GiG announces acquisition of Sportnco
Acquisition signals further movement into the American market.
Gaming Innovation Group (GiG) has joined forces with the iGaming company Sportnco Gaming SAS through a share purchase agreement. The union will see Sportnco’s turnkey betting and gaming solutions technology become integral to GiG’s expansive platform.
At the same time, an agreement was also announced between GiG and SkyCity Entertainment Group which will see SkyCity invest €25m ($28.3m) upon the final acquisition of Sportnco. This move is also subject to necessary regulatory approvals.
The new company will now become one of the largest players in the world of iGaming, indicating its future designs on the American market. Sportnco’s strong sportsbook technology will be especially useful as it taps into this sphere.
GiG and Sportnco will be licensed in 25 markets and have no fewer than 55 clients.
Commenting on the move, CEO and Founder of Sportnco, Hervé Schlosser, said: “GiG and Sportnco really have the perfect match in terms of product and geographical areas of business but also as they share the same corporate values. I am excited by the sales potential of our combined offerings.
“Sportnco sportsbook will add strength and attractiveness to the offer of GiG and our mutual PAM solutions will enable us to cover European and American regulated markets for all our existing and future clients.”
Sportnco is active in regulated markets around the world and, while its strongest presence is in Europe, it also has a growing presence in Latin America and the US.
As per the acquisition of Sportnco: GiG will acquire 100% of its shares for €50.8m, of which €23.5m will be new shares and €27.3m will be in cash.
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