Gaming Innovation Group completes acquisition of Sportnco


OSLO, Norway, April 1, 2022 /PRNewswire/ — Gaming Innovation Group Inc. (“GiG” or the “Firm”) signed a Share Buy Settlement (“SPA”) to accumulate the iGaming firm Sportnco Gaming SAS (“Sportnco”) on 22 December 2021. GiG has acquired the mandatory approvals from related authorities, and GiG’s Board of Administrators has resolved to finish the acquisition, hereunder to problem new shares to the shareholders of Sportnco and to SkyCity Leisure Group Restricted (“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 money and €23.50 million in 12,623,400 new shares in GiG at a share worth of NOK 18.08, equal to the VWAP of the GiG share for the previous ten days of buying and selling. As well as, Sportnco will retain €18.63 million of its current long-term loans.

GiG additionally entered into an settlement with SkyCity in December 2021, whereby SkyCity invests €25 million in GiG by means of a directed share problem at NOK 18.00 per share, equal to 13,487,500 new GiG shares, financing the principle a part of the money consideration to the shareholders of Sportnco.

GiG points 26,110,900 new shares to the shareholders of Sportnco and SkyCity, rising the variety of excellent shares from 96,675,626 to 122,786,526. The shares issued to the shareholders of Sportnco are topic to a 6-month lock-up interval.

Sportnco has 84 shareholders whereof the biggest 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 maintain 1.60%, 0.93% and 0.67% respectively in GiG. SkyCity will maintain 10.98% in GiG.

As well as, the shareholders of Sportnco are entitled to a two yr earn-out based mostly on the efficiency in 2022 and 2023 with as much as €11.5 million per yr. The earn-out might be paid 50% in money and 50% in new shares in GiG, the place the variety of shares to be issued shall be based mostly on a 10-day VWAP of the GiG share on the time of fee, anticipated in April 2023 and April 2024. Additional, to maintain key workers in Sportnco, a 3-year possibility program might be entered into, whereby the choice holders, pending continued employment, will obtain shares in GiG at future VWAP valuation as much as a complete combination worth of €4 million.

The mixed firm

Sportnco is likely one of the main platform suppliers of turnkey betting and gaming options for operators in regulated markets by means of its inhouse developed sportsbook and PAM. The mixed firm will improve and strengthen GiG’s place as one of many {industry} main platforms and media suppliers with progressive and proprietary merchandise and creating one of many largest and quickest rising suppliers in regulated iGaming with an unparalleled regulated geographical footprint.

Sportnco has worldwide presence and operates as a number one B2B provider in France and Spain and is energetic in different European jurisdictions comparable to Belgium, Portugal, and Greece, in addition to in a number of excessive development Latin American markets and is nicely positioned to enter the US sportsbook lead states. Sportnco’s geographical presence is extremely complementary to GiG’s present providing and mixed, GiG and Sportnco might be licensed in 25 markets, presently with round 55 shoppers. Via the acquisition, GiG has elevated each short- and long-term addressable markets meaningfully. Sportnco’s tier 1 sportsbook product is robust, and the acquisition is predicted to create enticing industrial, operational, and technological synergies, in addition to allow price financial savings and accelerated development. 

The mixed firm could have elevated profitability, worth proposition with ever rising development prospects and additional diversification of income and geographical attain. 


With the acquisition of Sportnco, GiG strengthens its place within the platform and sports activities segments of the iGaming {industry} and could have a number of potentialities going ahead by rising its product portfolio driving towards a worthwhile and money producing enterprise phase. GiG’s Media Companies has seen a robust efficiency over the past two years, delivering excessive development ranges, rising range of earnings and wholesome cash-flow. For the complete yr 2022, the mixed operations ought to generate revenues of €87-93 million with an EBITDA of €30-35 million. The Board of Administrators could have a robust deal with total operations, together with the post-merger integration of Sportnco, and can proceed to take a look at potential strategic choices to extend shareholder worth going ahead.

Richard Brown, CEO of GiG mentioned: “It’s with large pleasure that we now step ahead into the following chapter in GiG’s historical past. The group at Sportnco have constructed an incredible enterprise, one that’s extremely complementary to GIG’s providing each in product but in addition addressable market enhance, and now the work begins to grasp the actually current development alternatives that the enterprise mixture can pursue. We welcome each the homeowners of Sportnco & SkyCity as shareholders and the employees of Sportnco into GiG organisation and now transfer ahead with full deal with the execution of the post-merger integration plan.”

Hervé Schlosser, CEO and founding father of Sportnco, mentioned “Along with all of the groups and shareholders who’ve constructed the success of Sportnco and Tecnalis, we’re extraordinarily pleased with the journey we’ve achieved since 2008, and of our integration at this time into the GIG group. I look ahead to opening this new chapter as I’m assured that, collectively, we are going to provide stronger expertise options for our prospects within the fast-growing regulated markets.”

For additional data, please contact:
Richard Brown, CEO GiG, [email protected], +34 661599025
Herve Schlosser, CEO Sportnco, [email protected]

About Gaming Innovation Group (GiG)

Gaming Innovation Group is a number one iGaming expertise firm, offering options, services and products to iGaming Operators. Based in 2012, Gaming Innovation Group’s imaginative and prescient is ‘To be the industry-leading platform, sportsbook and media supplier delivering world-class options to our iGaming companions and their prospects.  GiG’s mission is to drive sustainable development and profitability of our companions by means of product innovation, scalable expertise and high quality of service. Gaming Innovation Group operates out of Malta and is dual-listed on the Oslo Inventory Change underneath the ticker image GIG and on Nasdaq Stockholm underneath the ticker image GIGSEK. 

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SOURCE Gaming Innovation Group


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