Glitnor Group has launched an investment arm, Glitnor Ventures, seeking to further expand its reach and leverage in the international igaming industry.
Specifically aiming to make better use of its network of divisions and investment areas for greater leveraging, Glitnor Ventures will sit alongside the group’s B2C Lucky Casino and Happy Casino brands and Swintt B2B game and platform developer.
The firm’s existing investments include a stake in betting and gaming affiliate firm KaFe Rocks and its time2play brand and Indian igaming studio RNGPlay.
David Flynn, Glitnor Group CEO, said: “Glitnor Group has always been very open about its ambitions to become the most entrepreneurial and fastest growing business group in the igaming industry and the creation of Glitnor Ventures is another step in this direction.
“Our goal with Glitnor Ventures, is to work with innovative projects from pre-seed to seed and support across the entire scope of products, technology and services across the igaming spectrum.
“We are primarily an early-stage investor and add support from our expertise and network in the igaming space.”
The announcement closely follows the news that Glitnor Group and KaFe Rocks had reached an ‘amicable’ agreement to call off the proposed takeover of the latter.
As mentioned above, instead of acquiring and integrating KaFe Rocks into its wider network, Glitnor Group will instead continue as a ‘significant shareholder’ in the affiliate.
With Glitnor making an investment in the firm, KaFe Rocks will continue to be managed by its founding members and existing leadership – minus CEO Simon Pilkington, who announced his departure earlier this year – focusing on ‘growth and development’.
Glitnor states that, in addition to remaining a stakeholder in KaFe Rocks, the two companies will continue to enjoy a ‘close, professional and friendly relationship’.
In an interview at the SBC Summit Barcelona earlier this year, Flynn commented on the development of Glitnor’s affiliate interests, discussing opportunities in the UK, Eastern Europe, Latin America and the US.