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Gaming Innovation Group acquires Sportnco

Gaming Innovation Group acquires Sportnco

GiG moves market position with Sportnco acquisition

Gaming Innovation Group (GiG) has confirmed its acquisition of Sportnco, with the aim of strengthening its status as a platform and media provider to the betting and gaming industry. 

Full completion of GiG’s takeover of turnkey betting and gaming solutions provider is expected in February 2022, and will enable GiG to leverage the company’s in-house developed sportsbook and PAM products.

The total consideration is set at €50.8 million, of which €23.5 million will be paid in new shares in GiG and €27.3 million in cash. Additionally, GiG will assume existing debt in Sportnco of €19.2 million, whilst there will also be an earn-out option of up to €23 million based on the new acquisition’s 2022 and 2023 performance.

ortnco, which earlier this week rebranded from France Pari to reflect its B2B focus, provides turnkey betting and gaming solutions to operators in regulated markets, with proprietary sportsbook and player account management solutions. 

It has a strong presence in its native France, and has also expanded into markets such as Peru, Spain, and Greece. It is partnered with high profile brands such as Betway, NetBet, Casino Gran Madrid, Casino Barcelona, and Peru’s Casino Atlantic City and Olimpo. 

It expects to generate revenue in excess of €9m for 2021, with earnings before interest, tax, depreciation and amortisation of around €5m. 

GiG said the combined company would strengthen its position as a leading platform and media providers, with an “unparalleled” geographical footprint. Once the deal closes, GiG and Sportnco will be licensed in 25 markets, with around 55 clients.