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Gaming Innovation Group completes acquisition of Sportnco
Gaming Innovation Group Inc. signed a Share Purchase Agreement (“SPA”) to acquire the iGaming company Sportnco Gaming SAS on 22 December 2021. GiG has received the necessary approvals from relevant authorities, and GiG’s Board of Directors has resolved to complete the acquisition, hereunder to issue new shares to the shareholders of Sportnco and to SkyCity Entertainment Group Limited (“SkyCity”).
GiG acquires 100% of the shares in Sportnco Gaming SAS for a consideration of €51.37 million, whereof €27.87 million has been paid in cash and €23.50 million in 12,623,400 new shares in GiG at a share price of NOK 18.08, equal to the VWAP of the GiG share for the past ten days of trading. In addition, Sportnco will retain €18.63 million of its existing long-term loans.
GiG also entered into an agreement with SkyCity in December 2021, whereby SkyCity invests €25 million in GiG through a directed share issue at NOK 18.00 per share, equal to 13,487,500 new GiG shares, financing the main part of the cash consideration to the shareholders of Sportnco.
GiG issues 26,110,900 new shares to the shareholders of Sportnco and SkyCity, increasing the number of outstanding shares from 96,675,626 to 122,786,526. The shares issued to the shareholders of Sportnco are subject to a 6-month lock-up period.
Sportnco has 84 shareholders whereof the largest being its CEO and founder Hervé Schlosser (15.6%), Olivier Marchal, President at Bain&Co France (9.1%) and BNP Paribas Développment (6.6%), and these will hold 1.60%, 0.93% and 0.67% respectively in GiG. SkyCity will hold 10.98% in GiG.
In addition, the shareholders of Sportnco are entitled to a two year earn-out based on the performance in 2022 and 2023 with up to €11.5 million per year. The earn-out will be paid 50% in cash and 50% in new shares in GiG, where the number of shares to be issued shall be based on a 10-day VWAP of the GiG share at the time of payment, expected in April 2023 and April 2024. Further, to keep key employees in Sportnco, a 3-year option program will be entered into, whereby the option holders, pending continued employment, will receive shares in GiG at future VWAP valuation up to a total aggregate value of €4 million.
The combined company
Sportnco is one of the leading platform providers of turnkey betting and gaming solutions for operators in regulated markets through its inhouse developed sportsbook and PAM. The combined company will enhance and strengthen GiG’s position as one of the industry leading platforms and media providers with innovative and proprietary products and creating one of the largest and fastest growing providers in regulated iGaming with an unparalleled regulated geographical footprint.
Sportnco has international presence and operates as a leading B2B supplier in France and Spain and is active in other European jurisdictions such as Belgium, Portugal, and Greece, as well as in several high growth Latin American markets and is well positioned to enter the US sportsbook lead states. Sportnco’s geographical presence is highly complementary to GiG’s current offering and combined, GiG and Sportnco will be licensed in 25 markets, currently with around 55 clients. Through the acquisition, GiG has increased both short- and long-term addressable markets meaningfully. Sportnco’s tier 1 sportsbook product is strong, and the acquisition is expected to create attractive commercial, operational, and technological synergies, as well as enable cost savings and accelerated growth.
The combined company will have increased profitability, value proposition with ever increasing growth prospects and further diversification of revenue and geographical reach.
Outlook
With the acquisition of Sportnco, GiG strengthens its position in the platform and sports segments of the iGaming industry and will have multiple possibilities going forward by increasing its product portfolio driving toward a profitable and cash generating business segment. GiG’s Media Services has seen a strong performance over the last two years, delivering high growth levels, increasing diversity of earnings and healthy cash-flow. For the full year 2022, the combined operations should generate revenues of €87-93 million with an EBITDA of €30-35 million. The Board of Directors will have a strong focus on overall operations, including the post-merger integration of Sportnco, and will continue to look at possible strategic options to increase shareholder value going forward.
Richard Brown, CEO of GiG said: “It is with tremendous excitement that we now step forward into the next chapter in GiG’s history. The team at Sportnco have built a tremendous business, one that is highly complementary to GIG’s offering both in product but also addressable market increase, and now the work begins to realise the truly existing growth opportunities that the business combination can pursue. We welcome both the owners of Sportnco & SkyCity as shareholders and the staff of Sportnco into GiG organisation and now move forward with full focus on the execution of the post-merger integration plan.”
Hervé Schlosser, CEO and founder of Sportnco, said “Together with all the teams and shareholders who have built the success of Sportnco and Tecnalis, we are extremely proud of the journey we have accomplished since 2008, and of our integration today into the GIG group. I look forward to opening this new chapter as I am confident that, together, we will offer stronger technology solutions for our customers in the fast-growing regulated markets.”

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ReferOn Shortlisted for Acquisition & Retention Partner of the Year at SBC Lisbon 2025
ReferOn, a next-gen affiliate management platform, has officially been nominated for the “Acquisition & Retention Partner (Supplier)” category at SBC Lisbon 2025, cementing its position as a key partner for operators and affiliate teams.
This shortlisting highlights the platform’s rapid growth in 2025 due to its developments that address real problems affiliate managers face, a passionate product-minded team, and ambitious plans to empower users in the affiliate marketing industry.
ReferOn challenges legacy platforms by creating a simple and accessible system built for modern needs and placing affiliate marketing at the forefront of growth strategy. Key features such as full-cycle automation, customisable dashboards and reports in pivot-style format, instant postbacks, and real-time data visibility reduce chaos and bring clarity to operations, ultimately boosting performance. Additionally, powerful tools like the Sub-Affiliate System, No Bundling Model, and dynamic variables provide managers with increased control.
Vlad Bondarenko, ReferOn’s Head of Product, commented on the nomination, “Acquisition and retention aren’t just buzzwords to keep affiliates happy. They’re real benchmarks that help our users drive growth and scale. The ReferOn team has proudly built a platform that gives affiliate managers real control, clarity, and speed over their operations to help achieve their
goals. This nomination reflects our efforts and how far we’ve come regarding pushing the industry forward and challenging the status quo.”
The nomination for the “Acquisition & Retention Partner (Supplier)” category bolsters ReferOn’s roadmap and growth trajectory. Going forward, the team will continue to invest in impactful product developments and customer-facing services to become the leading platform for affiliate managers.
Key ReferOn members will be in attendance at the SBC Lisbon Awards 2025 ceremony on September 18 for a night celebrating excellence and innovation.
The post ReferOn Shortlisted for Acquisition & Retention Partner of the Year at SBC Lisbon 2025 appeared first on European Gaming Industry News.
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Here We Go… Betway Scores announces Fabrizio Romano as their first global ambassador
Betway Scores, the popular live sports scoring app, has today announced that renowned Italian football journalist Fabrizio Romano has become their first global ambassador.
Famous for his unmatched reliability in football transfer news and his signature phrase “Here We Go”, Romano has built a vast and loyal following across social media, becoming one of the most trusted sources in the sport. With over 100 million followers worldwide, his influence spans the entire football community—from fans to players, clubs, and agents.
In his new role, Romano will regularly provide exclusive updates and insights around the biggest football stories, bringing Betway Scores users closer to the action through his expert commentary. His content will be featured in the app as well as on Betway Scores’ official channels.
Commenting on his appointment, Fabrizio Romano said:
“I’m excited to be joining Betway Scores as a global ambassador. I look forward to sharing the latest football news and updates. I’m ready to bring interesting insights to Betway Scores users throughout the year.”
A Betway Scores spokesperson, added:
“We’re thrilled to welcome Fabrizio as our first-ever global ambassador. His reputation for accurate information from the football world is second to none. He’ll bring tremendous value to our users.”
Romano’s partnership, facilitated by the team at Double Tap, marks another step in Betway Scores’ commitment to delivering real-time, data-driven content that enhances the football fan experience.
The post Here We Go… Betway Scores announces Fabrizio Romano as their first global ambassador appeared first on European Gaming Industry News.
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From Street Fighter Glory to a Global Tetris Path: Inside the First-Ever Red Bull AFK Party
Mumbai turned into a gamer’s paradise as Red Bull hosted the first-ever Red Bull AFK Party – a one-of-a-kind celebration that brought together gaming, music, and culture in a way India has never seen before. Described by many as the coolest party for gamers, the night united the country’s top gaming creators, esports stars, and fans for an immersive, high-energy experience done the Red Bull way.
The party welcomed people the Red Bull way, with a real static Formula 1 car right at the entrance. Inside, the venue transformed into a playground for gamers: an adrenaline-pumping RC Racing Track hosted by Ocean Sharma, Red Bull Athlete V3nom’s Reflex Challenge to test reaction speeds, Retro Arcade Section with a life-sized PAC-MAN and Tetris arcade, while the Console Gaming Zone buzzed with intense matches in EA FC 25 and Street Fighter.
As the night wore on, the gaming gave way to a packed dance floor with sets from OG Shez and DJ Kaartl.
V3nom on Red Bull’s Push for Gaming in India
The Red Bull AFK put Red Bull’s gaming athletes at the heart of the experience, showing the brand’s commitment to growing the ecosystem. As V3nom summed it up:
“Red Bull is getting into gaming full-on, hosting a lot of events and bringing together top creators and gaming athletes at gatherings like Red Bull AFK. It’s a huge and positive step for the community. I’m really happy to see it, and I hope events like this continue because we have so much more to do for gaming in India, ensuring future generations can make the most of the opportunities ahead.”
When asked about his favorite part of the party, V3nom added: “I think my V3nom Reaction Challenge, because it combines a bit of fitness with reaction time, and tests your reflexes — which are essential for gaming.”
From Mumbai to Dubai – The Tetris Challenge
One activation that had everyone talking was the Tetris challenge, inspired by Red Bull Tetris. Here, players could stack their way up the leaderboard for a chance to represent India at the Red Bull Tetris World Finals in Dubai later this year — bringing a global competitive pathway right to the AFK floor.
Jonathan’s Championship Moment
Another highlight was the Street Fighter x BC One Dance-Off, a crossover where gaming skill met dancing. Four creators — Jonathan, Ocean, Sharkshe, and V3nom — each teamed up with a professional dancer for a two-part battle.
After Sharkshe edged past Ocean and Jonathan toppled V3nom in the semis, the grand finale saw Jonathan dominate in Street Fighter before his dance partner delivered a flawless routine to seal the win.
The post From Street Fighter Glory to a Global Tetris Path: Inside the First-Ever Red Bull AFK Party appeared first on European Gaming Industry News.
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