June 19, 2024 3 min read


Fact-checked by Velimir Velichkov

GiG Finishes Oversubscribed €15M Bond Issuance

Gaming Innovation Group has announced the completion of a €15 million ($16.1 million) bond issue to help it acquire CasinoMeister and to serve its corporate goal

At the start of the week, we announced that iGaming marketing and media leader Gaming Innovation Group (GiG) had signed a head-of-terms agreement for the acquisition of search engine optimization and content services provider Titan.

The group also selected ABG Sundal Collier and Pareto Securities as the managers responsible for setting up a number of fixed-income investor meetings connected to GiG’s plans to issue bonds starting June 17.

Most recently, the group has announced the completion of a €15 million ($16.1 million) bond issue that would assist it with financing the acquisition of online casino forum and review platform CasinoMeister while supporting its corporate purposes.

The Issuance Boosted the Outstanding Bong Amount to €90M

GiG’s bond issuance, which was introduced as part of a current bond loan, boosted the amount of the outstanding bond to €90 million ($96.7 million).

The issuance also attracted a great deal of interest from both new and older investors in the US, continental Europe, and across the Nordic countries.

The high number of potential investors led to oversubscription. Eventually, the subsequent bond issue’s price of par was set at 103.75%.

A Long String of Acquisitions

The news follows the recent fundraiser that helped GiG scoop up around SEK100 million ($9.45 million) after issuing 3.2 million shares to a few long-term institutional investors. 

The list of participants in the share issue features big names like GiG Media’s chief executive officer, Jonas Warrer, and GiG Platform & Sportsbook’s chief executive officer, Richard Carter, next to Knutsson Holding, an investor in public and privately owned companies in eGaming, iGaming, or co-working. 

Other participants were Agerskov Kapital, a venture capital fund with a focus on gaming, technology, SaaS, and real estate, Prioritet Finans, a company that provides debt collection services, and the Juroszek family, former owners of Polish betting operator STS Holdings who are like to turn into the largest shareholder in GiG. 

The funds are expected to offer the group more working capital for the Platform & Sportsbook business in preparation for the upcoming company split in the third quarter. 

Earlier in the week, GiG, which is currently trading at trading at SEK28.10 ($2.70) (-1.06%), unveiled Gentoo Media, its new corporate identity for the GiG Media division that is getting ready to be spun off from the main company.

Also aligned with its announced expansion strategy, the group has been actively acquiring several companies, including KaFe Rocks, a major online casino affiliate expected to help GiG

Strengthen its foothold in the North American market, and AskGamblers via share purchase by Innovation Labs

The acquisitions are meant to enhance the group’s market diversification and reach for customers. 

After finishing her master's in publishing and writing, Melanie began her career as an online editor for a large gaming blog and has now transitioned over towards the iGaming industry. She helps to ensure that our news pieces are written to the highest standard possible under the guidance of senior management.

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