GIG continues European affiliate expansion
Gaming Innovation Group Inc. (GIG) and its subsidiary Innovation Labs has agreed to acquire a highly regarded affiliate network targeting sports book players in the DACH region (Germany, Austria and Switzerland), for a total consideration of EUR 5.7 million.
The acquisition includes a network of sports book websites, and all related assets, IP and affiliate accounts. The network provide reviews and betting tips to users on upcoming sporting events.Current yearly revenue run-rate of the acquired assets is approximately EUR 1.4 million and with a strong EBIT margin of above 85%.
The acquisition expands Innovation Labs geographical footprint to one of the largest markets in the world, and significantly strengthens its sports betting assets.The acquisition of the network is expected to add at least another 5,000 high value First Time Depositors (FTDs) over the coming 12 months.The network will be integrated into Innovation Labs own BI/Data proprietary systems & marketing platforms, providing both technological and operational synergies.
The acquisition will be settled with proceeds from the recent bond issue. The transaction is subject to a satisfactory due diligence and final board approval. Closing is expected in June 2017.
“We aim to make Innovation Labs the largest lead generation business in iGaming. Through this acquisition, we are entering the DACH markets whom are likely to be re-regulated in the future, and are therefor markets we are increasingly focusing on. This acquisition will enable Innovation Labs to refer more German speaking customers to our B2B partners and thus benefit all parties engaged in the expanding GIG iGaming eco-system”, says Robin Reed, CEO of GIG.
GIG’s subsidiary Innovation Labs is a fast-growing online marketing company for iGaming. It refers paying users to B2B clients primarily on perpetual revenue share agreements. It sources these paying users by obtaining competitive rankings for high-value keywords in search engines through SEO (search engine optimization), generating traffic to owned websites. These websites have guides and quality content for the gaming industry and serves as paths to operators. Innovation Labs also refer paying users through data driven media buying techniques.
In March GIG entered into agreement to acquire Casinotopsonline.com (see OSE announcement on Friday 10 March 2017). All conditions for completing the transaction have been fulfilled and closing has taken place.
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