GiG, which expects to close the Casinomeister acquisition this month, says the deal will have an immediate positive financial impact. This, GiG adds, is set to increase going forward when fully implemented into GiG Media’s operations.
Under the agreement, Casinomeister will continue to operate under its current brand within the GiG Media portfolio. Casinomeister has been active for more than 25 years, with GiG saying the acquisition will further diversify its business.
GiG added that it will leverage the synergies between GiG Media and Casinomeister, with the aim of achieving similar developments seen with AskGamblers after its acquisition.
The group purchased AskGamblers in February 2023 and also acquired KaFe Rocks at the end of last year. By taking on Casinomeister, GiG says this further solidifies GiG Media’s commitment to improving transparency and player services in igaming.
Casinomeister in capable hands
“Casinomeister’s renowned dedication to fair play and community support perfectly aligns with our recent acquisition of Askgamblers.com,” GiG CEO Jonas Warrer said.
“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.”
Casinomeister founder Bryan Baily added: “This business has been my passion, starting as a hobby website in 1998 and growing into what it is today. I’ve dedicated 26 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.
“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.”
GIG adds another string to its expanding bow
The acquisition represents yet another development at GiG. Just last week, the group rolled out SweepX, a social sweepstakes casino platform solution aimed at the US.
SweepX offers dual-wallet, store management for redemptions and prize rewards, together with AI-assisted content management technology from GiG.
Accompanying the launch is a new binding head of terms for a strategic partnership with Primero Games. Under the deal, GiG will power the operator’s expansion into the online social sweepstakes casino market.
Primero Games develops casino software and equipment for the gaming industry. It runs more than 50,000 sweepstakes machines across the US and owns UK retail operator and content studio Storm Games.
Split to succeed
Against this backdrop, work continues to push ahead with a planned business split. As set out by chairman Petter Nylander when GiG published its Q1 results this month, this is due to complete by Q3.
Announced early last year, the split will see GiG Media and Platform and Sportsbook become separate businesses. With work still ongoing, GiG reported Q1 with the business as a whole to allow for year-on-year comparisons.
Group-wide revenue in Q1 jumped 27.5% to a record €36.2m. Of this, €28.0m came from GiG Media and Platform and Sportsbook €8.3m.
Original article: https://igamingbusiness.com/strategy/ma/gig-confirms-strategic-acquisition-of-casinomeister/
