Gaming Innovation Group and its subsidiary, Innovation Labs, have agreed to acquire the affiliate website casinotopsonline.com for €11.5m.
This is Innovation Labs’ largest acquisition to date and will significantly strengthen its position as a leading affiliate in Europe.
The acquisition includes the website and all related assets. Current yearly revenue run-rate of the acquired assets is approximately €3m, with an EBIT margin in excess of 90 per cent.
Robin Reed, CEO of GIG, said: “The aim of GIG is to build the largest distribution network in i-gaming for our clients and suppliers, and as such creating an ecosystem for i-gaming. This acquisition is our largest in the affiliate space to date and will significantly increase our traffic driving capability.”
This acquisition further enhances Innovation Labs’ position outside Scandinavia and in regulated markets such as the UK. GIG expects to increase revenues from the website by 25 per cent short term, with a significant long term potential through including it in Innovation Labs operations, which will “generate cost and revenue synergies.”
“I am very excited about GIG taking this product further, and look forward to help them achieve the goals and vision for this unique project,” said Mihail Todorov, CEO of casinotopsonline.com.