Play is a welcome addition for our customers in both Spain and Sweden.”
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