Gaming Innovation Group Inc is a public company headquartered in Malta that offers business to consumer casino, sports betting and poker services through its various online gaming websites. Recently the company has got an agreement to relieve its B2C brand High roller to associate and operator Ellmount Gaming Ltd. for a total price of €7 million. Ellmount Gaming will as part of the deal become a B2B customer of the Gaming Innovation Group and remain to operate High roller using the company’s Platform Services, Front End solution and Managed Services.
The Gaming Company will take the payment on monthly basis over the contract period of 48 months, starting seven months after this date.
High roller will initially remain as a hand under GiG’s licenses with a long-standing white label agreement and is planned to be migrated to Ellmount Gaming’s licenses following monitoring agreement. The Gaming company assumes positive input from High roller under the new holder.
High roller was an unshared brand of Gaming Innovation Group, launched in December 2017 with a positive start and a solid brand credit. From January till June of 2019, High roller had returns of €1.4 million with an EBITDA (earnings before interest, taxes, depreciation and amortization) of €-0.2 million.
This extricate is part of GiG’s strategy to rise brand equity for online gaming company Rizk.Com in the gaming club category in certain markets, in order to improve incomes quality and limits, through increased customer assignation and loyalty.
After this divestment, Gaming Innovation Group will function with four brands: Rizk, Guts, Kaboo and Thrills. The Rizk brand is the best performing brand and signifies 71% of total B2C profits with annual development of 34% (Q1 2019). The second largest brand is Guts, which will be further settled as a sports betting brand.
Chief Executive Officer of Gaming innovation Group, Robin Reed says:
“The sale of Highroller is a confirmation of our discipline and focus as we are growing Rizk.Com to become a Tier 1 casino operator in select markets. Through this agreement, we gain increased cash flow, a strong B2B partner and Highroller will get the marketing muscle and focus it deserves. The brand was launched only two years ago and with this sale, it has returned three-digit ROI for GiG. I am looking forward to seeing the brand prosper in the hands of very capable owners, empowered by our full suite of products and services.”