GiG Completes KaFe Rocks Acquisition and Targets North American Expansion
Date: 2023-12-22 Author: Dima Zakharov Categories: GAMING
GiG Expands Its Reach
Gaming Innovation Group (GiG) has set its sights on North American expansion with the completion of its acquisition of KaFe Rocks, an affiliate group boasting more than 30 brands across 20 markets. The €35 million deal, which includes an upfront cash payment of €15 million, marks a significant move for GiG.
Strengthening in North America
This acquisition comes on the heels of GiG's purchase of AskGamblers in January 2023, solidifying GiG Media's position in the online casino affiliation sector, particularly in North America. The company plans to divide into two separate entities, GiG Media and Platform & Sportsbook, in the first half of 2024.
Diversifying the Business
GiG's strategic goal is to diversify GiG Media's business, mitigating risk by expanding its customer base, websites, and markets. The synergy between GiG and KaFe Rocks is expected to generate a minimum revenue of €23 million in 2024, with a promising EBITDA margin exceeding 45%.
A Bright Future Ahead
Jonas Warrer, GiG's CEO, expressed excitement about the acquisition, emphasizing GiG's commitment to becoming a leading casino affiliate in the industry. KaFe Rocks' inclusion aligns perfectly with this vision, promising additional value for partners and investors.
KaFe Rocks' Optimism
KaFe Rocks welcomed the acquisition, seeing it as a significant milestone. The spokesperson for KaFe Rocks, Aimee Speight, highlighted GiG Media's strong performance over the years and the optimistic outlook for KaFe Rocks' future under its new ownership.
A Strategic Move
GiG's decision to split into two entities was driven by a strategic review launched in February. The separation will involve GiG Media's affiliate arm and Platform & Sportsbook divisions becoming independent entities. GiG's expansion in North America and continued strategic moves position the company for new beginnings and growth in the online gaming industry.
