Posted in Industry September 20, 2019
Ellmount Gaming Buys Highroller from GIG for €7m
In the iGaming industry, collaborations and acquisitions are common as companies strive for innovation and success. This year, Ellmount Gaming has made an important acquisition by purchasing Highroller, previously owned by Gaming Innovation Group (GiG). The agreement states that Ellmount Gaming will pay the total cost in installments over the next four years, with the first payment due in March 2020. As part of the deal, Ellmount Gaming will continue to operate the Highroller business using GiG’s platform and services.
This acquisition allows Ellmount Gaming to utilize GiG’s front-end solutions and managed services. Highroller will be operated as a white label under GiG’s license until it can transition to Ellmount’s license once regulatory requirements are met.
Sale as a Business Strategy for GiG
The addition of Highroller to Gaming Innovation Group’s portfolio has been a successful venture. Despite being just two years old, Highroller has contributed significantly to the company’s profits. CEO Robin Reed states that Highroller achieved a three-digit return on investment within its short period of operation. Despite this success, GiG has decided to sell the business to Ellmount Gaming. Reed expresses satisfaction with the sale and excitement for the future of Highroller under new ownership, benefiting from GiG’s suite of products and services.
The decision to sell Highroller aligns with GiG’s strategic plans to solidify market share and boost branding efforts after receiving a license extension from the Swedish Gambling Authority. This move allows the company to focus on select markets, drive profits, and enhance customer engagement and loyalty. Following the divestment of Highroller, GiG will operate four popular online casino brands: Kaboo, Thrills, Guts, and Rizk.
According to CEO Reed, the divestment will lead to increased cash flow, strong B2B partnerships, and Highroller will find the right industry partner to thrive in a highly competitive market.
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