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Gaming Innovation Group Inc. (GiG) has today signed an agreement to acquire the casino affiliate websites Askgamblers .com, Johnslots .com, Newcasinos .com and several smaller domains from Catena Media Plc. The total consideration is EUR 45 million, of which EUR 20 million will be paid in cash on closing, EUR 10 million twelve months after closing and the EUR 15 million balance 24 months after closing. Closing is expected in Q1 2023.
Askgamblers is an award-winning website recognised as a well-trusted website source in the iGaming industry with strong brand recognition by users. Johnslots and Newcasinos build on GiG Media’s strategy to diversify its business. With this acquisition, GiG Media cements its position in the industry as the leading casino affiliate.
The acquired websites generated revenue of EUR 12.9 million in the first nine months of 2022 with an EBITDA of EUR 8.4 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 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 realised after the acquisition via the shared use of marketing technologies, business intelligence systems and key functions.
The transaction is structured by way of a Share Purchase Agreement (SPA) with GiG’s subsidiary Innovation Labs Ltd. (part of GiG Media) and includes the acquisition of the two…