Hilco Streambank to take bids for EBet brands
Seven gambling related brand assets have been listed as available for purchase.
Hilco Streambank has announced that it will be taking bids for seven EBet iGaming, online casino and sports betting brands, with a public auction taking place via Zoom on 1 August.
The seven EBet brands in question include BetTarget, Dansk 777, Griffon Casino, Generation VIP, Karamba, Hopa and Scratch2Cash. As of March 2024, the brands generated a combined last twelve months (LTM) revenue of $21m.
Bids will be received by the company on 30 July and as listed as part of the foreclosure sale, the buyer may be entitled to rights including domain names, trademarks, patents, copyrights and customer data.
Hilco Streambank CCO Richelle Kalnit spoke on the decision to release these named brand assets, stating: “A buyer of the assets has the opportunity to tap into a rapidly growing online gaming market and to expand upon the brands’ success by emphasising and/or re-entering certain markets, re-engaging the large player database and optimising software and marketing operations.”
One of the named brands, Karamba, had its ‘Starburst Strategy’ advertisement banned by The Advertising Standards Authority in 2018 after receiving a complaint. Additionally, BetTarget was the official Bare Knuckle Fighting Championship Wembley Stadium Event Sponsor in August 2022.
Hilco Streambank is an intellectual property advisory firm. In March, it also sought offers to acquire the brand assets of United States-based home furnishing brand Klaussner.
In other US-related merger and acquisition news, Caesars finalised the purchase of WynnBet’s Michigan iGaming operations last month.
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