iGaming technology provider Gaming Innovation Group announced Thursday it has signed an agreement to acquire the casino affiliate websites Askgamblers.com, Johnslots.com, Newcasinos.com, and several smaller domains from Catena Media Plc for a total of €45 million ($47.8 million).
According to a press release, of the total consideration, €20 million ($21.2 million) will be paid in cash on closing, €10 million ($10.6 million) twelve months after closing, and the €15 million ($15.9 million) balance 24 months after closing. Closing is expected in Q1 2023.
The acquired websites generated revenue of €12.9 million ($13.7 million) in the first nine months of 2022 with an EBITDA of €8.4 million ($8.9 million). GiG expects to have an EBITDA margin between 60-70% from the assets going forward. The assets are expected to generate around 53.000 FTDs in 2022.
The company believes that the acquisition will diversify GiG Media’s business further in line with the strategy to create sustainable long-term growth and provide the business with several key strategic assets and multiple revenue opportunities.
“The acquired websites are strong in markets that currently are non-core markets for GiG Media, therefore expanding our current geographical reach. Further to the revenue growth potential, operational synergies are expected to be realized after the acquisition via the shared use of marketing technologies, business intelligence systems, and key functions,” the company noted.
We’ve signed an agreement to acquire the casino affiliate websites https://t.co/gOnITLYCAy, https://t.co/A21pbuNfUQ, https://t.co/g6PulpiMbx and several smaller domains from Catena Media Plc.https://t.co/gZMgS95vbf#iGaming, #Casino #affiliatemarketing $GiG #GiGMedia
— Gaming Innovation group (GiG) (@GIG_online) December 15,…..