Betsson set to finalise GiG B2C assets deal by mid-April
Published 9th April 2020
GiG in February agreed to sell its B2C assets, including the Rizk, Guts, Kaboo and Thrills brands, to Betsson in a deal worth €33.0m (£28.9m/$35.9m).
Betsson and GiG had required approval from certain anti-trust regulatory bodies in order for the deal to go ahead. With this now secured, the deal could close as early as next week.
Under the agreement, Betsson will pay €33.0m on closing, including €2.0m for the cash deposit to secure GiG’s Spanish casino license.
GiG said it would use part of the proceeds to repay a SEK300m bond for the period between 2017 and 2020 bond. With this, GiG said it would be able to strengthen its balance sheet and significantly reduce the financial leverage ratio.