Gaming Innovation Group sell Highroller Casino
October 22, 2019
Gaming Innovation Group let Highroller go
Following two years in, Gaming Innovation Group (GiG) have decided to let go of its Highroller brand. It was in November 27th, 2017 that GiG announced that they were launching the latest in-house development. With an aim to throw the online gaming into disarray and offer an immersive casino experience like no other. That was going to feature some unique player interactions. And expectations were set high for its release, which was according to sources exceeded in its opening week. However, GiG is now dancing to a different tune and selling the brand to the affiliate and operating Ellmount Gaming Ltd (EGT).
Stil under GiG’s guidance
So how much does it cost to buy a brand already live? Well, in this case, EGT neede to fork out €7 Million to seize control of the brand. Which will find its way to gig over 48 months. Although, GiG will not be fully out of the loop of the brand and its development. As part of the agreement states that EGT will become a B2B client. Which means that Highroller will keep on operating under GiG’s control in front end solution, platform services, and managed services. As well, the brand, even though changing owner will remain under GiG’s license. And operate under a long-term white label agreement until EGT reached regulatory approval.
Why do we see a sell
According to GiG themselves, it’s all inline with their strategy to strengthen its most successful brand, Rizk. And to improve earnings quality and margins, done by increasing customer engagement and loyalty. After letting Highroller go, GiG is left with four brands, Rizk, Guts, Thrills, and Kaboo. Where Rizk is outperforming the rest by far, representing 71% of total B2C revenues. Plus, with Highroller out of the way, GiG will throw more development on its second-biggest brand Guts and its sportsbook betting direction. Finally, Commenting on the recent news is Robin Reed, CEO of GiG. “The sale of Highroller is a confirmation of our discipline and focus as we are growing Rizk to become a Tier 1 casino operator in select markets. Through this agreement, we gain increased cash flow, a strong B2B partner and Highroller will get the marketing muscle and focus it deserves.”