GiG acquires AskGamblers & Other Products from Catena: Sensational €45m Deal

Casinority Expert
GIG Media logo
Source: gigmedia.com

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.

Leave Comment

Casino news

Dream Hotel Casino Las Vegas | Plans and Progress
Author
By Rebeka Kulakevich
Views
img 25

Dream Hotel Casino Las Vegas | Plans and Progress

There are never too many casinos in a place like Las Vegas. In fact, there is now more demand being that some Covid-related restrictions have been lifted, and gamblers are taking advantage of real-life gambling like never before. With that said, Vegas finally welcomes plans for a 450-room luxury lifestyle hotel on the Las Vegas Strip that is expected to open its doors by 2023.

Popular

Author
By Rebeka Kulakevich
Views
img 12

Illegal gambling streams on Twitch will now be closely monitored

A USA-based live streaming platform called Twitch (owned by Amazon) was originally designed for users to channel and provide commentary on video games. But of course, not one online platform in the world goes without a few individuals using it for completely unrelated purposes. Even strange ones like ASMR (Autonomous Sensory Meridian Response), fortune telling, ladies in bikinis releasing intestinal gases, and more. But now Twitch has a new "genre" to deal with - channels streaming illegal gambling. 

Author
By Rebeka Kulakevich
Views
img 32

Ohio Sports Betting bill concerns | Gambling ads target Youth & minorities

Some forms of entertainment that are permissible to adults must be kept out of children’s sight. With sports betting making its way to Ohio, also come critics who are concern with potentially harmful semantics. Groups are now arguing a bill passed by the Senate this June, as sports betting advertisements appear to target minorities youth. Predatory gambling may make operators an extra buck, but the receiving ends will get a hot burn.

Author
By Rebeka Kulakevich
Views
img 29

Hollywood Casino York Grand Opening | Cashless gaming on the rise

Technology is advancing at an overwhelming rate, especially now that the world relies on computerized machinery more than ever. The gambling industry is no exception to such progress. Cashless gaming is one of the leading innovations that won operators’ hearts as the pandemic called for touch-less transactions. Resorts World Las Vegas became the first entirely cashless casino; up next is the Hollywood Casino York in Pennsylvania. Completing its final steps before the grand opening this upcoming August, the facility will offer a wide range of gambling entertainment accompanied by card-less, contactless, and cashless transactions. Barstool Sportsbook included!

Author
By Rebeka Kulakevich
Views
img 78

Poker game gone wrong - man gets shot and loses his life

Poker is a game, but since it usually involves money, it could become a lot more than a simple form of entertainment. And if people are willing to flip a table during a game of monopoly with fake cash, imagine the anger that could surface when real money is on the line. A 61-year-old man named Joseph Berry serves as an unfortunate example of how unpredictable people can be when a Poker game goes wrong.

If you are an iGaming journalist and are passionate about writing news articles, don’t hesitate! Contact us and publish on Casinority news!
Contact Us img