Details of Unibet's Acquisition of iGame Group EmergePublished September 28, 2015 by Lee R
The latest deal struck with iGame is just one of several deals which Unibet is making.
Initial details have emerged from Unibet's recent acquisition of iGame Group.
The New Details
Announced by Unibet last month, the deal called for a €59 million payment by Unibet to take control of iGame Group and subsidiaries.
Now OCR has learned that the amount has been paid in full up front, with a potential sweetener on the table: potential earn-out payments based on iGame's performance results through June 30, 2016, while iGame continues to trade under its existing brands with no change in customer relationships or service channels.
In kind, Unibet will now consolidate iGame online gambling business in performance results. Further, the company has secured additional credit to finance current projects and future investment to the tune of €120 million.
This is in keeping with the Unibet strategy as charted by CEO Henrik Tjärnström, who said at the time of the acquisition that iGame brands held substantial potential for combining his own company's plans for “bigger scale, mobile, cross channel and product expertise” with Game's “local focus.”
A change in leadership as a result of the deal has seen Unibet appoint Fredrik Kjell from NYX Gaming Group as its new head of gaming, after serving as commercial manager at NYX Gaming, and head of product NYX Poker at the company.
This deal diversifies Unibet's holdings as well as player offerings for iGames.
In other expansion, Unibet is now set to launch a full suite of proprietary table games from online gaming supplier Felt, marking the introduction of Felt games such as seven blackjack sidebets games and the firm’s unique “Double Ball Roulette.”
Felt CEO and former SkyBet casino head John Parsonage expressed his company's delight at the opportunity to work more closely with Unibet, pointing out how Unibet players would have access to “a mix of the most popular poker, roulette and blackjack side-bet games, many of which are already familiar to table game players across the world.”
Unibet has also signed former England national football team manager and player Glenn Hoddle to become an ambassador for the company and provide football insights and betting tips through via Unibet’s digital channels.
With these latest deals, Unibet is clearly gathering momentum.