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Gaming Innovation Group: Update on the sale of B2C assets to Betsson

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Gaming Innovation Group expands with two new platform agreements with existing partner
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Gaming Innovation Group Inc. (GiG) signed a Share Purchase Agreement (SPA) with Betsson Group (Betsson) for the divestment of GiG’s B2C assets, ref. announcement on 14 February 2020.  The deal has yesterday been formally approved by antitrust regulators allowing the transaction to be completed mid-April 2020.

Betsson will pay EUR 33 million on closing, including EUR 2 million for the cash deposit securing GiG’s Spanish casino license. GiG will use part of these proceeds to repay the Company’s SEK 300 million 2017 – 2020 bond, strengthening the balance sheet and significantly reduce the financial leverage ratio.

The sale of the B2C vertical is a result of GiG’s strategic review to reduce complexity and improve efficiency. By divesting the B2C vertical, GiG will free up resources, enabling full dedication on driving and growing its B2B business, securing stable and sustainable earnings and profit margins. GiG sees a large and sustainable addressable market for its platform business as the regulation of the iGaming industry continues and is well positioned with the omni-channel platform offering to capitalise on the continued digital transformation of the worldwide gambling market.

For more details on the transaction, see announcement on 14 February 2020.

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WorldMatch Attends WGes Barcelona

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WorldMatch’s team is now attending WGes Barcelona. The event, which has commenced on December 6, will end tomorrow.

The WorldMatch team said: “Currently in its 15th year, the World Gaming Executive Summit remains the most senior and high-level event for online, land-based, lottery and sports betting gaming societies.

“The global reach and the great networking opportunities plus the spectacular setting of the W Hotel make WGes one of the most exclusive and influential gatherings for the gaming community.”

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Gambless – Problem Gambling Report: English speakers recorded a severity score 57% higher compared to Italians

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Gambless - Problem Gambling Report: English speakers recorded a severity score 57% higher compared to Italians
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Gambless has been developed and fully funded by Mindspa Health; it has not received any contribution from the gambling industry.

Since its launch, the application has helped thousands of vulnerable individuals and provided resources worth hundreds of thousands of dollars for free to problem gamblers.

Thanks to ranking #1 for most ‘gambling addiction’ related keywords in the app stores, all traffic towards the app has been organic, resulting in 96% of the users scoring a mid-to-high level of problematic gambling.

The operators most frequently mentioned by problem gamblers are: Ladbrokes in the UK, DraftKings in the US, PokerStars in Italy, and TAB in Australia

Comparing language clusters, English speakers recorded a severity score 57% higher compared to Italian speakers, possibly also due to the effects of the gambling advertising ban in place in Italy.

You can access the full version of the report here: https://www.gambless.org/gambless-annual-report-2021/

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GLI Appoints Alberto Ruiz-Ocaña as New Business Development Manager for EMEA

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Gaming Laboratories International (GLI) has appointed Alberto Ruiz-Ocaña as new Business Development Manager for EMEA.

Ruiz-Ocaña has more than 10 years of experience in licensing, compliance, and helping businesses develop and implement successful business strategies. His skills will help enable growth in European and LATAM markets. As Business Development Manager for EMEA, he will be focused on developing opportunities for GLI with new clients across all sectors of the industry including, online, land-based and VLT Lottery.

“Alberto is a great addition to the growing GLI EMEA team, and his experience and contacts, particularly in online gaming, will provide GLI with new opportunities in a rapidly expanding market. His language skills will be beneficial to many of our European clients, which will help us build even more contacts and clients in the EMEA markets,” James Illingworth, Vice President Sales for GLI EMEA, said.

“I am really excited to be joining an industry-leading and respected global company. The EMEA team has already made me feel very welcome, and I look forward to helping them and GLI go from strength to strength,” Alberto said.

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