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Gaming Innovation Group to enter the Croatian market

George Miller

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Gaming Innovation Group to enter the Croatian market
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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.

 

Balkans

Bulgarian Gambling Regulator Suspends Eurofootball Licence

Niji Narayan

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Bulgarian Gambling Regulator Suspends Eurofootball Licence
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The Bulgarian State Commission on Gambling has suspended the licence of bookmaker Eurofootball for three months over unpaid taxes.

The commission said that Eurofootball could resume betting activities if it pays 329 million levs ($182.11 million) to the state within three months.

Eurofootball was founded in 1990 and became hugely successful with more than 800 betting shops operating around the country.

The Bulgarian government has been unable to formulate a proper law governing sports betting for some time now. Eurofootball has been the sole bookmaker in the country for many years.

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Eastern Europe

Evolution Gaming Shuts Down its Studio in Georgia

Niji Narayan

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Evolution Gaming Shuts Down its Studio in Georgia
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Evolution Gaming has temporarily closed its studio in Georgia, following the latest government measures on coronavirus. A large part of its operations will continue through the company’s other studios in Europe.

Evolution’s Tbilisi studio adheres to all guidelines regarding social distancing and the company has also implemented infection prevention measures in the studio.

Evolution Gaming develops, produces, markets and licenses fully-integrated B2B Live Casino solutions to gaming operators. Since its inception in 2006, Evolution has developed into a leading B2B provider with 200+ operators among its customers. Evolution operates studios in 8 locations.

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Eastern Europe

Skywind Group Signs Deal with Superbet

Niji Narayan

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Skywind Group Signs Deal with Superbet
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Online casino content developer Skywind Group has signed a deal with the Romanian betting and gaming firm, Superbet. The deal will allow Superbet to gain access to Skywind Group’s entire games portfolio.

“We are very happy with our partnership with Superbet, entering the Romanian market is a natural step for us, as we are rapidly entering many regulated markets around the globe,” Oren Cohen Shwartz, managing director at Skywind Group, said.

“Going live with Superbet, one of the most valuable operations in Romania, is a strong statement and I am positive that this partnership will be very fruitful, and we will expand it to additional markets soon,” Shwartz added.

“Skywind has a localized approach to games and a fantastic reputation for producing top quality games and player engagement tools. We’re thrilled to go live with their content,” Joe Legge, group gaming director at Superbet, said.

Superbet will implement Skywind’s game portfolio over the coming weeks with a final implementation date yet to be confirmed.

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