Gaming Innovation Group offloads Highroller B2C brand for €7m

Gaming Innovation Group (GiG) has agreed a €7m deal to sell its B2C brand Highroller to Swedish operator Ellmount Gaming Limited.

GiG confirmed the sale price would be paid in monthly instalments over the next four years, starting with the first payment in March 2020.

As part of the deal, Ellmount Gaming will become a B2B customer of GiG, continuing to operate the Highroller business using GiG’s platform services, front-end solution and managed services.

The Highroller business will initially be operated as a white label on the GiG licence but will eventually migrate to Ellmount Gaming’s licences following regulatory approval.

GiG CEO Robin Reed said he was pleased with the sale as it had generated a three-digit ROI for GiG, despite only being launched two years ago.

“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,” Reed added.

Ellmount Gaming was among four Swedish licensed operators, including GiG, to have their licences extended to three years following a court case against the Swedish Gambling Authority last month.

GiG has said the decision to sell Highroller was part of a business strategy to focus on Rizk.com in select markets and thereby improve earnings quality and margins, through increased customer engagement and loyalty.”

Following the divestment of Highroller, GiG will operate four brands: Rizk, Guts, Kaboo and Thrills.

“Through this agreement, we gain increased cash flow, a strong B2B partner and Highroller will get the marketing muscle and focus it deserves,” Reed added.