Gaming Innovation Group completes acquisition of AskGamblers

(PRESS RELEASE) -- Gaming Innovation Group Inc. signed an agreement to acquire the casino affiliate websites Askgamblers.com, Johnslots.com, Newcasinos.com and several smaller domains from Catena Media Plc., ref. announcement from GiG on 15 December 2022. GiG has today completed the acquisition and will consolidate these assets as from today.

GiG Media is eagerly anticipating the operational and commercial opportunities of the well-regarded affiliate website AskGamblers, now that the transaction has closed. Management is focused on elevating the performance of this asset and has a clear strategy in place to implement GiG Media's innovative technical SEO and marketing technology, along with Askgamblers' extensive knowledge. GiG aims to drive substantial growth and maximize profitability through renewed focus on the Askgamblers domain, with the goal of increasing revenue and EBITDA in the near future.

"We are thrilled to add another top casino affiliate site to our portfolio, and believe it holds immense growth potential,” said Richard Brown, CEO of GiG. “The acquisition also broadens our geographical footprint and increases revenue diversity both geographically and client wise, reducing the overall operational risk."

The transaction is carried out through a share purchase by Innovation Labs Limited (GiG Subsidiary) of the totality of the issued shares of Catena Publishing Limited and Catena Media doo Beograd. The consideration (on a cash free and debt free basis) is €45,000,000, of which €20,000,000 is paid today with the remaining balance to be paid in two installments on 31 January 2024 (€10 million) and 31 January 2025 (€15 million).