Gaming Innovation Group Purchases Major Shares of Top Games from Croatia

Gaming Innovation Group, Inc. (GiG) has signed a share purchase agreement, acquiring 75% of the shares of the Croatian company Top Games.

Top Games d.o.o. qualifies for the remote gambling permit. This agreement allows GiG to push one of their in-house brands into the Croatian market. The deal expands its B2C online gaming offering in the growing market, thanks to the collaborative business model that the deal is based on. The deal also states that both parties will be operating in the ongoing operation of the business.

With 75% of the shares now in possession of GiG, the remaining 25% was retained by the local partner which has a successful history in land-based casino business.

The purchase of the shares was not made by cash but rather on a basis of contribution of resources by the shareholders. The local partner mentioned above will upfront the initial costs and GiG will provide rights of use of brand, a gambling platform and operational expertise.

Plans for 2020

The Group has made plans to enter the online casino market in Croatia thanks to this partnership during the first half of 2020. The Croatian market is regulated, with six licensed casinos operating on the territory. Non-regulated operators and offshore regulators are blocked by IP, which is beneficial for locally regulated online operators. The estimated total value of the gambling gross win in Croatia is €360 million in 2020. Online gambling in the country is subject to a gambling duty of 15%.

Richard Brown, acting CEO of the company says: “I’m excited to further expand our B2C business by entering another regulated jurisdiction. Croatia is a very interesting marketplace for gambling and s 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 ion for providing end s with a safe, responsible and competitive online gambling experience.”

GiG recently signed a deal with Mediacle, in order to expand its reach in emerging markets and in September, it agreed to launch Sportsbook in Hard Rock’s Iowa Casino property.

About:

Serving as a technology company operating in the iGaming industry, the company offers cutting-edge Cloud-based services and Performance Marketing through B2B solutions. The team provides their customers with the technology, solutions and services to create an amazing experience for their respective s. The company is also in ownership of six customer facing brands that offer a gaming experience like no other in the form of casino games, sports betting and poker tables.

The company holds licenses in Malta, the United Kingdom, New Jersey, and Sweden and are in talks with the Danish and Spanish regulators for acquiring licenses.

Source:

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