GiG’s Brand Sale to Betsson to Complete This Month

Staff Writer Industry News, GiG Games 88

One of the biggest brand sales in 2020 that caused a stir in the industry is coming to a close. GiG and its new partner Betsson have gone over all details of their upcoming brand transfer.

As a reminder, in February, GiG announced that its casino brands would go into the hands of Betsson Group. The entire process of transferring brands will be over by the end of April. Below you’ll find more details about the deal.

Divestment of the B2C Vertical

In February, GiG and Betsson Group signed a deal which will see all GiG B2C brands become the property of Betsson. Under the terms of the contract, Betsson agreed to pay €30m plus additional fees.

We also learned that all operators would remain active on the GiG’s platform for the next two years. Among the brands that Betsson acquired are Kaboo, Guts, Thrills, and Rizk casino. 

As this is a major deal, the procedures and papers for the contract finalization took two months to finalize. And now, it seems, the wait is over.

Deal Updates

The latest news about the deal includes that Betsson had to dish out additional €2m to secure GiG’s Spanish license. According to the original deal, the Group only needed to pay for the brands and additional costs of €8.7m.

The process will end by the time we reach May. However, the brands will remain operational on GiG’s platform for the next two years, as agreed by the partners.

The reason why the GiG was selling these highly successful brands is that the company wishes to increase efficiency. The complexity that comes with the brands is something GiG wanted to avoid. Furthermore, the company is refocusing on other areas of business. One of the biggest focus points and a company priority is the expansion in the USA.  

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