Industry News
Gaming Innovation Group divesting its B2C vertical to Betsson Group
Gaming Innovation Group Inc. (GiG) signs a Share Purchase Agreement (SPA) with Betsson Group (Betsson) 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 €31 million, consisting of a €22.3 million cash payment for the acquisition, plus a prepaid platform fee of €8.7 million. GiG will use the proceeds to repay the Company’s SEK300 million 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 €50 million.
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 twelve countries in Europe and Central Asia.
The sale of the B2C vertical is a result of GiG’s strategic review, initiated in November 2019, leading to an evolved strategic direction 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 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.
GiG has, as part of the strategic review, taken a decision to make its technical platform sportsbook agnostic, and partner with other sport book providers to offer the best solutions to its customers. Betsson’s sportsbook solution is intended to be integrated on GiG’s platform-offering. Both GiG and Betsson will gain strategic advantage in having the possibility to sell their respective B2B solutions in an environment without conflict of their own B2C brands.
In order to keep the strategic position for its own proprietary sportsbook, GiG will seek joint ventures or other constellations with partners to release the true asset value of the sportsbook and to secure external long term funding. The ambition is to gradually grow with existing and new long term partners, including the fast growing US market. GiG is one of the few B2B providers present with omni-channel online gambling services in multi-state jurisdictions in the US.
Pontus Lindwall, Chief Executive Officer of Betsson AB comments: “We believe this deal offers a good opportunity for Betsson to consolidate, create synergies and apply our core B2C skills and marketing insights to scale these assets to their true potential. The agreement with GiG further strengthens and expands Betsson’s outreach and growth potential for its proprietary sportsbook and payments platforms in the B2B market.
Betsson has significantly invested in the development of its sportsbook and now delivers a powerful offering. A key strategy is to grow our sportsbook with B2B customers and I am excited to collaborate with GiG as a distribution channel. We share the same passion for sports betting and providing a player environment which is unique, entertaining and safe.”
Richard Brown, Chief Executive Officer of GiG says: “I am very excited about this transaction as it provides multiple upsides to GiG. While putting the Company in a financially sustainable position, it gives us the ability to focus on where we see real long term shareholder value. This transaction serves as a strategic focusing of the Company’s efforts towards the B2B segment. Offering both B2C and B2B services had synergies in the past, however, the current conflicting priorities of the two business areas, and increased complexity in the market, have lessened the potential offering on both fronts and our ability to sign new customers.
I am delighted to retain our brands on the platform and in the process, adding Betsson as a partner as we share the same ambition of responsibility for all stakeholders, safe play for the end user, and an entertaining user experience. I am certain that together with their speciality, focus and strong track record on driving B2C growth, it will be a fruitful partnership. Additionally, the planned integration of Betsson’s sportsbook into our platform offering, not only provides cost saving synergies, it also allows us to offer one of the most well-renowned European sportsbooks to our current and future B2B partners. We are excited to support Betsson’s growth of the brands we have built and now look forward to GiG next chapter as a specialist iGaming B2B provider“.
GiG’s full year 2019 revenues were €123.0 million (€29.4m in Q4 2019) with an EBITDA of €14.1 million (€4.8m Q4 2019), assuming B2C as continued operations. The isolated B2C full year 2019 revenues were €79.0 million (€19.0m in Q4 2019) with a full year 2019 EBITDA of €8.1 million (€4.1m in Q4 2019). The divestment of the B2C vertical will lead to a write-down of the remaining book value of the B2C assets and related goodwill, an impairment will be recognised in the fourth quarter 2019.
With the divestment of the B2C vertical, full year 2020 revenues are expected in the range of €70 – 75 million, with an EBITDA expected in the range of €14 – 17 million, including, for comparison, B2C as continued operations until completion of the transaction.
Expected completion of the transaction is mid April 2020, giving time for the compulsory regulatory approvals from merger control and gaming authorities. GiG is in dialogue with its largest bondholders and will seek consent from its bondholders to extend the repayment of the 2017 – 2020 bond from the maturity date in March 2020 until 22 April 2020. Written resolutions for the two bonds will commence shortly, and GiG has received voting undertakings from investors representing around 53% of the outstanding volume in the 2017 – 2020 bond, and around 46% of the outstanding volume in the 2019 – 2022 bond. As compensation for the extension of repayment date in the 2017- 2020 bond, bondholders in said bond will receive a consent fee of 0.35% of the nominal amount.
GiG invites all interested parties to a press conference with Q&A today, 14 February, at 08:30 CET. Questions can be addressed both in the call and via the web. Please find dial-in details and weblink below.
Weblink (an on-demand version will be available approx. 30 minutes after the call using the same link):
https://tv.streamfabriken.com/gig-press-conference
Participants dial in numbers:
SE: +46 856642651
NO: +47 23500243
UK: +44 3333000804
US: +18558570686
DK: +45 35445577
IT: +39 0236013821
Participants Pin code: 84408716#
Stella EOC acts as financial adviser to GiG in connection with the transaction.
TipRanks, a leading financial research platform with more than 9 million monthly active users, has announced a strategic sponsorship with Grandmaster Hikaru Nakamura, a 5-time US Chess Champion who is currently ranked 2nd in the world. Powered by a new set of AI tools, the partnership is designed to help investors make better, data-driven decisions through the combination of TipRanks’ cutting-edge tools and Nakamura’s strategic mindset.
As part of the partnership, Nakamura will create and manage a Stream Portfolio on TipRanks. Viewers and fans of Hikaru will be able to track his investment research in real time on his widely followed video channels and social media — plus share ideas in the stream chat to help shape the portfolio’s holdings. Working with TipRanks’ award-winning platform, Nakamura will showcase how he evaluates opportunities, while emphasizing that all content is for educational purposes only and does not constitute investment advice.
Nakamura’s dominance in chess stems from his ability to absorb vast amounts of information, analyze multiple outcomes and make decisive moves under pressure—skills that closely mirror successful investing.
“TipRanks offers a wide variety of insights on thousands of stocks and equities, helping me to think strategically about all of my investments. Just like in chess, beating the market depends on making wise, fully informed decisions. Harnessing data to think several moves ahead is second nature to me,” said Nakamura.
“While other investing websites might sponsor more popular spectator sports such as soccer, our partnership with a chess champion is pitch perfect. We are tailor-made for investors who seek to act strategically, just like Hikaru does,” said Uri Gruenbaum, Founder and CEO of TipRanks.
The post TipRanks to Become Official Sponsor of 5-Time U.S. Chess Champion Hikaru Nakamura appeared first on European Gaming Industry News.
PENN Entertainment has officially opened the doors of its new Hollywood Casino Joliet on Monday, August 11.
The $185 million state-of-the-art casino replaces the former riverboat property that operated on the shores of the Des Plaines River since 1992.
Legislators and area dignitaries, Illinois Gaming Board officials, Chicago Bears executives and NFL legend and Joliet native Tom Thayer joined the PENN team members for the ribbon-cutting ceremony. Hollywood Casino Joliet then opened to the public at 4:00 p.m. and welcomed guests to experience approximately 1000 of the newest slot machines, 43 table games, a retail ESPN BET sportsbook, upscale national and Chicagoland celebrity-led dining and, above all, a premier guest experience.
“We would like to officially welcome players and guests to the all-new Hollywood Casino Joliet. After approximately 20 months of construction, we are thrilled to open the doors to this land-based entertainment destination. We are proud of our 30-year history in Will County and are committed to continuing our investment in the community by creating new jobs, providing important tax revenue, and serving as a new attraction to bring even more visitors to the area,” said Jay Snowden, CEO and President of PENN Entertainment.
“This opening marks an exciting new era of entertainment in Joliet. We’re grateful for the support from the city of Joliet, the Illinois Gaming Board, and our business and community partners who contributed to the successful development of this new property. We look forward to delivering an elevated experience with world class dining, entertainment, and gaming options for patrons across the region,” said Todd George, Executive Vice President of Operations for PENN.
The roughly 189,000 square foot entertainment destination employs approximately 600 team members and generated around 450 construction jobs. Open seven days a week and 24 hours a day, the fun and excitement will continue 365 days a year.
The post PENN Entertainment Celebrates Grand Opening of Hollywood Casino Joliet appeared first on European Gaming Industry News.
Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news and new partnerships. Read on and get updated.
Latest News
SA Gaming has announced that its game portfolio and Remote Gaming Server have officially obtained Gaming Laboratories International certifications in Brazil. This milestone underscores SA Gaming’s commitment to delivering premium gaming experiences, with a particular focus on the Brazilian market. The regulated Brazilian online gaming market, which launched on January 1, 2025, is projected to become the largest in Latin America. Under the new framework, only licensed operators are legally permitted to offer online gaming and betting services.
The National Indian Gaming Commission announced Gross Gaming Revenues of $43.9B for fiscal year 2024. This historic figure reflects a $2.0 billion increase over FY 2023, representing an overall growth of 4.6% across the Indian gaming industry. The GGR figure is calculated from independently audited financial statements from 532 independently audited gaming operations owned by 243 federally recognised tribes across 29 states. Two NIGC regions, Oklahoma City and Washington, D.C., reported double-digit growth over the previous fiscal year.
The Michigan Gaming Control Board has issued cease-and-desist letters to six unlicensed online gambling platforms attempting to target Michigan residents without state authorisation. The action underscores the MGCB’s relentless, ongoing efforts to shut down illegal gambling operations and protect Michigan consumers from financial risk, identity theft and unfair play. The targeted sites—Crypto Slots, NitroBetting, NewVegas, Las Vegas USA Casino, Grand Rush Casino and Slotgard Casino—were found to be operating in violation of Michigan laws that require licensure for internet gaming and sports betting. This enforcement action is part of the MGCB’s larger crackdown on illegal online gambling platforms.
Partnerships
Table Trac Inc announced that a new Nevada casino partner is installing the CasinoTrac CMS system, and a long-time customer is upgrading from its classic system to the latest comprehensive technology stack featuring enhanced capabilities for Loyalty, Bonusing, & Operations. Barton’s Club 93 Casino Hotel, under new ownership, GLM Gaming, as part of a significant property remodel and renovation is upgrading the slot system to CasinoTrac’s high-speed, Secure, Unified and Stable PlayerLINQ network, which drives player engagement through the programmatic, custom SlotSUITE platform while turbocharging efficiency and time on device with SelfPAY. Border Inn Casino will deploy CasinoTrac’s high-speed, Secure, Unified and Stable PlayerLINQ network, NV Tech Standard 3-compliant accounting and CTLoyalty for Patron & Club Management, powered by CasinoTrac’s bonusing, auto-tiering and reflexive rewards functions.
Caesars Entertainment Inc announced it is the first in the industry to launch IGT’s newest installment of its beloved slot title, Kitty Glitter Grand. The game is now live across Caesars Palace Online Casino, Horseshoe Online Casino, and Caesars Sportsbook & Casino in New Jersey, Pennsylvania, Michigan, West Virginia, and Ontario. It’s also available at Caesars Rewards destinations in Atlantic City, including Caesars and Harrah’s, with Tropicana set to join the lineup soon, subject to final regulatory approval. This debut marks IGT’s first simultaneous exclusive launch of a game both online and in casinos in the US. As a result, Caesars is currently the only place where fans of the Kitty Glitter franchise can experience this latest installment, whether in person or online.
The post Gaming Americas Weekly Roundup – August 4-10 appeared first on European Gaming Industry News.
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