iGaming technology company Gaming Innovation Group (GiG) announced Tuesday it has completed the acquisition of casino affiliate websites Askgamblers.com, Johnslots.com, Newcasinos.com, and several smaller domains from Catena Media Plc. As of that date, the company will consolidate these assets.
“GiG Media is eagerly anticipating the operational and commercial opportunities of the well-regarded affiliate website AskGamblers, now that the transaction has closed,” the company said in a statement following the acquisition.
According to a press release, management is focused on “elevating the performance” of this asset and has “a clear strategy” to implement GiG Media’s technical SEO and marketing technology, along with Askgamblers’ extensive knowledge.
The company explained it aims to drive “substantial growth and maximize profitability” through a renewed focus on the Askgamblers domain, with the goal to increase revenue and EBITDA in the near future.
— Gaming Innovation group (GiG) (@GIG_online) January 31, 2023 Richard Brown, CEO of GiG, said: “We are thrilled to add another top casino affiliate site to our portfolio and believe it holds immense growth potential. The acquisition also broadens our geographical footprint and increases revenue diversity geographically and client-wise, reducing the overall operational risk.”
The transaction is structured by way of a Share Purchase Agreement (SPA) by GiG’s subsidiary Innovation Labs Ltd. and includes the acquisition of companies Catena Publishing Ltd (Malta) and Catena Media D.O.O. Beograd (Serbia). These companies currently employ around 90 people.
The consideration (on a cash-free and debt-free basis) is €45 million ($47.8 million), of which €20 million ($21.2 million) was paid on Tuesday with the remaining balance to be paid in two installments: €10 million ($10.6 million) on January 31, 2024, and 31 January 2025 (€15 million) ($15.9 million).