Industry News
Aspire Global Sells its B2C Segment to Esports Technologies
Aspire Global has signed an agreement to sell its B2C segment to Esports Technologies Inc. The divestment is following Aspire Global’s review of the B2C segment that was announced in March this year. The consideration sums up to about €65 million. The transaction also includes a four-year platform and managed services agreement with an estimated gross value of €70 million.
The consideration consists of €50 million in cash, €10 million in a promissory note and €5 million in common stock in the listed entity of Esports Technologies. The platform and managed services agreement consists of royalties related to the use of Aspire Global’s platform and related services during the coming four years. The estimated value of the royalties is based on the present performance and might change in the coming years. The total value of the transaction is estimated to be €135 million.
Aspire Global’s B2C segment consists of several B2C-brands, including the successful Karamba brand. In Q2 2021, the B2C segment reported rolling twelve months net gaming revenues of €61.8 million and €6.9 million in EBITDA. The B2C segment has shown significant growth across all main B2C brands in the twelve month period, driven by among all continuous optimisations in all marketing channels. The review of the B2C segment was initiated in March 2021 to assist Aspire Global in assessing its options to improve overall margins and EBITDA as well as further accelerating new B2B initiatives and enter fresh markets.
Tsachi Maimon, CEO of Aspire Global, said: “Esports Technologies is a strong company with high growth ambitions and is a perfect match for our B2C-brands. With Aspire Global’s B2C-brands, Esports Technologies gains leading, well established brands, an excellent base for further growth and a very talented team that contributed to the B2C’s growth. We are confident that Esports Technologies will take our B2C-brands to the next level and we welcome Karamba and the other B2C-brands as our new partners.”
Aaron Speach, CEO of Esports Technologies, said: “We have high growth ambitions and aim to be one of the biggest esports operators in the world. Aspire Global’s B2C-brands are excellent complements to our strong-growing Esports Technologies brand and will be key in the continued execution of our growth strategy.”
The closing of the acquisition is subject to Esports Technologies receipt of financing, as well as other closing requirements. The transaction is expected to close by November 30, 2021.
SUZOHAPP has announced the appointment of Geoff McDowell as its new President, effective October 1, 2024.
McDowell previously worked at SUZOHAPP from 2010 to 2017, successfully leading the gaming business in Australia and Asia. He rejoins the company from Coinflip, a global digital currency platform, where he was SVP/GM of US Kiosks. Prior to that, he held the position of CEO of Atlas Gaming Pty Ltd, an Australian developer of proprietary gaming content and products.
“We are thrilled to welcome Geoff back to our global leadership team to lead one of our core divisions. His proven track record in growth and strategy execution will be invaluable as we continue to serve our customers and achieve strong results. We also extend our gratitude to Sim Bielak for his years of dedicated service and leadership at SUZOHAPP,” said Drew Scielzo, ACON Partner.
Geoff McDowell is excited about his return and the opportunity to drive SUZOHAPP’s success. “SUZOHAPP is an exciting company with tremendous growth potential and a strong team. I look forward to embracing this new challenge in an industry I am passionate about,” he said.
The post SUZOHAPP Appoints Geoff McDowell as New President appeared first on European Gaming Industry News.
Amusnet has released Showtime Roulette 500x, where entertainment meets innovation. This fast-paced European roulette reinvents the classics, featuring a host who presents, entertains and spins the wheel for a seamless, engaging experience. With every spin, a random multiplier can increase the payouts by 50x, 100x, 150x, 200x, 250x and 500x for a thrilling experience. Showtime Roulette 500x offers a fantastic gaming experience that is sure to entertain and captivate players.
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The post Amusnet Releases Showtime Roulette 500x appeared first on European Gaming Industry News.
Industry News
GROUPE PARTOUCHE: Acquisition of a Building at the Foot of the Arc De Triomphe to House its Parisian Gaming Club and its Head Office
Groupe Partouche has acquired a building, strategically located at Place de l’Etoile in Paris, at 10 avenue de la Grande Armée.
With a surface area of over 8000 m² spread over seven levels, this building will undergo development work to accommodate its Parisian gaming club currently located on rue de Berri.
This building will also house the headquarters of Groupe Partouche.
The post GROUPE PARTOUCHE: Acquisition of a Building at the Foot of the Arc De Triomphe to House its Parisian Gaming Club and its Head Office appeared first on European Gaming Industry News.
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