GiG acquires AskGamblers & Other Products from Catena: Sensational €45m Deal
In December 2022, GiG (Gaming Innovation Group) and Catena Media proceeded with a sensational deal. GiG acquires AskGamblers for €45m (£38.8m/$47.7m) to provide long-term project growth. Cash, a revolving credit facility (RCF), and a share issue will be applied for this deal.
The first part of €20m will be paid once upon closing the deal, and then, GiG will pay the rest within 24 months. As a result, the deal will be completed in Q1 2023. The deal type is SPA (share purchase agreement), so it will affect the acquisition of Catena Publishing Ltd (Malta) and Catena Media DOO Beograd (Serbia). Besides, GiG will acquire JohnSlots.com and NewCasinos.com.
About Gaming Innovation Group (GiG)
GiG is a leading platform, sportsbook, and media, service provider. It operates in 35+ markets, which makes it available globally. In addition, the company is proud to partner with other trusted brands in the gambling industry, including Betsson Group, LeoVegas, and Bet365. Founded in 2012, it delivered innovative solutions and products, including a unique real-time rules engine providing endless possibilities, a seamless omnichannel solution making products more accessible to the customers, and high-performing media services.
Morten Hillestad, director of business development at GiG Media, commented on the deal:
GiG Media has developed world-class marketing technology and operational capabilities over the preceding years. We feel that bringing the AskGamblers brand into the company structure will provide multiple opportunities for it to flourish.
He believes that it’s a good step for organic growth, and in some time, this decision will bear fruit, improving both the company’s position and the performing results for users.
Jonas Warrer, managing director of GiG Media, said:
We want to be the leading casino affiliate in the industry, and this acquisition cements our position.
He states that it’s a pleasure to deal with high-quality websites like AskGamblers.com so they will easily integrate into the GiG business model. Moreover, it’s an integration of products and skillful people working on these record-breaking solutions.
Richard Brown, CEO of Gaming Innovation Group, added:
Combining the assets with GiG’s media technology and operational capabilities provides us with a great opportunity to expand our global reach and to deliver a path for the brand to continue with its strong evolution.
He is sure that it positively influences the company’s strategic position, so GiG will be happy to work with the premium AskGamblers project.
About Catena Media & AskGamblers
Catena Media is a leading gambling-focused company employing 500+ people working in large countries like Malta, the USA, Sweden, and Australia. AskGamblers is one of Catena’s products which the company also acquired in April 2016 for €15 million. The site is informative and helpful since, by 2015, it managed to return over $26 million of unfairly confiscated and unpaid funds to 9,873 players.
By now, the sites that belong to this group generated €12.9m in the first nine months of 2022 (a double-digit year-on-year decline in revenue). GiG awaits to receive an EBITDA margin of 60-70%, generating 53,000 first-time depositors (FTD) in 2022.
Catena Media CEO Michael Daly said:
Today’s agreement is a major step on our journey to focus the business on online sports betting and casino affiliation in high-growth, regulated markets in the Americas.
He added that the team is happy to see Gaming Innovation Group as a buyer since it’s the right company to continue developing AskGamblers and adding its advanced experience and solutions to the recently acquired sites. Moreover, the talented team Catena managed to grow will find space to continue growing with the facilities of the new company.