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Gaming Innovation Group completes acquisition of Sportnco
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.
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.
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.”
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.”
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Mascots in B2B? Gamzix Proves It Works with Gary the Goose
Gary the Goose, the official mascot of Gamzix, has stepped beyond the digital realm and made a real-world appearance. Once a quirky, fictional character seen on LinkedIn, Gary transitioned into a fully realized mascot at SiGMA Europe in Malta. Although mascots are primarily linked to B2C marketing, Gamzix, a leading provider of full-cycle slot games, took an innovative step by introducing Gary into the B2B space. The outcome was the creation of a memorable and captivating character who has captured the hearts of many.
Why Choose a Mascot? The Importance of Gary the Goose in Gamzix’s Brand Strategy
In today’s competitive market, mascots are an important tool for creating a unique and relatable brand identity. Gamzix understands the value of these connections. Gary embodies the brand’s core values of creativity, approachability, and warmth, injecting a sense of personality into the typically formal B2B space. His playful character aligns perfectly with Gamzix’s brand, building stronger ties with casino partners and leaving a lasting impression in the iGaming industry.
Gary’s creation was a thoughtful and deliberate process, designed to reflect the essence of Gamzix. After considering several ideas, the team decided on a quirky, imperfect goose wearing pixelated black sunglasses—a symbol of his forward-thinking perspective and drive for a bright future.
Gary had already become a beloved presence at Gamzix, regularly appearing in LinkedIn posts and on branded merchandise at various events. Despite his popularity in the digital world, many people were eager to meet him in person. Responding to this demand, Gamzix decided to introduce Gary exclusively to its partners at SiGMA Europe in Malta.
Gary the Goose Makes His Live Debut at SiGMA Europe
At SiGMA Europe in Malta, Gary made his long-awaited debut as the central attraction at the Gamzix booth. He interacted with visitors, distributed Gamzix-branded Nike sneakers, posed for photos, and demonstrated the company’s commitment to creating engaging, memorable experiences.
Gary’s vibrant personality drew large crowds, boosting social media engagement and raising the brand’s profile. His presence also created new business opportunities and helped move discussions forward with both existing and potential partners.
The Influence of Mascots in Digital Marketing and Social Media
Mascots are a powerful tool for bringing a brand’s personality to life, especially in digital marketing. Gary’s image has been used in a variety of marketing campaigns, from game announcements to social media content. Whether dressed in a festival tailcoat with a glass of sparkling wine for good luck or appearing in other playful outfits, Gary enables Gamzix to connect with its audience in a fun and approachable manner. His endearing imperfections, such as his amusing potbelly, make him more relatable and human, fostering deeper engagement and expanding the brand’s social media reach.
A Long-Term Strategy for Building Brand Loyalty and Recognition
Mascots help enhance brand recognition both online and offline. Gamzix plans to continue using Gary the Goose to strengthen its brand identity and cultivate lasting relationships with its partners. His unique combination of playful charm and professionalism embodies the core of Gamzix, creating trust and loyalty through both digital campaigns and live events.
Olga Ashykhmina, Digital Marketing Lead at Gamzix, comments, “Research shows that mascots can increase brand recognition by up to 30%. With Gary, we’re changing the way B2B branding is approached, showing that creativity and a personal touch can turn professional partnerships into engaging and impactful experiences.”
Gary the Goose is more than just a mascot; he represents trust and recognition. His infectious personality and unique charm have made him a standout figure, with everyone wanting to interact with him. Through Gary, Gamzix continues to blend creativity and professionalism, creating meaningful connections that leave a lasting impact.
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OLYBET PARTNERS WITH WST
OlyBet is excited to announce an agreement with World Snooker Tour (WST), the home of the world’s best snooker players and tournaments, and part of the Matchroom Sport group.
OlyBet will now be the Official European Betting Partner of WST, as well as the Official Partner of one of the tour’s premium events in The Masters, held in January next year at London’s famed Alexandra Palace, OlyBet will collaborate with WST to showcase the best of professional competition, passionate snooker fans and its world-class players.
“Partnering with WST will bring the excitement, history, and personality of world-class snooker closer to OlyBet’s communities. OlyBet is known for grand activations, up close access and delivering memorable moments through sports. The WST captivates its traditional base and inspires a new generation of fans with the world’s best professionals and personalities. This will be an exciting partnership”, said Corey Plummer Chairman and CEO of OlyBet Group.
The partnership also sees one of WST’s most charismatic and skilful competitors, Jack Lisowski, become OlyBet’s brand ambassador, and will see the former Rookie Of The Year be the face of the partnership on OlyBet’s channels as well as feature in several content projects in conjunction with the tour.
WST’s Chief Commercial Officer Peter Wright said: “It’s exciting to team up for the first time with OlyBet, an inventive brand which has some fantastic partnerships in sports including football and golf. We look forward to collaborating with the OlyBet team and their new ambassador Jack Lisowski, known for his flamboyant style which will fit perfectly with their content strategy.”
Compliance Updates
CT Interactive announces certification of new games for the Italian market
CT Interactive is thrilled to announce that new titles have officially received certification for the Italian market, ready to bring a fresh wave of entertainment to players across the country. This certification ensures that the games adhere to Italy’s stringent regulatory standards for fairness, security, and quality, reinforcing CT Interactive’s dedication to providing top-tier gaming experiences.
The newly certified games include: 5x Cherry Party, Christmas Storm, Jester Jack, Lucky Kiwi, Mega Gnome, Piggy Crash, Star Girl, The Big Chilli, The New Queen of Fruits, Treasure Chase.
These exciting games offer a diverse range of themes, from the festive charm of Christmas Storm to the whimsical adventures of Piggy Crash and Mega Gnome. Whether players are in the mood for the nostalgic appeal of a classic fruit slot like The New Queen of Fruits, or looking for thrilling treasure hunts in Treasure Chase, there’s something for every type of player.
Each game has been developed with a focus on delivering engaging features, rewarding bonuses, and immersive gameplay. With unique mechanics and visually striking graphics, these releases are designed to captivate Italian players and keep them returning for more.
CT Interactive remains committed to enhancing the Italian gaming landscape by consistently providing fresh, exciting content and introducing new ways to play.
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