GiG Sells Highroller to Focus on Flagship Brands

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GiG Sells Highroller to Focus on Flagship Brands

Gaming Innovation Group today announced that it has decided to offload its B2C brand Highroller to online gaming operator Ellmount Gaming Ltd. in a €7 million deal.

Under the terms of the recently signed agreement between the two companies, Ellmount Gaming will become a B2B customer of GiG and the latter would continue to power the online casino through its Platform Services, Front End solution, and Managed Services.

GiG debuted its proprietary Highroller brand in late 2017. The operation enjoyed an excellent start and has gained strong brand recognition since its inception. According to GiG figures, Highroller generated revenue of €1.4 million during the first half of the year.

The online casino brand will initially operate under GiG’s licenses as part of a long-term white label agreement. It will then be migrated to Ellmount Gaming’s licenses pending regulatory approval.

As mentioned earlier Ellmount Gaming will pay €7 million to acquire GiG’s brand. GiG said that it would receive the payment in monthly installments over the contract period of 48 months starting seven months after the announcement of the deal.

The sale of Highroller is part of GiG’s continued strategy to focus on its flagship B2C brands. After the Highroller divestment, the gambling group will run four iGaming brands – Rizk, Guts, Kaboo, and Thrills, with Rizk being its best performing one.

Turning Rizk into a Tier 1 Casino

Commenting on today’s announcement, GiG CEO Robin Reed said that the sale of High Roller “is a confirmation of our discipline and focus as we are growing Rizk.com to become a Tier 1 casino operator in select markets.”

GiG has previously revealed that part of its growth strategy involves focusing on growing Rizk as a leading brand in certain markets in order to improve “earnings quality and margins through increased customer engagement and loyalty.”

As noted above, Rizk is GiG’s best performing brand. It represents 71% of the group’s overall B2C revenue and recorded a 34% annual growth during the first quarter of the year.

GiG is also looking to further develop its Guts brand as a sports betting operation. Earlier this year the brand went live with GIG’s in-house sportsbook. Guts is currently licensed by the UK Gambling Commission, the Malta Gaming Authority, and the Swedish Gambling Authority.

Mr. Reed added that the sale of Highroller will provide his company “with increased cash flow” to focus on its long-term growth goals, while securing Highroller itself with “the marketing muscle and focus it deserves.”

News about the sale of the casino brand arrived shortly after a new GiG-powered online casino marked its entry into the New Zealand market. Under a previously announced partnership with New Zealand casino operator SkyCity Entertainment Group, GiG and SkyCity’s Maltese subsidiary launched skycitycasino.com to service New Zealand gambling customers.

GiG is providing a platform, casino content, fully-managed services, frond-end development, CRM, and compliance and marketing to SkyCity to operate its first online casino.

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The post GiG Sells Highroller to Focus on Flagship Brands appeared first on Casino News Daily.

 


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