Gaming Innovation Group Inc. (GiG) has signed an agreement to acquire iGaming company Sportnco in a deal first announced in December. The plan will include the issuance of new shares to Sportnco shareholders and SkyCity Entertainment Group Ltd.
Sportnco is a leading platform providers of turnkey betting and gaming solutions for operators in regulated markets through its in-house developed sportsbook and player account management system PAM. According to a news release, the combined company will enhance and strengthen GiG’s position as one of the industry leading platforms and media providers with innovative and proprietary products and creating one of the largest and fastest growing providers in regulated iGaming with an unparalleled regulated geographical footprint.
Sportnco has international presence and operates as a leading B2B supplier in France and Spain and is active in other European jurisdictions such as Belgium, Portugal and Greece, as well as in several high-growth Latin American markets. It is also well-positioned to enter the U.S. sportsbook market.
“It is with tremendous excitement that we now step forward into the next chapter in GiG’s history,” said GiG CEO Richard Brown. “The team at Sportnco have built a tremendous business, one that is highly complementary to GIG’s offering both in product but also addressable market increase, and now the work begins to realize the truly existing growth opportunities that the business combination can pursue. We welcome both the owners of Sportnco and SkyCity as shareholders and the staff of Sportnco into GiG organization and now move forward with full focus on the execution of the post-merger integration plan.”
Hervé Schlosser, CEO and founder of Sportnco, added, “Together with all the teams and shareholders who have built the success of Sportnco and Tecnalis, we are extremely proud of the journey we have accomplished since 2008, and of our integration today into the GIG group. I look forward to opening this new chapter as I am confident that, together, we will offer stronger technology solutions for our customers in the fast-growing regulated markets.”
Sportnco’s geographical presence complements GiG’s current offering. Together, they will be licensed in 25 markets, currently with around 55 clients. Through the acquisition, GiG has increased both short- and long-term addressable markets meaningfully. Sportnco’s tier 1 sportsbook product is strong, and the acquisition is expected to create attractive commercial, operational, and technological synergies, as well as enable cost savings and accelerated growth.
