A little over a month after announcing the acquisition, Gaming Innovation Group (GiG) has closed its acquisition of affiliate group KaFe Rocks.
The deal is worth €35 million. It also comes after a similar deal for Glintnor Group to acquire the asset fell through in 2022.
“Our goal is to maintain our position as the leading casino affiliate in the industry and to expand further in the North American market. The inclusion of KaFe Rocks aligns perfectly with these objectives. We’ve identified a thriving business led by an exceptionally skilled team. We eagerly anticipate integrating KaFe Rocks into the GiG family, unlocking additional business value to benefit our partners and investors,” said GiG Group CEO Jonas Warrer.
Per the release, GiG hopes this will strengthen GiG Media’s position in the North American market. KaFe Rocks’s portfolio includes Time2Play.com and USCasinos.com in the US as well as Latam-focused sites like ApuestasOnline.net and SiteDeApostasOnline.net.
“It’s a momentous occasion for KaFe Rocks to join forces with GiG Media. We considered several buyers but were persuaded to go with GiG Media based on the strong performance the company has shown over the last few years. Joining GiG Media, we are optimistic about seeing Kafe Rocks business venturing into new heights,” said KaFe Rocks spokesperson Aimee Speight at the time the deal was announced.
During GiG’s Q3 earnings call, the group projected that, with the KaFe Rocks acquisition, GiG Media should generate between €125 million to €135 million in 2024.
