Oslo-listed Gaming Innovation Group (GIG) continues its M&A focused growth strategy and industry affiliate marketing services expansion by confirming the acquisition of Casinotopsonline.com for a total consideration of €11.5 million.
Updating the market, GIG governance detailed that its takeover of Casinotopsonline.com and its related assets represented industry marketing subsidiary Innovation Labs biggest acquisition to date.
On completing the deal, GIG expects Casinotopsonline.com to make a direct contribution to corporate revenues and performance. Casinotopsonline.com has a reported €3 million yearly revenue run rate as one of Europe’s largest online casino review portals.
GIG detailed to investors, that it would look to boost Casinotopsonline.com’s revenues by ‘25% in the short term’. Adding the asset to its Innovation Labs division, GIG teams will further look to boost first-time player referrals by 25,000.
The acquisition will be paid by part of the proceeds from its recent GIG Oslo bond placement and is subject to a satisfactory due diligence and final board approval. Closing is expected in April 2017.
GIG Chief Executive Robin Reed commented on his firm’s latest acquired asset
“The aim of GIG is to build the largest distribution network in iGaming for our clients and suppliers, and as such creating an eco-system for iGaming. This acquisition is our largest in the affiliate space till date and will significantly increase Our traffic driving capability. More so it was done facing stiff competition, at an attractive multiple of four on current revenue run-rate, excluding potential cost and revenue synergies. We are delighted to acquire casinotopsonline.com”
Gaming Innovation Group CEO Robin Reed will be speaking on industry marketing and player acquisition strategies at the ‘Betting on Football Conference’ (3-5 May -Stamford Bridge – London). Click on the below tab for more information…