One of the old-time veterans in the online gambling business recently announced a new partnership that will help propel visibility in all directions. However, if you pride on informing yourself? You know that the deal between the larger Betsson group. And the Strive Platform’s parenting company TG Lab UAB already happened in 2020. As such, the latest agreement is more of an extension and gap filler. Although, it doesn’t remove the fact that the deal is worth close to £4.7 Million. Yet, it looks to be a lucrative agreement for all involved parties. Let’s check a bit closer at the details and what it ultimately means with all information at hand.
It’s told that the investment will cost the tier 1 operator somewhere around £4.7 Million. And this to get 35% of the companies issued shares. More precise into the Strive Platform operation. But what’s more. The deal at hand will stretch across multiple years. And will basically grant better promotional access to the intended market. Plus, it also reported that there is a second option to get even more stakes in the company further. Said to get finalized if chosen to do so in the second half of 2021. And would as such increase the operator’s interest by 5% for a cost of around £720.000. Additionally, the online casino provider has given its new partner a convertible shareholder loan, which landed on approximately £1.8 Million.
According to the available information. This collaboration will, for instance, give the online casino operator access to the player account management system (PAM). And this is going to support the planned expansion better. commenting on the news is Mr. Lindwall, and added things like. “This investment brings together two high-quality, independent iGaming technologies”. Worth pointing out, the expansion is more geared towards the US side of things. Still, what’s highly interesting in this news, is that? With UK-facing brands like Rizk. Betsson plans to launch one of its power-house and prominent former UK operation Betsafe onto the market. In other words, will the brand cater more to the US players? As it never really got any serious attention with its UK presence. All in all, it’s great news for the market that will get access to such a well-established brand.