Published
OnlineFinancialMergers & Acquisitions

GiG acquires Sportnco Gaming

Gaming Innovation Group (GiG) has signed a Share Purchase Agreement to acquire iGaming supplier Sportnco Gaming SAS.

neaw deal

Together, GiG and Sportnco will be allowed to operate in 25 markets (in which they are already licensed), with around 55 clients.

The initial offer is €50.8m ($57.2m) with €23.5m paid in new shares in GiG and €27.3m in cash. In addition, GiG will assume Sportnco’s existing debt of €19.2m and there will also be an earn-out of up to €23m based on Sportnco performance in 2022 and 2023.

GiG has also signed a deal with SkyCity Entertainment Group, whereby SkyCity is to invest €25m in GiG via a directed share issue at NOK18.00 ($2.01) per share. The deal is expected to be finalised in February 2022 and is subject to necessary approvals from relevant gaming authorities.

Richard Brown, GiG CEO, said: “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 complementary regulatory profile and high-quality sportsbook that Sportnco have rapidly expands both companies short- and long-term addressable market. We are very excited to combine the two companies' offerings and accelerate our growth potential.”

Hervé Schlosser, CEO and Founder of Sportnco, added: “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.”

Premium+ Connections
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
 
Premium
 
Premium
 
Premium Connections
Consultancy
Executive Profiles
Chicken Ranch Casino
The Responsible Gambling Affiliate Association (RGAA)
Catena Media
Gambling Commission
Follow Us
The most prestigious Awards in the industry are heading to the Philippines! The Global Gaming Awards Asia-Pacific will recognise and reward (as the name suggests) the strongest performers from the Asia-Pacific gaming industry across the previous 12 months.
This year's winners will be announced at a luncheon ceremony on Day 2 of SiGMA Asia, 4th June, in Manila.
The eleventh annual Global Gaming Awards Americas will recognize and reward the gaming industry's strongest performers across the previous 12 months. These are the most prestigious and trusted Awards in the industry and have gained respect amongst industry heavyweights, due to the strict rules and procedures put in place.

Facing Facts: Operator Q3s from across the globe

Gambling Insider compares Q3 2023 results from major gamblin...

Taking Stock: Operators and suppliers across the world

Sticking with our theme of gambling across the globe, Gambli...

CEO Special: Jade Entertainment and Gaming CEO Joe Pisano - down to earth

Jade Entertainment and Gaming CEO Joe Pisano speaks to Gambl...

CEO Special: Betfred CEO Joanne Whittaker - saying it as it is

Betfred CEO Joanne Whittaker joins Gambling Insider Editor T...