The €45m ($47.9m) acquisition was first announced in mid-December, with GiG noting at the time that the acquired websites generated €12.9m in revenue and €8.4m in EBITDA for the first nine months of 2022, with GiG expecting to have an EBITDA margin between 60-70% from the assets going forward.
GiG will now consolidate the assets, saying that it is eagerly anticipating the commercial opportunities of the “well-regarded affiliate website AskGamblers” now that the transaction has closed.
GiG added that its management is now focused on elevating the performance of AskGamblers, with a clear strategy in place to implement GiG Media’s technical SEO and marketing technology, alongside Askgamblers’ extensive knowledge.
The group also explained that it plans to drive substantial growth and maximise profitability through a renewed focus on the Askgamblers domain, with the aim of increasing revenue and EBITDA in the near future.
The transaction was carried out through a share purchase by GiG subsidiary Innovation Labs Limited of the totality of the issued shares of Catena Publishing Limited and Catena Media doo Beograd.
A total of €20m of the €45m consideration has been paid, with the remaining balance to be paid in two instalments; €10m on 31 January 2024 and €15m on 31 January 2025.
“We are thrilled to add another top casino affiliate site to our portfolio, and believe it holds immense growth potential,” said GiG CEO Richard Brown.
“The acquisition also broadens our geographical footprint and increases revenue diversity both geographically and client wise, reducing the overall operational risk.”
