Tag Archive : SALE

GiG Closes Sale of B2C Business to Betsson

Gaming Innovation Group (GiG) on Thursday closed the sale of its B2C brands to online gambling operator Betsson Group in a €33 million deal.

Betsson thus bolstered its multi-brand portfolio with four new assets. The company acquired the Rizk, Guts, Kaboo, and Thrills casino and sports betting brands from GiG.

Under the terms of the sale, all four brands will continue to be operated on GiG’s platform for a minimum period of 30 months. In addition, Betsson has become a long-term partner of GiG and will generate revenues to GiG’s Platform Services.

As mentioned above, Betsson has paid the amount of €33 million for GiG’s B2C operations and related operational assets. The purchase price included €22.3 million in cash payment, €8.7 million in prepaid platform fee, and €2 million in cash deposit securing GiG’s Spanish casino license, which the company obtained in the summer of 2019.

During the first 24 months after the deal was closed, Betsson will pay a premium platform fee based on net gaming revenue. Based on estimates, GiG could collect up to €50 million from the sale of its four B2C brands.

News that GiG has successfully offloaded its B2C business to Betsson emerge a week after the company secured required regulatory approvals to close the deal.

Sale Frees Up Resources for B2B Growth

GiG said that it would use part of the sale proceeds to repay its SEK300 million 2017-2020 bond on April 22, 2020 as this would strengthen its balance sheet and significantly reduce the financial leverage ratio.

As part of the deal, 63 GiG employees were transferred to Betsson. The two companies have also entered into a Transition Service Agreement, under the terms of which GiG will offer services to Betsson to support the operation of the four brands for an initial period. The agreement comprises an additional 54 employees at GiG.

GiG first announced that it would divest its B2C operations to Betsson this past February. The company said back then that the move was prompted by a strategic review of its business and that it would result in reduction of complexity and improved efficiency.

The gambling group will thus free up resources that would enable it to fully focus its attention on “driving and growing its B2B business.” GiG expects stable and sustainable earnings and profit margins from its new strategic focus.

The company said Thursday that it sees “a large and sustainable addressable market for its Media and platform business” as iGaming continues to become a regulated industry in new markets. In addition, GiG believes that it is well positioned with its omni-channel platform offering to capitalize on the “continued digital transformation” of the global gambling market.

Source: Gaming Innovation Group: Completion of the sale of B2C assets to Betsson

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GiG Sale of B2C Business on Track to Close Mid-April

Gaming Innovation Group’s (GiG) sale of its B2C gaming and sports betting brands to Betsson was this week approved by antitrust regulators, enabling the deal to close by mid-April.

GiG announced in mid-February plans to offload its B2C division to Betsson in a bid to focus on its B2B operations. The move would help the company “reduce complexity and improve efficiency.”

Under the terms of the deal, Betsson, which already operates a multi-brand online casino and sports betting portfolio, has agreed to pay €33 million to acquire GiG’s B2C operations. The purchase amount includes €22.3 million in cash payment, €8.7 million in prepaid platform fee, and €2 million in cash deposit securing GiG’s Spanish casino license.

GiG said this week that it would use part of the proceeds from the sale of its B2C operations to repay its SEK300 million 2017-2020 bond, which would help it strengthen its balance sheet and reduce significantly the financial leverage ratio.

GiG’s B2C operations include the Rizk, Guts, Kaboo, and Thrills online casino and sports betting brands. Under the terms of the sale, Betsson will keep all four websites operational on GiG’s proprietary iGaming platform for the first 30 months after the transaction closes.

During the first 24 months, Betsson will pay a premium platform fee based on net gaming revenue generated. Based on estimated platform fees, GiG could trouser up to €50 million from the sale of the four brands.

Freeing Up Resources to Spearhead B2B Growth

GiG has previously explained that its decision to divest its B2C business was a result of a strategic review as the company seeks to “reduce complexity and improve efficiency.”

The online gambling group has also pointed out that the sale of the four iGaming and wagering brands would free up resources and enable it to fully dedicate its attention to driving and growing its B2B business, and thus secure stable and sustainable earnings and profit margins.

According to GiG, there is a “large and sustainable addressable market” for its platform business as iGaming continues to become a regulated industry in more and more countries around the world.

As part of its strategic review, GiG has also decided to make its platform “sportsbook agnostic” and to partner up with betting technology providers in a bid to offer its clients the best possible wagering solutions.

Under the deal for the sale of GiG’s B2C brands, Betsson will integrate its sportsbook solution onto GiG’s platform. As a result, the two companies will be able to sell their B2B solutions without creating conflict in the B2C vertical.

Commenting on their decision to offload their B2C brands, GiG CEO Richard Brown said previously that the deal would enable them to focus on their growth in the B2B sector and that while offering both B2B and B2C products had synergies in the past, the “current conflicting priorities of the two business areas, and increased complexity in the market, have lessened the potential offering on both fronts and our ability to sign new customers.”

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F1® Delta Time starts crate sale for official F1® NFTs of race cars, drivers, driver gear and car components

24 February 2020: Animoca Brands is thrilled to announce that the official crate sale for F1® Delta Time starts on 25 February 2020. Users will be able to buy crates containing officially licensed Formula 1® (F1®) non-fungible tokens (NFTs) of drivers, driver gear, and tyres for use in the game F1® Delta Time. See www.F1DeltaTime.com for details of the crate sale.

Crates in F1® Delta Time are ERC-20 tokens and are available in 4 tiers: Common, Rare, Epic, and Legendary. Purchases can be made using cryptocurrencies such as ETH, DAI, OST, USDC, USDT, and others. Players can choose to open their crates, sell them to other players, or hold on to them for future use. Each tier of crates has a limited supply:

  • Common crates: 2,500
  • Rare crates: 2,000
  • Epic crates: 1,500
  • Legendary crates: 500

Each crate contains 5 NFTs, including race cars, drivers, car components, driver gear, or tyres. The contents of crates are random, with cars and drivers being the rarest to obtain.

In F1® Delta Time there are 5 rarity levels for NFTs: Apex, Legendary, Epic, Rare, and Common, with Apex being the most scarce. The rarity levels of the NFTs in each crate are determined based on the tier of the crate:

  • Common crates: 1 Rare and 4 Common NFTs
  • Rare crates: 2 Common and 3 Rare NFTs
  • Epic crates: 3 Common, 1 Rare, and 1 Epic NFTs
  • Legendary crates: 3 Common, 1 Rare, and 1 Legendary NFTs

Crates can randomly contain an item that is one level higher than the tier of the crate – for example, a Rare crate may contain 2 Common, 2 Rare, and 1 Epic NFTs (instead of the normal 2 Common and 3 Rare NFTs).

Prices, discounts, and referrals
Players can enjoy an early bird discount when buying crates in the first week of the sale, until 2 March 2020. The following table shows the prices of crates (US$) during both weeks of the sale:

Period

Common Crate

Rare Crate

Epic Crate

Legendary Crate

25 Feb – 2 Mar

$18

$36

$135

$450

3 Mar – 9 Mar

$20

$40

$150

$500

Players will receive a 5% discount on every 5th crate purchased from the same rarity tier.

After registering an account at www.F1DeltaTime.com, each player will receive a unique referral link, allowing them to earn 2.5% of the value of any crate purchases that happen through their referral links.

Apex “China Edition 2019” cars lucky draw
Players will receive “Car Tickets” for all crate purchases; the number of car tickets players will receive depends on the tier of crate purchased:

  • Common crate: 1 car ticket
  • Rare crate: 2 car tickets
  • Epic crate: 3 car tickets
  • Legendary crate: 5 car tickets

The car tickets give players a chance to win rare unique cars: three of the cars from the “Four Guardians” collection celebrating Chinese New Year will be randomly awarded to three different players after the crate sale. These cars, named “White Tiger”, “Black Tortoise”, and “Vermillion Bird”, are of the highest rarity level: Apex. The first of the Four Guardians cars – “China Edition 2019 Azure Dragon” – was recently sold at auction for 91 ETH.

The Four Guardians Apex cars will be unlocked upon reaching crate purchase milestones, with the first race car being made available once 2,000 crates are sold, the second car after 4,000 crates are sold, and the third after all 6,500 crates are sold.

A lucky draw will be conducted to determine the winner of each car. The more car tickets a player has, the higher the chance to win one of the Four Guardians Apex cars.

Staking car NFTs to generate in-game currency
In F1® Delta Time, cars are NFTs and will have the ability to generate REV through “staking”, with rarer cars generating higher amounts of REV. REV is an ERC-20 token and the primary in-game currency in F1® Delta Time.

When you choose to stake your car, you temporarily transfer ownership to F1® Delta Time and lose the ability to use, race or trade that car, but you will earn REV based on the period of time that your car is staked. More information is available at https://medium.com/@f1deltatime/f1-delta-time-announcing-nft-staking-15f29b7c0b18.

F1® NFT auctions
F1® Delta Time has previously completed auctions of five unique and official Formula 1® NFTs of the Apex rarity level, starting with the landmark “1-1-1” digital car collectible that sold on 28 May 2019 for a record price of 415.9 ether (worth approximately US$113,000 at the time of sale); this was followed by the “Monaco Edition 2019”, “France Edition 2019”, “Japan Edition 2019” and “China Edition 2019 Azure Dragon” which sold for 387.11 ETH in total.

In addition, F1® Delta Time auctioned the first 10 official F1® team cars in the Pole Position Auction held from 28 November to 1 December 2019, which fetched a total of 121.5172 ether (worth approximately US$18,608 at the time of sale). The team cars were all of the Epic rarity level.

F1® Delta Time
F1® Delta Time is a blockchain game licensed by Formula 1®, developed and published by Animoca Brands. The game consists of a collectible component based on NFTs as well as a racing component utilising those NFTs. The collectible component is available now, and the racing component will launch later in 2020. For more information please visit www.F1DeltaTime.com or join the official Discord channel at https://discord.gg/s6wn7dk.

About Animoca Brands

Animoca Brands (ASX: AB1) leverages gamification, blockchain, and artificial intelligence technologies to develop and publish a broad portfolio of mobile products including games such as The Sandbox, Crazy Kings, and Crazy Defense Heroes as well as products based on popular intellectual properties such as Formula 1®, Garfield, Snoopy, Thomas & Friends™, Ever After High and Doraemon. Animoca Brands’ portfolio of blockchain investments and partnerships includes Lucid Sight, Dapper Labs (creators of CryptoKitties), WAX, Harmony, and Decentraland. The Company is based in Hong Kong, Canada, Finland, and Argentina. For more information visit www.animocabrands.com or get updates by following Animoca Brands on Facebook or Twitter.

Contact: [email protected]

The F1 FORMULA 1 logo, F1 logo, FORMULA 1, F1, FIA FORMULA ONE WORLD CHAMPIONSHIP, GRAND PRIX and related marks are trade marks of Formula One Licensing BV, a Formula 1 company. All rights reserved.

AI In Gaming 2020 and ILPS 2020 20% SALE

SAVE 20% on Delegate Passes for AI In Gaming 2020 and ILPS 2020 – Only until this Friday!!

Calling all AI, Gaming and Lottery stakeholders! Grab the opportunity to save a whopping 20% on delegates passes for the AI In Gaming 2020 and ILPS (International Lottery Play Summit) 2020 summits in Dubai, this month from 26 to 27 February at the Crowne Plaza Dubai!

To take advantage of this great offer, register at

https://www.eventus-international.com/ai-ilps-rego-card  and use the following discount code:

                                                 DUBAIFEBDIS

HURRY as tickets are limited and the offer expires on Friday, 14 February 2020!

Invest in yourself and expand your business; join us at AI In Gaming 2020 and International Lottery Play Summit 2020 and sharpen your knowledge on the latest trends, opportunities and challenges in these two industries.

Contact us now to find out how your company can benefit at AI In Gaming 2020 and ILPS 2020:

Contact Eventus International’s Marketing Director, Lou-Mari Burnett, to grow your business in UAE and beyond with our sponsorship and exhibition packages for AI In Gaming 2020 and ILPS 2020.

Lou-Mari Burnett

Marketing Director 

Eventus International

Email: [email protected]

Phone: +27829075850

Eventus International is a dynamic, summit and exhibition company that connects leaders with leaders and turns opportunity into possibility. We utilise our vast networks and expertise to create forward thinking summits that align best practice and industry development with empowering content and outstanding networking opportunities.

Our summits and exhibitions have a longstanding reputation for gathering primary stakeholders in the industry to discuss the future of the gaming sector. We operate in profitable vertical industries with significant international growth potential while promoting the growth of emerging markets.

Every summit we produce is designed to provide practical solutions to strategic, tactical and technical challenges and shed light on new opportunities in the sector.

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The high standards that we set for ourselves are responsible for the success of events such as the Sports Betting East Africa+, SPiCE India, Sports Betting West Africa+, Cyprus Gaming Show, Scandinavian Gaming Show, AI In Gaming, International Lottery Play Summit, iGaming Germany (iGG), All-in Gaming Ukraine Summit, Gaming & Affiliate Marketing Expo (GAME), Gaming Expo Francophone Africa, ACE (Affiliate Conference & Expo) 2020, Play Social – Social Gaming China and the All American Sports Betting Summit.