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GIG acquires Magenta Media

GIG ACQUIRES SWEDISH AFFILIATE NETWORK

Acquisition strengthens GIG’s lead generation business.

Gaming Innovation Group Inc. (GIG) has acquired the assets of a Swedish-based affiliate network from Magenta Media in a deal that includes a four-figured number of referral sites, an experienced team of Search Engine Optimization (SEO) experts and recurring revenues from the existing portfolio of affiliate accounts with partnering operators.

The mainly Swedish casino market-focused network further strengthens the firm as a lead generation company for the online gambling sector, GIG said.

GIG expects to increase operating profit by around Euro 1 million on a 12 month rolling basis through increased activity and synergies with its existing Innovation Labs affiliate operation.

Following completion of the acquisition, Innovation Labs expects to generate more than 45,000 New Depositing Customers to B2B clients and GIG’s own operators on a yearly basis.

“We are happy to conclude the acquisition of a growing, high value affiliate network which will enhance Innovation Labs’ position in referring paying users in the Swedish casino market,” Robin Reed, chief executive officer of GIG said in a press statement. 

A consideration of SEK 47.5 million was agreed, of which SEK 32 million will be settled with new GIG shares. A further one million options will be issued to the employees at closing on terms to be defined.

GIG’s Innovation Labs is essentially an iGaming-focused online marketing firm that refers paying users to B2B clients primarily on perpetual revenue share agreements.

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Gambling News :

Jack Lam on the Run - "Our records also showed Lam arrived in Manila last Nov. 25 aboard a China Airlines flight from Taipei, she said, observing that there was no record of any return to the Philippines since his departure.

Golden Jungle Slot - IGT is about to launch online its popular land casino slot Golden Jungle, adding yet another jungle-and-temple themed game to the dozens already available to internet and mobile punters.

Philippines president Orders Arrest of Jack Lam casino magnate - Rodrigo Duterte, the shoot-from-the-hip Philippines president, has intervened in the fast-moving bribery scandal involving his Justice Secretary Vitaliano Aguirre, Pagcor chief Andrea Domingo and Macau-based casino magnate Jack Lam

South Africa Going After Illegal Gambling - In South Africa a combined national police and federal enforcement initiative has shuttered 19 illegal gambling venues across the provinces of Northern Cape and North West.

The Winning Express arbitrage sports betting scheme - A UK-based GBP 27 million arbitrage sports betting scheme, The Winning Express, has collapsed, leaving a thousand investors with concerns that their money is lost, according to a BBC report over the weekend.

Global Poker League Championship Results - #gpl The inaugural season of the Global Poker League Championship played out this week with the Montreal Nationals besting the Berlin Bears across 11 games to claim the $100,000 main prize.

Yahoo DFS Gets Uk License - #yahoo Industry observers point out that Yahoo has thus far carried out little in the way of major marketing on DFS in its US endeavors, unlike rivals DraftKings and FanDuel, and they expect it to follow a similar path in the Britain.

SPANISH GAMBLING MARKET CONTINUES TO GROW - Spain's gambling industry continued to advance in 2015 with growth in most sectors, according to the latest research report from the Codere - University of Madrid Institute for Policy and Governance collaboration released this week.

Novomatic Acquires Albanian National Lottery - #Novomatic The Austrian gaming technology group Novomatic has issued a statement confirming that it has completed the final required steps for the successful acquisition of the Albanian National Lottery.

2016 Massachusetts Gaming Commission Report - Industry journalist Steve Ruddock picked up on some interesting statistics from the latest annual report of the Massachusetts Gaming Commission released this week, flagging the current results from its on-going monitoring research of the state gambling market.

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