GiG acquires Nordbet
News on 26 Mar 2018
News on 26 Mar 2018
Gaming Innovation Group Inc. (GIG) has entered into a formal acquisition agreement for Nordbet, an inactive company with no assets except for a Schleswig-Holstein sportsbetting license, for a Euro 500,000 consideration.
The acquisition of Nordbet strengthens GIG’s access to the German market through the Schleswig-Holstein sportsbetting license which enables the company to integrate with the larger payment providers making its sports and casino offering more available to German end-users.
The sports betting licence will be valid until February 2019, with potential for extension following this period, the company said.
“We have high ambitions for our sports betting offering,” GIG CEO, Robin Reed, said. “These are being accelerated by the launch of three new B2B products for sports betting in H1 2018.
“Combining these sports betting services with preferred payment providers, makes GIG’s sports offering in Germany very competitive ahead of the FIFA World Cup in June 2018.”
