Gaming Innovation Group, Inc. (GiG) has today signed a share purchase agreement to acquire 75% of the shares of Croatian company Top Games d.o.o. (Top Games), a company which qualifies for a remote gambling permit.
The agreement provides market access to one of GiG’s in-house brands. It is based on a collaborative partnership model, expanding GiG’s B2C online gaming offering in a growing regulated market. Both parties will co-operate in the ongoing operation of the business.
GiG will acquire 75% of Top Games with the remaining 25% retained by the local partner who has a successful history in land-based casino businesses. The payment for this acquisition is solely based on a contribution of resources by the shareholders with no cash being paid. The local partner will upfront the initial costs, whereas GiG will provide rights of use of brand, a gambling platform and operational expertise.
GiG is planning to enter the online casino market in Croatia via this partnership in the first half of 2020. GiG expects moderate impact on its revenues deriving from this agreement from H2 2020 with an accelerated increase in revenue contribution from H1 2021.
Croatia has a population of approximately 4.1 million and is a regulated market, currently with six licensed online casinos. Croatia supports the locally regulated online operators by IP blocking both offshore and other non-regulated operators. The total gambling gross win in Croatia has an estimated total value of approximately €360 million in 2020e*. Online gambling in Croatia is subject to a gambling duty of 15%.
Richard Brown, acting CEO of GiG says: “I’m excited to further expand our B2C business by entering another regulated jurisdiction. Croatia is a very interesting marketplace for gambling and supports our strategy to grow our own brands in high potential and regulated markets. GiG has a track record of creating responsible gaming experiences with a captivating UX. This is a good opportunity to showcase the strength of our online casino offering and our passion for providing end users with a safe, responsible and competitive online gambling experience.”
The transaction is subject to the conclusion of regulatory approvals.
Red Star Poker to Join Playtech’s iPoker Network
Red Star Poker is going to join the iPoker network of Playtech.
Having been a well-established Poker operator across Eastern European markets, Red Star’s agreement with Playtech reaffirms that, Playtech’s commitment to the Poker vertical continues to strengthen.
Red Star Poker was established in 2005 to provide a comfortable and secure poker experience to players worldwide. Since then, Red Star has been chosen as a safe and reliable partner by hundreds of thousands of players looking for a high-quality gaming solution that focuses on the Eastern European marketplace.
With a focus on growth in regulated markets worldwide, in line with Playtech’s wider strategy, the iPoker network offers an excellent liquidity pool, backed by software and services developed to comply with regulatory requirements in multiple jurisdictions.
“We are delighted to welcome Red Star on board with Playtech. At a time when the Poker market is facing undeniable challenges, at Playtech we are completely committed to addressing those challenges head-on. Red Star’s decision to collaborate with us is a testament to our long-term investment in our Poker network and its ongoing development – and, of course, our commitment to our operators,” Shimon Akad, COO of Playtech said.
BlueRibbon Software breaks ground in Romania with Maxbet.ro
B2B marketing platform provider BlueRibbon Software has signed a strategic partnership deal with the leading European online gaming company MaxBet.ro which is the online extension of the hugely popular MaxBet Group, with venues spanning across Romania and other countries throughout Central and Eastern Europe.
Through this partnership, MaxBet.ro will launch innovative and bespoke jackpot-based promotions across all its B2C products in Romania, giving them a competitive edge above their rivals, and additionally rewarding players with a new layer of excitement and anticipation during gameplay.
“We are very aware of the marketing challenges facing operators today and believe that online gaming brands need to differentiate themselves. We see a constant demand for them to implement innovative solutions in order to acquire new players while retaining existing ones. That said, BlueRibbon is committed to supporting their requirements by working closely with them, providing bespoke solutions to meet their needs.
As our platform is agnostic to any game or vertical, and every bet or action on any product gives players a real chance of winning a jackpot prize, operators can create unique jackpots that resonate with their player segments. We’re giving them the tools needed for them to reach their business objectives,” said Amir Askarov, co-founder and CEO of BlueRibbon Software.
“MaxBet.ro, is one of the most respected gaming operators in Romania, and we at BlueRibbon are excited to be working side by side with such a reputable industry leader. Entering into such an esteemed partnership with MaxBet.ro is testament to BlueRibbons capability in offering innovative marketing solutions using jackpots and tournaments, while creating a thrilling environment for players to immerse themselves in,” Askarov added.
”Online gambling is an area where things are constantly changing and updating so this partnership is for us an unique opportunity through which we can offer our clients the innovative services they expect and deserve. We are glad that this exclusive collaboration with BlueRibbon helps us to be above the set standards and that it emphasizes one of the strengths of MaxBet.ro platform – the jackpots and the ease with which they can be won”, said Victor Rusinov, the CEO of MaxBet.ro
The Eastern European Gaming Summit 2019 is right around the corner!
In the middle of November, in the heart of Bulgaria, the exciting annual conference on regulation and technical development in Eastern Europe will be taking place. The EEGS, known as the Eastern European Gaming Summit, will bring together not only the entire gaming sector, but also sectors touching upon leisure and tourism to invite different perspectives into the igaming discussion during Nov 19-20, 2019.
The agenda of the event is already live and up to date. There seems to be a handful of hot topics that affect all players in the industry. Those who attend will definitely be absorbing the latest insights and can take advantage of the huge networking opportunity which allows these notable companies to all be under the same roof.
During the highly anticipated conference, an interesting topic that has attracted our attention will take the spotlight. On the first day of the summit, there will be an IMGL (International Masters of Gaming Law) Masterclass where Endorphina’s Head of Legal, Jakub Kolomicenko, with other respectful lawyers such as Stefano Sbordoni and Mikkel Taanum, will discuss Advertisement Restrictions. This is crucial for gaming providers, as it highlights the latest regulations which are necessary to follow and understand from a legal perspective for the igaming industry.
Endorphina’s representative, Jakub Kolomicenko, has recently shared some thoughts on the importance of this topic:
“I am excited to be part of the IMGL Masterclass where we will be discussing Restrictions on Advertising. I will contribute to this updated and heated topic with the perspective of a game software provider.”
We are looking forward to seeing how the event unfolds, to the panel, and the summit itself, as the discussed questions will influence all of us in the igaming industry.
Learn more about Endorphina: https://endorphina.com/
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