Gaming Innovation Group Inc. also was known as GIG as well as its secondary Innovation Labs agreed to acquire Casinotopsonline.com one of the highest regarded affiliate websites for EUR11.5 million. The acquisition is Innovation Labs biggest to date and will drastically strengthen its position as Europe's leading affiliate. The acquisition is part of GIG's strategy to make the iGaming industry a connected and open ecosystem for the benefit of all through integration, development, and growth of the company's four business areas.
First-Time-Depositors Expected To Increase By 25,000
All related assets, as well as the website Casinotopsonline.com, is included in the acquisition and with the current yearly revenue of assets estimated at EUR3 million, the EBIT margin is in a surplus of 90 per cent.
For Innovation Lab the acquisition will enhance its position in regulated markets such as the UK as well as outside Scandinavia, which is expected to provide a 25 percent increase in short-term revenues from Casinotoponline.com. The long-term potential is significant and by including the Innovation Labs operations is expected to generate revenue and cost synergies. FTD's annual increased from Casinotopsonline.com is expected to reach 25,000, and all products will be integrated into the proprietary systems of Innovation Labs.
GIG CEO Expects Stiff Competition
Payment for the acquisition will come from the recent bond placement proceeds and is subject to diligence satisfaction as well as final approval from the board, while April 2017 is when closing is expected. GIG aims to create an eco-system through building the largest iGaming distribution network for suppliers and clients. The acquisition will significantly increase traffic driving capability and is the largest to date in affiliate space. According to CEO Robin Reed, the acquisition of Casinotopsonline.com was carried out while confronting solid competition and GIG is delighted with the acquisition. Mihail Todorov, Casinotoponline's CEO answered by sharing how delighted he is about the fact that GIG is taking the product further and he is looking forward in assisting them in achieving their vision and goals with this truly unique project.
Innovation Labs, GIG's subsidiary is a developing online marketing company in iGaming, which refers paying players to online casinos primarily on perpetual revenue share agreements. It attracts large volumes of paying users by gaining competitive rankings for keywords of high value that are listed by search engines used for optimization, and this optimization generates traffic or players to owned websites. Web sites that have quality content referring to the gambling industry serve as paths, which guide online players to operators. Innovation Labs also guide online paying users via cleverly created data driven systems towards online casinos that are part of its network, which includes media purchasing methods.
The Gaming Innovation Group is a rapidly developing gambling interactive entertainment provider. By offering B2B performance marketing, cutting-edge cloud-based services as well as owning B2C gambling operators, the Company offers games from the top suppliers to both the casino industry and online sports betting industry. Operating out of Malta, the Gaming Innovation Group is listed on the stock exchange in Oslo is listed as GIG.