GiG acquires Askgamblers, JohnSlots and NewCasinos for €45 million

GiG acquires Askgamblers, JohnSlots and NewCasinos for €45 million

Don't gamble with money you cannot afford to lose


The Nasdaq Stockholm listed Gaming Innovation Group Inc. (GiG) has acquired the casino affiliate websites,, and several smaller domains from Catena Media Plc. for 45 million EUR.

20 million EUR will be paid in cash when the deal is closed, 10 million EUR twelve months after closing and the remaining 15 million EUR 24 months after closing. The deal is expected to be closed in the first quarter of 2023. is an award winning website recognised as a well-trusted website source in the iGaming industry with strong brand recognition by users. and build on GiG Media’s strategy to diversify its business. With this acquisition, GiG Media cements its position in the industry as the leading casino affiliate.

“GiG is extremely excited to take over the premium AskGamblers brand from Catena”, Richard Brown, Chief Executive Officer of Gaming Innovation Group said. “Combining the assets with GiG’s media technology and operational capabilities, provides us with a great opportunity to expand our global reach and to deliver a path for the brand to continue with its strong evolution. The expansion of our strategic position in conjunction with the deal structure gives the group another great blueprint for growth. We look forward to integrating the assets and current staff into Gaming Innovation Group.”

The acquired websites generated revenue of EUR 12.9 million in the first nine months of 2022 with an EBITDA of EUR 8.4 million. GiG expects to have an EBITDA margin between 60-70% from the assets going forward. The assets are expected to generate around 53.000 FTDs in 2022.

“Today’s agreement is a major step in our journey to focus the business on online sports betting and casino affiliation in high-growth, regulated markets in the Americas”, Michael Daly CEO of Catena Media said on his part. “I am confident that in GiG we have found a buyer that will provide a strong environment for AskGamblers and the other brands and their talented people to develop and grow.”

The acquisition will diversify GiG Media’s business further in line with the strategy to create sustainable long-term growth and provide the business with several key strategic assets and multiple revenue opportunities.

“After three years of consolidating and expanding the GiG Media business – realising strong annual organic growth – the time was ripe to act when this acquisition opportunity emerged”, Morten Hillestad, Director of Business Development in GiG Media said. “GiG Media has developed world class marketing technology and operational capabilities over the preceding years, and we feel that bringing the AskGamblers brand into the company structure will provide multiple opportunities for it to flourish.”

The acquired websites are strong in markets that currently are non-core markets for GiG Media, therefore expanding our current geographical reach. Further to the revenue growth potential, operational synergies are expected to be realised after the acquisition via the shared use of marketing technologies, business intelligence systems and key functions.

“We are very pleased to welcome quality websites such as into the business and look forward to integrating with the skilled teams that have built up the websites acquired.”, Jonas Warrer, Managing Director of GiG Media said. “We want to be the leading casino affiliate in the” industry, and this acquisition cements our position.”

The transaction is structured by way of a Share Purchase Agreement (SPA) with GiG’s subsidiary Innovation Labs Ltd. (part of GiG Media) and includes the acquisition of the two companies Catena Publishing Ltd (Malta) and Catena Media D.O.O. Beograd (Serbia). These companies currently employ around 90 people.

GiG will finance the initial consideration through a combination of own cash, a revolving credit facility (RCF) and a share issue. Existing shareholders have committed to participate in the share issue and the RCF, securing sufficient financing to complete the transaction at closing.

Gaming Innovation Group Inc. is a full service iGaming company offering cloud based product and platform services and performance marketing to its B2B partners. The company is listed on the Oslo Stock Exchange under the ticker symbol “GIG” and on Nasdaq Stockholm under the ticker symbol “GIGSEK”.

In April 2022, GiG announced the completion of a €51.5m acquisition of online sports betting provider Sportnco to complement both companies existing commercial profiles and offer significantly increased capacity for expansion into short- and long-term addressable markets.

Top Forex Brokers

BrokerCountryRatingMin. DepositWebsite
--- Click for a special offerWebsite
--- Click for a special offerWebsite

Leave a Reply

Your email address will not be published. Required fields are marked *