GIG assumes German licence through Nordbet acquisition
Gaming Innovation Group (GIG) is targeting expansion in Germany following the purchase of sports betting company Nordbet.
Through the €500,000 ($625,000) deal, GIG will assume the currently inactive company’s sports betting licence in the German state of Schleswig-Holstein. RB Capital were the sell-side advisors on the transaction.
The gaming technology company said in a statement that the licence, which is valid until February 2019, will enable it to integrate with the larger payment providers, making its sports and casino offering more available to German end-users. The licence will thus strengthen GIG’s overall offering in Germany’s €5.3bn online sports betting market.
Robin Reed, GIG’s chief executive, said: “We have high ambitions for our sports betting offering.
“These are being accelerated by the launch of three new B2B products for sports betting in H1 2018.
“Combining these sports betting services with preferred payment providers, makes GIG’s sports offering in Germany very competitive ahead of the FIFA World Cup in June 2018.”
GIG recently posted record annual results with treble-digit growth in revenue and earnings.
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