GiG acquires AskGamblers from Catena Media for €45 million

[The Buzz]

Gaming Innovation Group (GiG) has signed an agreement to acquire casino affiliate websites Askgamblers.com, Johnslots.com, Newcasinos.com and several smaller domains from Catena Media for a total consideration of €45 million.

As part of the deal, €20 million will be paid in cash on closing, EUR 10 million 12 months after closing and the €15 million balance 24 months after closing. Closing is expected in Q1 2023.

From the GiG press release:

The acquisition will diversify GiG Media’s business further in line with the strategy to create sustainable long-term growth and provide the business with several key strategic assets and multiple revenue opportunities. The acquired websites are strong in markets that currently are non-core markets for GiG Media, therefore expanding our current geographical reach. Further to the revenue growth potential, operational synergies are expected to be realised after the acquisition via the shared use of marketing technologies, business intelligence systems and key functions.

The transaction is structured by way of a Share Purchase Agreement (SPA) with GiG’s subsidiary Innovation Labs Ltd. (part of GiG Media) and includes the acquisition of the two companies Catena Publishing Ltd (Malta) and Catena Media D.O.O. Beograd (Serbia). These companies currently employ around 90 people.

Read more here: https://www.gpwa.org/article/gaming-...amblers-246481

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