GiG has completed its acquisition of KaFe Rocks after announcing the move in November. The decision is expected to solidify GiG Media’s position in the North American market, with projections of a 2024 EV/EBITDA growth of 3.6x.
The acquisition was valued at €35m ($38.3m), including a €15m upfront cash payment. In the report from November, the investment is expected to generate a €125-135m contribution to GiG's revenue in 2024.
In an exclusive interview with Trafficology, Warrer expressed his thoughts on the American market and the rationale behind the acquisition. He said: "KaFe Rocks had a good presence in the US. And with this acquisition, we also wanted to grow our presence in the US market. The US market is a very interesting market. One where if we look back at our history, maybe GiG Media has yet to realise the potential of what we could do there."
On the completion of the acquisition, Warrer further commented: "Our goal is to maintain our position as the leading casino affiliate in the industry and to expand further in the North American market.
“We've identified a thriving business led by an exceptionally skilled team. We eagerly anticipate integrating KaFe Rocks into the GiG family, unlocking additional business value to benefit our partners and investors."
This acquisition marks another step in the continued diversification and expansion of GiG Media's business, with its acquisition of AskGamblers also finalised in 2023.
The finalisation of this deal brings the year to a noteworthy close for GiG, with the business also reporting 40% growth in revenue in the second quarter of 2023.
