The casino media and affiliate company rebranded as Time2Play in June.
Malta.- GiG has announced the acquisition of the casino media and affiliate company KaFe Rocks for €35m. It says the move will solidify its position in the US market as well as increased diversification in 15 other markets where KaFe Rocks is active.
It said the acquisition will provide it with improvements in customer experience and market concentration.
KaFe Rocks announced a rebranding as Time2Play in June. GiG said the company had achieved “impressive revenue growth” in the last 12 months and that this is expected to continue. It expects KaFe Rocks to contribute revenue of €23m in 2024 and an EBITDA margin of over 45 per cent.
Aimee Speight, a spokesperson for KaFe Rocks, said: “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.”
GiG plans to split its media division from its platform division. It expects it to generate revenue of €125m to €135m in 2024.
CEO Jonas Warrer said: “We want to remain the leading casino affiliate in the industry and grow in the North American market. Our acquisition of KaFe Rocks validates these goals. After the successful integration of AskGamblers, we have been looking for the next splendid candidate to join the family.
“In KaFe Rocks, we’ve found a flourishing business led by an exceptionally skilled team. Their reputable affiliate assets will undoubtedly drive growth for the broader group. I eagerly await working closely with the KaFe Rocks team.”
Earlier this year, the Juroszek family, which agreed to sell 70 per cent of its Polish betting operator STS Holdings to Entain CEE, increased its shareholding in GiG. The family is the supplier’s largest shareholder with an 11.08 per cent stake.