Brief: Gaming Innovation Group Acquires Catena Media's AskGamblers For EUR 45 Mln

Catena AB

15/12/2022 06:27

Dec 15 (Reuters) - Gaming Innovation Group Inc  GIG.OL :
    * GAMING INNOVATION GROUP ACQUIRES ASKGAMBLERS AND RELATED
BRANDS
    * SIGNED AN AGREEMENT TO ACQUIRE CASINO AFFILIATE WEBSITES
ASKGAMBLERS.COM, JOHNSLOTS.COM, NEWCASINOS.COM AND SEVERAL
SMALLER DOMAINS FROM CATENA MEDIA PLC
    * TOTAL CONSIDERATION IS EUR 45 MILLION
    * EUR 20 MILLION WILL BE PAID IN CASH ON CLOSING, EUR 10
MILLION
TWELVE MONTHS AFTER CLOSING AND EUR 15 MILLION BALANCE 24 MONTHS
AFTER CLOSING
    * CLOSING IS EXPECTED IN Q1 2023
    * ACQUIRED WEBSITES GENERATED REVENUE OF EUR 12.9 MILLION IN
FIRST
NINE MONTHS OF 2022 WITH AN EBITDA OF EUR 8.4 MILLION
    * EXPECTS TO HAVE AN EBITDA MARGIN BETWEEN 60-70% FROM
ASSETS
GOING FORWARD
    * ASSETS ARE EXPECTED TO GENERATE AROUND 53.000 FTDS IN 2022
    * FURTHER TO REVENUE GROWTH POTENTIAL, OPERATIONAL SYNERGIES
ARE
EXPECTED TO BE REALISED AFTER ACQUISITION VIA SHARED USE OF
MARKETING TECHNOLOGIES, BUSINESS INTELLIGENCE SYSTEMS AND KEY
FUNCTIONS.

Source text for Eikon:  ID:nObifGCVSa 
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