GIG completes largest affiliate acquisition to date

Gaming Innovation Group (GIG) has acquired Casinotopsonline.com for €11.5m via its Innovation Labs subsidiary, marking the company’s largest affiliate acquisition to date.

The deal, which is expected to close next month, includes the Casinotopsonline.com and all related assets, which combined has a current annual revenue run-rate of €3m and an EBIT margin of more than 90%.

“The aim of GIG is to build the largest distribution network in iGaming for our clients and suppliers, and as such creating an ecosystem for iGaming,” GIG CEO, Robin Reed, said.

“This acquisition is our largest in the affiliate space [to] date and will significantly increase our traffic driving capability.

“More so it was done facing stiff competition, at an attractive multiple of four on current revenue run-rate, excluding potential cost and revenue synergies.”

According to a statement, the deal will help strengthen Innovation Labs’ position outside Scandinavia and other regulated markets such as the UK, as well as increasing annual referred FTDs by approximately 25,000.

Mihail Todorov, CEO of Casinotopsonline, added: “I am very excited about GIG taking this product further, and look forward to help them achieve the goals and vision for this unique project.”