Gaming Innovation Group expands its reach in online gaming with the acquisition of Casinomeister

Rhea-AI Summary

Gaming Innovation Group (GiG) has acquired Casinomeister, an established online casino advocacy and review platform, for €3 million. Casinomeister, known for promoting transparency and fairness in gaming, will continue to operate under its own brand within GiG Media.

This acquisition follows GiG's previous successful integrations of AskGamblers and KaFe Rocks. GiG expects the transaction to boost its market reach and enhance complaint resolution services, promoting player advocacy. CEO Jonas Warrer highlights the alignment in values between Casinomeister and GiG, predicting significant growth and positive financial impact upon full integration.

The deal is set to close in June, with immediate financial benefits anticipated.

Positive

• Acquisition of Casinomeister for €3 million bolsters GiG's portfolio.
• Casinomeister maintains its respected brand within GiG Media, leveraging synergies.
• GiG expects significant growth similar to AskGamblers post-acquisition.
• Immediate positive financial impact anticipated upon deal closure in June.
• Enhanced market reach and optimized complaint resolution services to reinforce player advocacy.

Negative

• No specific financial performance metrics provided for Casinomeister.
• Potential risks in smooth integration into GiG Media operations.

ST JULIANS, Malta, June 3, 2024 /PRNewswire/ -- Gaming Innovation Group Inc. (GiG), a leader in digital marketing and media within the online gaming sector, today announce the strategic acquisition of Casinomeister, a pioneering online casino advocacy and review platform. Casinomeister has been at the forefront of promoting transparency and fairness in gaming over the last 25 years. Following the successful integration of AskGamblers and KaFe Rocks, this acquisition further solidifies GiG Media's commitment to enhancing transparency and improving player services across the online gaming industry, instilling confidence in our values.

Casinomeister will continue to operate under its respected brand within the GiG Media portfolio, preserving its unique voice. By leveraging the synergies between GiG Media and Casinomeister, the business is expected to experience significant growth, similar to the developments seen with AskGamblers after its acquisition. Casinomeister is an authoritative domain, and its addition to the GiG Media portfolio of quality websites will further diversify the Company's business.

Jonas Warrer, CEO of GiG, says: "Casinomeister's renowned dedication to fair play and community support perfectly aligns with our recent acquisition of Askgamblers.com. Together, these platforms will enhance our market reach and optimise the complaint resolution services we provide to the community, reinforcing our position at the forefront of player advocacy."

Bryan Baily, founder of Casinomeister, says: "I have dedicated twenty-six years to building this business, and now it's time to pass the reins to a new, dynamic team who can lead it into the future. This business has been my passion, starting as a hobby website in 1998 and growing into what it is today. I am entrusting this to the most capable team in the industry to continue its mission of advocating for fair play. I have a long history with GiG Media, and I am confident that they will maintain the values and principles that Casinomeister stands for, ensuring a smooth transition and a bright future for the online gaming community."

The transaction is structured as an asset purchase for €3 million. GiG expects to close the transaction in June. The acquisition will have an immediate positive financial impact, expected to increase going forward when fully implemented into GiG Media's operations. 

For more information, please contact:
Jonas Warrer, CEO of GiG, jonas.warrer@gig.com , +45 30788450

About Gaming Innovation Group (GiG)
Gaming Innovation Group is a leading iGaming technology company that provides solutions, products, and services to iGaming Operators. Founded in 2012, Gaming Innovation Group's vision is 'To be the industry-leading platform, sportsbook and media provider delivering world-class solutions to our iGaming partners and their customers.  GiG's mission is to drive sustainable growth and profitability of our partners through product innovation, scalable technology and quality of service. Gaming Innovation Group operates out of Malta and is dual-listed on the Oslo Stock Exchange under the ticker symbol GIG and on Nasdaq Stockholm under GIGSEK. www.gig.com 

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SOURCE Gaming Innovation Group

FAQ

What was the cost of GiG's acquisition of Casinomeister?

GiG acquired Casinomeister for €3 million.

When is the expected closing date for GiG's acquisition of Casinomeister?

GiG expects to close the acquisition in June.

What positive impact is anticipated from GiG's acquisition of Casinomeister?

GiG expects immediate positive financial impact and significant growth upon full integration.

How will Casinomeister operate after its acquisition by GiG?

Casinomeister will continue to operate under its own brand within GiG Media.

What is the strategic importance of Casinomeister's acquisition for GiG?

The acquisition enhances GiG's market reach and optimizes complaint resolution, promoting player advocacy.