Malta-based Gaming Innovation Group (GIG) and its subsidiary Innovation Labs have acknowledged a deal to obtain the affiliate website Casinotopsonline.com for €11.5 million.
GIG stated that this acquisition, which is their largest to date, will significantly strengthen its position as a leading affiliate in Europe. Their vision is to make the iGaming industry “an open and connected ecosystem for the benefit of all” and this acquisition is in keeping with that vision.
The agreement will include the website Casinotopsonline.com along with all related assets. The acquired assets current yearly revenue run-rate is around €3 million and an EBIT margin over 90%.
It is expected that this purchase will increase annual referred first-time depositors by approximately 25,000 and further enhance Innovation Labs’ position outside of Scandinavia and regulated markets like the UK.
CEO of GIG Robin Eirik Reed stated: “The aim of GIG is to build the largest distribution network in iGaming for our clients and suppliers, and as such creating an eco-system for iGaming. This acquisition is our largest in the affiliate space till date and will significantly increase Our traffic driving capability. More so it was done facing stiff competition, at an attractive multiple of four on current revenue run-rate, excluding potential cost and revenue synergies. We are delighted to acquire casinotopsonline.com.”
CEO of Casinotopsonline.com Mihail Todorov also had this to say: “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.”