Betsson'a 50 Milyonluk Bir Anlaşma İle GiG'in Casino Markalarını Satması

Gaming Innovation Group Inc (GiG) has recently agreed to sell a few of its casino brands to Betsson Group in a deal that is worth 50 million. Additionally, 65 employees will be transferred to Betsson following the completion of this deal, with Times of Malta confirming the news. GiG Chief Financial Officer Justin Psaila reassured that the affected employees would retain their work contracts as Betsson had bought them as part of the agreement. He stated that there would not be any redundancies resulting from this take-over. The Share Purchase Agreement between the two companies will include an initial payment of €223 million in cash and a prepaid platform fee of €87 million from GiG, totalling to €31 million. Betsson will keep the business-to-consumer brands operating for a minimum of 30 months and will generate revenues for GiG's platform services. As an additional compensation, Betsson will pay a premium platform fee on the revenues generated by these brands, taking the total cost to around €50 million. In the previous month, GiG acknowledged that they were going through a strategic review of their business, despite denying rumours around downsizing and possibly relocating from Malta. The strategic review was initiated in November, and this deal is a part of that plan.

GiG highlighted that this move has enabled them to redirect resources towards their B2B business with the aim of securing stable and sustainable earnings and profit margins.