GiG completes B2C unit offload to Betsson

first_img Share StumbleUpon Related Articles GiG ups code security oversight with Checkmarx July 10, 2020 GiG lauds its ‘B2B makeover’ delivering Q2 growth August 11, 2020 Share Betsson outrides pandemic challenges as regulatory dramas loom July 21, 2020 Submit Gaming Innovation Group (GiG) has maintained its 2020 corporate agenda, confirming that it intends to fully divest its entire B2C unit to Stockholm counterpart Betsson AB by mid-April.Last February, GiG accepted a €31 million cash and shares deal offered by Betsson to divest its entire B2C unit, including control of its flagship properties Rizk, Guts, Kaboo and Thrills. Agreeing to the transaction, GiG will use the proceeds from its divestment to repay its SEK 300 million (€27m) corporate bond, strengthening the firm’s balance sheets.As previously communicated to investors, GiG has chosen to divest its entire B2C unit, focusing future growth plans on the development of its B2B services and technologies.  Further deal terms stipulated that Betsson must commit to maintaining all GIG B2C brands on the GIG platforms for a minimum term of 24 months, with Betsson paying platform fees based on net gaming revenue (NGR) performance.Richard Brown, CEO of GiG, previously commented on the transaction: “I am very excited about this transaction as it provides multiple upsides to GiG. While putting the company in a financially sustainable position, it gives us the ability to focus on where we see real long term shareholder value. This transaction serves as a strategic focusing of the company’s efforts towards the B2B segment.“Offering both B2C and B2B services had synergies in the past, however, the current conflicting priorities of the two business areas, and increased complexity in the market, have lessened the potential offering on both fronts”.last_img read more

Athletic club matching donations to help ‘Toys for Kids’

first_imgAddThis Sharing ButtonsShare to FacebookFacebookShare to TwitterTwitterShare to MoreAddThisAlpena — It’s been a tough holiday season for the Vietnam Veterans Chapter 583’s ‘Toys for Kids’ wrapping drive. They serve hundreds of families in need and are still shy of their goal to serve all of those children in need before the holidays.Social media posts have been floating around about the nonprofit’s need for toy and monetary donations. Local organizations are already beginning to step in, one of those being Bay Athletic Club.As part of their season of giving, the athletic center is matching toy and monetary donations for the organization that they’ve helped support for many years.“Sometimes, we just need to remember how good it feels to be able to help someone else even if you don’t know who that person is,” said Bay Athletic Club Communications Director Sarah Morrison. “When you’re out shopping, just swing by an aisle and grab something and that can be your donation.”You can drop off donations at Bay Athletic Club in Alpena off of Chisholm Street now through Friday. If you can’t make it to Bay Athletic by Friday. Donations can be made to the ‘Toys for Kids’ headquarters on 2040 Werth Rd. (the Old Ripley Street Fruit Market)“Every little thing you do can make a really big impact,” said Morrison.Toys are donated to families in need throughout Alpena, Alcona, Montmorency, and Presque Isle Counties.AddThis Sharing ButtonsShare to FacebookFacebookShare to TwitterTwitterShare to MoreAddThis Tags: alpena, Bay Athletic, bay athletic club, holidays, northeast michigan, Sunrise Side, toys for kids, Vietnam Vets Chapter 583Continue ReadingPrevious Rolling into the holiday season with a giving heartNext Alpena Public Schools Request Bond Sales to Update Structures and Security Systemslast_img read more