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Gaming Innovation Group issues convertible loan to two institutional investors
Gaming Innovation Group (GiG) have had a successful turnaround over the last year. Coming into 2021 the business is seeing momentum with additional opportunities to deliver long term shareholder value. To take advantage of those opportunities GiG has decided to issue a subordinated convertible loan of EUR 8.5 million to two Nordic investment funds Formue Nord A/S & Symmetry Invest A/S.
GiG sees a very strong market development for its target customer base as regulation and digitalisation of the gambling industry drives demand and will use the proceeds from the convertible loan to expedite revenue generating activities and enhance future growth. Using a strict capital allocation framework the funds will be used across a range of projects such as the continuing development of its omni-channel offering across casino and sportsbook, increase the long term speed to market facilitating the sales pipeline and move toward more aggressive growth in Paid Media along with the potential to act in the M&A space within Media Publishing department.
Richard Brown, CEO of GiG, explains: Over the last 12 months GiG has simplified our business around our core B2B offering with significant growth in revenue and EBITDA for the first 9 month of 2020. As we are seeing continued expansion opportunities on all our 3 business segments we wanted to strengthen our cash position to be able to take advantage of those opportunities. We are happy that GiG is now in a place where we can attract capital from institutional investors on competitive terms to accelerate the business further.
Rasmus Viggers, CIO of Formue Nord commented: We have been following GiG for a while and have been impressed by the progress in the business over the last year. We are happy that we are able to support GiG with a flexible finance solution that is setting GiG up for further growth in the years ahead.
The term of the loan is 30 months and the loan can be converted at a share price of NOK 15, a 23% premium to the last closing price on Oslo Børs. The interest is 8% per annum. The loan is subordinated to the Company’s SEK 400 million bond, and payment of interest and any repayment on the convertible loan are not allowed before all obligations under the bond is repaid in full. The bond has maturity on 28 June 2022, and Nordic Trustee has approved the convertible loan structure as per the bond terms.
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BetConstruct, a leading company in iGaming technology and services, is heading to Sigma Americas in Sao Paulo, Brazil from April 23-25, 2024.
Sigma Americas is a major event focusing on iGaming with 10,000 delegations and more than 200 professional speakers. This event serves as an exceptional platform for participants to present their innovative offerings, engage with fellow industry leaders, and establish new business relationships.
BetConstruct is poised to introduce its cutting-edge products and solutions to the growing Brazilian market at the upcoming event. As a premier provider of online iGaming solutions, the company will showcase its comprehensive range of services to all attendees, offering diverse solutions tailored to meet their specific needs and preferences.
Moreover, BetConstruct will demonstrate its newest Spettacolare offer by Mr. First, which is a fleeting opportunity to maximise user profits and explore the potential of FTN.
Attendees of the event can find BetConstruct in the Transamerica Expo Center at Stand O60, where they will have the opportunity to gain a comprehensive understanding of BetConstruct’s products and solutions.
Expanse Studios is proud to announce its strategic partnership with Geek Spins, a leading platform dedicated to providing comprehensive and reliable information about online gambling. This collaboration marks a significant milestone in Expanse Studios’ commitment to enhancing the gaming experience for players worldwide. By joining forces with this renowned media platform, Expanse Studios aims to revolutionize the way players engage with online casinos and slot machines, offering unparalleled access to the latest and most reliable gaming content.
About Geek Spins
Geek Spins was founded in 2018 by a passionate group of enthusiasts with a singular goal: to provide players with accurate and up-to-date information about online gambling. Since its inception, Geek Spins has expanded its team significantly and has become a trusted source for players seeking the best gaming experiences. With over 500 reviews of top online casinos, 1500 slot machines, 2000 bonuses, and content from over 100 providers and payment systems, Geek Spins continues to set the standard for excellence in the online gambling industry.
Expanse Studios’ Vision
At Expanse Studios, we believe in pushing the boundaries of innovation to deliver exceptional gaming experiences to players worldwide. Our collaboration with Geek Spins aligns with our vision of providing players with access to the latest and most reliable gaming content. By leveraging their extensive database and expertise, we aim to empower players to make informed decisions about their online gambling activities and elevate the overall gaming experience.
Synergy and Added Value
The partnership between Expanse Studios and Geek Spins brings together two industry leaders with a shared commitment to excellence. By combining Expanse Studios’ cutting-edge technology and game development expertise with Geek Spins’ comprehensive database and industry knowledge, we are able to deliver unparalleled value to players. Together, we will work tirelessly to enhance the online gambling experience, providing players with access to the latest games, reviews, and bonuses.
Why It Matters
This collaboration is significant for both Expanse Studios and Geek Spins, as it represents a shared commitment to innovation and excellence in the online gambling industry. By joining forces, we have the opportunity to reach a wider audience of players and provide them with the best possible gaming experiences. This partnership also underscores our dedication to transparency, reliability, and player satisfaction, ensuring that players have access to the information they need to make informed decisions about their online gambling activities.
Damjan Stamenkovic, CEO of Expanse Studios, commented on the collaboration, saying, “We are thrilled to partner with Geek Spins to enhance the online gambling experience for players worldwide. This collaboration represents a significant step forward for both companies and underscores our commitment to delivering exceptional gaming content to our players.”
The post Strategic Deal: Expanse Studios Seals Media Partnership with Geek Spins appeared first on European Gaming Industry News.
GoldenRace, global provider of award-winning Virtual Sports and betting solutions, has recently obtained a certification for its highly acclaimed Virtual Sports and Games in the Dutch market.
GoldenRace successfully navigated the stringent regulatory landscape of the Netherlands, and now will be providing its impressive betting products into the Online Dutch market, which will be an important advancement in our operational expansion.
The Netherlands betting scene is on the cusp of a substantial growth phase and with GoldenRace’s latest certification, we introduce to the Dutch market a range of highly popular games tailored to desktop and mobile, in both scheduled and on-demand modes.
Among the offer, players will enjoy our most-played Virtual Football line-up – including Football Single, Leagues, World Cup and Euro Champions-, adrenaline-pumping 3×3 Basketball and MMA and top-notch races as Horse Racing, Greyhound Racing and Grand Prix Indianapolis 60. Last but not least, our Number Games, such as Spin2Win. All ready to captivate Dutch players.
The post GoldenRace is now certified in the Netherlands appeared first on European Gaming Industry News.
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