Connect with us
Prague Gaming & TECH Summit 2025 (25-26 March)

Latest News

Gaming Innovation Group completes acquisition of Sportnco

Published

on

Reading Time: 3 minutes

 

Gaming Innovation Group Inc. signed a Share Purchase Agreement (“SPA”) to acquire the iGaming company Sportnco Gaming SAS  on 22 December 2021. GiG has received the necessary approvals from relevant authorities, and GiG’s Board of Directors has resolved to complete the acquisition, hereunder to issue new shares to the shareholders of Sportnco and to SkyCity Entertainment Group Limited (“SkyCity”).

GiG acquires 100% of the shares in Sportnco Gaming SAS for a consideration of €51.37 million, whereof €27.87 million has been paid in cash and €23.50 million in 12,623,400 new shares in GiG at a share price of NOK 18.08, equal to the VWAP of the GiG share for the past ten days of trading. In addition, Sportnco will retain €18.63 million of its existing long-term loans.

GiG also entered into an agreement with SkyCity in December 2021, whereby SkyCity invests €25 million in GiG through a directed share issue at NOK 18.00 per share, equal to 13,487,500 new GiG shares, financing the main part of the cash consideration to the shareholders of Sportnco.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

GiG issues 26,110,900 new shares to the shareholders of Sportnco and SkyCity, increasing the number of outstanding shares from 96,675,626 to 122,786,526. The shares issued to the shareholders of Sportnco are subject to a 6-month lock-up period.

Sportnco has 84 shareholders whereof the largest being its CEO and founder Hervé Schlosser (15.6%), Olivier Marchal, President at Bain&Co France (9.1%) and BNP Paribas Développment (6.6%), and these will hold 1.60%, 0.93% and 0.67% respectively in GiG. SkyCity will hold 10.98% in GiG.

In addition, the shareholders of Sportnco are entitled to a two year earn-out based on the performance in 2022 and 2023 with up to €11.5 million per year. The earn-out will be paid 50% in cash and 50% in new shares in GiG, where the number of shares to be issued shall be based on a 10-day VWAP of the GiG share at the time of payment, expected in April 2023 and April 2024. Further, to keep key employees in Sportnco, a 3-year option program will be entered into, whereby the option holders, pending continued employment, will receive shares in GiG at future VWAP valuation up to a total aggregate value of €4 million.

The combined company

Sportnco is one of the leading platform providers of turnkey betting and gaming solutions for operators in regulated markets through its inhouse developed sportsbook and PAM. The combined company will enhance and strengthen GiG’s position as one of the industry leading platforms and media providers with innovative and proprietary products and creating one of the largest and fastest growing providers in regulated iGaming with an unparalleled regulated geographical footprint.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

Sportnco has international presence and operates as a leading B2B supplier in France and Spain and is active in other European jurisdictions such as Belgium, Portugal, and Greece, as well as in several high growth Latin American markets and is well positioned to enter the US sportsbook lead states. Sportnco’s geographical presence is highly complementary to GiG’s current offering and combined, GiG and Sportnco will be licensed in 25 markets, currently with around 55 clients. Through the acquisition, GiG has increased both short- and long-term addressable markets meaningfully. Sportnco’s tier 1 sportsbook product is strong, and the acquisition is expected to create attractive commercial, operational, and technological synergies, as well as enable cost savings and accelerated growth.

The combined company will have increased profitability, value proposition with ever increasing growth prospects and further diversification of revenue and geographical reach.

Outlook

With the acquisition of Sportnco, GiG strengthens its position in the platform and sports segments of the iGaming industry and will have multiple possibilities going forward by increasing its product portfolio driving toward a profitable and cash generating business segment. GiG’s Media Services has seen a strong performance over the last two years, delivering high growth levels, increasing diversity of earnings and healthy cash-flow. For the full year 2022, the combined operations should generate revenues of €87-93 million with an EBITDA of €30-35 million. The Board of Directors will have a strong focus on overall operations, including the post-merger integration of Sportnco, and will continue to look at possible strategic options to increase shareholder value going forward.

Richard Brown, CEO of GiG said: “It is with tremendous excitement that we now step forward into the next chapter in GiG’s history. The team at Sportnco have built a tremendous business, one that is highly complementary to GIG’s offering both in product but also addressable market increase, and now the work begins to realise the truly existing growth opportunities that the business combination can pursue. We welcome both the owners of Sportnco & SkyCity as shareholders and the staff of Sportnco into GiG organisation and now move forward with full focus on the execution of the post-merger integration plan.”

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

Hervé Schlosser, CEO and founder of Sportnco, said “Together with all the teams and shareholders who have built the success of Sportnco and Tecnalis, we are extremely proud of the journey we have accomplished since 2008, and of our integration today into the GIG group. I look forward to opening this new chapter as I am confident that, together, we will offer stronger technology solutions for our customers in the fast-growing regulated markets.”

Continue Reading
Advertisement

Latest News

ACR POKER’S FLAGSHIP ONLINE SUPER SERIES LAUNCHES THIS MARCH WITH $25 MILLION IN GUARANTEED PRIZE POOLS

Published

on

acr-poker’s-flagship-online-super-series-launches-this-march-with-$25-million-in-guaranteed-prize-pools

 

Climb the OSS Leaderboard to win a share of $35,000 in cash and tournament tickets

Building on the momentum of its revamped tournament schedule, which features expanded events, bigger guarantees, and faster gameplay, ACR Poker is rolling out its flagship Online Super Series (OSS) with $25 million in guaranteed prize pools from March 16th to 31st.

“Playing in the Online Super Series is always a great experience, and this time, it’s back with $25 million in guarantees across a diverse range of tournaments and buy-ins, ensuring there’s something for every player to enjoy,” said ACR Pro Chris Moneymaker.

Players can get ready for an action-packed OSS, headlined by two Main Events starting on Sunday, March 23rd: the $1.5 million guaranteed ($1,050 buy-in) and the $750,000 guaranteed ($215 buy-in). Adding to the excitement, the $1 million guaranteed ($630 buy-in) Main Multiflight Event kicks off on Sunday, March 16th.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

In addition, this year’s OSS lineup features three Mystery Bounty Multiflight events, including a supersized $500,000 guaranteed tournament with a $109 buy-in. For players seeking more budget-friendly options, the $200,000 guaranteed ($33 buy-in) and the $75,000 guaranteed ($5.50 buy-in) events are also on offer. Day 1 flights for these events begin this Sunday.

What’s more, ACR Poker is bringing back its OSS Leaderboard Contest. Players can compete for a share of over $35,000 in cash and tournament tickets, spread across two separate leaderboards with high ($44 and over) and low ($33 and under) buy-in levels.

Players can keep track and add their favorite OSS events to their calendar easily with ACR Poker’s online tournament schedule.

Online Super Series highlights:

  • $25 million in guaranteed prize pools
  • $35,000 Leaderboard Contest
  • Small, medium and large buy-ins
  • $1.5 million guaranteed Main Event, $1 million guaranteed Main Multiflight Event
  • Three Mystery Bounty tournaments (including $500,000 guaranteed)

Beyond the OSS, ACR Poker is just getting started with its turbocharged poker offerings. Players can jump into the revamped tournament schedule, take their shot in the Punta del Este Satellites on March 9th and 16th to win one of 16 packages ($5,500 value each) to the Enjoy Poker Tour in Uruguay, and prepare for a massive April lineup featuring two Venom tournaments.

For more information on the $25 million guaranteed Online Super Series, read the ACR Poker blog or visit ACRPoker.eu.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

 

The post ACR POKER’S FLAGSHIP ONLINE SUPER SERIES LAUNCHES THIS MARCH WITH $25 MILLION IN GUARANTEED PRIZE POOLS appeared first on Gaming and Gambling Industry in the Americas.

Continue Reading

BitLine

Bitline and Everi Announce Crypto Liquidity for Choctaw Casinos & Resorts in Industry First Development

Published

on

bitline-and-everi-announce-crypto-liquidity-for-choctaw-casinos-&-resorts-in-industry-first-development

 

Bitline, the only provider for casino chip access directly from cryptocurrency, has announced its first major collaboration in the U.S. casino market, teaming up with Choctaw Casinos & Resorts through its collaboration with Everi’s CashClub, the leading financial access services suit for casino payments. This collaboration introduces cryptocurrency and digital assets as a new source of liquidity for casino patrons and marks the first time that such a functionality has been enabled within the American gaming industry.

Leveraging Everi’s CashClub’s comprehensive payment infrastructure, Bitline’s solution is able to efficiently board, screen and verify patrons looking to leverage their digital assets whilst also allowing patrons to move screened assets into custody within minutes. Bitline’s integration with Everi’s CashClub, will enable the technology for the benefit of Choctaw Casinos & Resorts, and is the first time that such a functionality has been possible in the U.S. regulated casino market.

The collaboration works to cater to the growing demand for greater cryptocurrency and digital asset integration within the casino industry. The collaboration between Bitline and Everi’s CashClub forms a transferable blueprint that offers casino operators and their patrons an alternative way to manage funds, access liquidity, and leverage the benefits of cryptocurrency and other digital assets.

This milestone reflects a strategic shift in how casino operators view and manage financial interactions with their guests. The introduction of cryptocurrency as a liquidity solution provides additional options for guests and lays the foundation for  Choctaw Casinos & Resorts as it looks to the future of gaming sector finance, setting a new standard in financial accessibility and convenience.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

“Working with Choctaw Casinos & Resorts and Everi’s CashClub to make this a reality is a historical moment for both the casino and blockchain industries. Bitline was conceptualized to advance the gaming sector and offer a wider variety of financial options for the casino industry,” said Richard Jones, CEO at Bitline. “We’re entering an era where digital assets can fundamentally enhance the gaming experience, providing casino operators with a future-ready financial framework that can expand and evolve as the industry does. This collaboration is just the beginning of our vision to modernize casino payment capabilities on a global scale.”

“We are excited to be the first casino in North America to offer our guests another way to play,” said Thomas McDonald, Senior Director of Cage and Credit at Choctaw Casinos & Resorts. “Through our long-term relationship with Everi, a leader in fintech solutions, we will continue to invest in innovative offerings that provide the discerning gaming VIP access to funds in a safe and secure manner.”

 The Choctaw Casinos & Resorts integration represents only the first phase of Bitline’s broader mission to bring cryptocurrency solutions to casinos and casino patrons worldwide. As cryptocurrency and digital assets continue to gain traction in the gaming sector, Bitline’s easy to integrate and patented payment model stands poised to become a key player in transforming gaming finance. Future plans include expanding  services across other major casinos and gaming markets, both domestically and internationally, establishing cryptocurrency as a new standard feature of the gaming experience.

The solution is to be formally rolled out on March 7, 2025, with the first transaction taking place at Choctaw’s Durant, Oklahoma, location.

The post Bitline and Everi Announce Crypto Liquidity for Choctaw Casinos & Resorts in Industry First Development appeared first on Gaming and Gambling Industry in the Americas.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)
Continue Reading

BiS SiGMA Americas 2025

DATA.BET Joins BiS SiGMA Americas 2025

Published

on

data.bet-joins-bis-sigma-americas-2025

 

Another step in expanding into this dynamic market

DATA.BET strengthens its foothold in the Latin American market with its presence at BiS SiGMA Americas 2025. This marks the provider’s debut with the booth at Brazilian’s show, highlighting its ambitious plans to present its premium esports betting and virtual content solutions.

At the stand E140, DATA.BET’s team will connect with current and potential clients and partners to introduce esports betting and data products enhancements. Visitors can explore technically upgraded Single Page Application (SPA) and interactive widgets designed to optimize the betting experience, especially for mobile devices, and operational efficiency. In addition, the company offers extensive esports coverage with 35+ disciplines and over 12,500 live events monthly. Together with its virtual sports lineup that features 600,000 events yearly, DATA.BET provides a broad spectrum of betting content.

“As the industry evolves, we remain focused on equipping operators with comprehensive solutions needed to succeed,” said Otto Bonning, Head of Sales at DATA.BET. “LatAm represents a key market for many betting companies. Our presence at BiS SiGMA Americas 2025 underscores the  dedication to this region and businesses that aim to develop it, and we can’t wait to connect with leading professionals and partners.”

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

The post DATA.BET Joins BiS SiGMA Americas 2025 appeared first on Gaming and Gambling Industry in the Americas.

Continue Reading

Trending