Gaming Innovation Group Enters Croatian Gaming Market Via Acquisition Deal

Gaming Innovation Group (GiG) has just accomplished a purchase deal to enter the Croatian gaming Market. As part of the agreement, the company will obtain 75% of Shares of Croatian enterprise Top Games d.o.o.

The recent agreement is based on the partnership model which expands GiG’s offer in the market. After the successful conclusion of the deal, both companies will contribute to the local gaming sector.

More Details

GIG’s goal is to acquire 75% shares of Top Games while the rest of 25% will remain in the hands of a local operator who has recorded tremendous success in land-based operation.

It has provided payment resources from the company’s shareholders with no cash included. The initial costs will be taken by the local company while the operator will enable the Croatian operator to use its gambling platform, expertise, and brand.

According to the developer’s plans, an official entry to the Croatian online market will be completed in the first half of 2020. As soon as it enters the local market, it expects a modest increase in revenues with additional resources to come in the second half of the year.

About the Market

Croatia is a regulated casino market with five licensed online casino operators. It includes 4.1 million population and even better expansion possibilities. The nation controls the operation of unauthorized partners and regularly blocks online operators including IP blocking of offshore and unapproved companies. According to estimations, the country will reach €360 million gambling gross value until 2020. Online Gambling is followed by a 15% tax rate in the country.

Official Statement

Acting CEO of GiG, Richard Brown, commented on the recent expansion:

“I’m excited to further expand our B2C business by entering another regulated jurisdiction. Croatia is a very interesting marketplace for gambling and supports our strategy to grow our own brands in high potential and regulated markets. GiG has a track record of creating responsible gaming experiences with a captivating UX. This is a good opportunity to showcase the strength of our online casino offering and our passion for providing end users with a safe, responsible and competitive online gambling experience.”

The final approval of gaming transaction should be given from the local regulatory body.

GiG Mission

The developer is a successful company that provides iGaming solutions and products. The enterprise was established in 2012 with a mission ‘To open up iGaming and make it fair and fun for all.’ It connects operators, producers, and customers to develop premium iGaming products in the market. The company is listed both on Stockholm and Oslo Stock Exchange.

Source:

“Gaming Innovation Group to enter the Croatian market through majority share acquisition“, gig.com, October 22, 2019