GiG has recently announced that it will be selling its B2C brand, Highroller, to Ellmount Gaming Ltd. Operator, GiG has divested the brand to the affiliate and operator for a total of £6.33 million. Also, as a part of the deal, Ellmount Gaming will become one of the GiG’s B2B customers.
Furthermore, it will continue using GiG’s Platform Services to operate Highroller. However, Ellmount will not make a one-off payment. Indeed, they will be spreading the total sum over the course of 48 months. As a result, Highroller will continue to operate under GiG’s licenses for now. They will then migrate it over to Ellmount Gaming’s licenses after regulatory approval.
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Initially, GiG launched the casino in 2017 as a proprietary brand. It had a strong start and great brand recognition. In fact, in the first half of 2019, it had a revenue of £1.26 Million. Although it had an EBITDA of £-0.18 Million.
GiG has confirmed that this is part of its strategy to increase the Rizk brand equity in the casino category in certain markets. And we all know that Rizk is GiG’s main revenue generator. At least when it comes to its B2C vertical, that is. So it makes sense to grow Rizk Casino and make it even better and more accessible too.
Following this move, GiG will focus on its 4 top brands: Rizk, Kaboo, Guts and Thrills.
Of these, Rizk Casino is the biggest and best performing operator. In fact, it represents 71% of all B2C revenue. Furthermore, it had a year-on-year growth of 34% in the first quarter of 2019.
In terms of revenue, Rizk Casino is followed by Guts, which they will be developing further as a sports betting brand. This move certainly shows what GiG’s focus is on.
They are putting all their attention on their big 4 . Plus, they will be looking to grow Rizk to becoming a Tier 1 casino in specific markets too. Overall, this agreement increases GiG cash flow and in the end the players will reap the benefits from it too.