Gaming Innovation Group completes acquisition of AskGamblers

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Jan 31, 2023, 07:08 ET

ST JULIANS, Malta, Jan. 31, 2023 /PRNewswire/ -- Gaming Innovation Group Inc. ("GiG") signed an agreement to acquire the casino affiliate websites Askgamblers.com, Johnslots.com, Newcasinos.com and several smaller domains from Catena Media Plc., ref. announcement from GiG on 15 December 2022. GiG has today completed the acquisition and will consolidate these assets as from today.

GiG Media is eagerly anticipating the operational and commercial opportunities of the well regarded affiliate website AskGamblers, now that the transaction has closed. Management is focused on elevating the performance of this asset and has a clear strategy in place to implement GiG Media's innovative technical SEO and marketing technology, along with Askgamblers' extensive knowledge. GiG aims to drive substantial growth and maximize profitability through renewed focus on the Askgamblers domain, with the goal of increasing revenue and EBITDA in the near future.

Richard Brown, CEO of GiG said: "We are thrilled to add another top casino affiliate site to our portfolio, and believe it holds immense growth potential. The acquisition also broadens our geographical footprint and increases revenue diversity both geographically and client wise, reducing the overall operational risk."

The transaction is carried out through a share purchase by Innovation Labs Limited (GiG Subsidiary) of the totality of the issued shares of Catena Publishing Limited and Catena Media doo Beograd. The consideration (on a cash free and debt free basis) is €45,000,000, of which €20,000,000 is paid today with the remaining balance to be paid in two installments on 31 January 2024 (€10 million) and 31 January 2025 (€15 million).

For further information, please contact:

Richard Brown, CEO GiG, [email protected], +34 661599025

About Gaming Innovation Group (GiG)

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

SOURCE Gaming Innovation Group