Betsson set to finalise GiG B2C assets deal by mid-April

Betsson set to finalise GiG B2C assets deal by mid-April

Betsson Group has secured approval from anti-trust regulators to proceed with its planned acquisition of Gaming Innovation Group’s (GiG) B2C assets, with the deal now set to go through by the middle of 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.

Read the full story on iGB.

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