Gaming Innovation Group (GiG) has made a €35m (£30.5m/$37.4m) agreement to acquire affiliate KaFe Rocks, the company has announced. The deal will be financed over 24 months, with GiG paying €15m up front and €20m over the remaining period.

The acquisition of KaFe Rocks is expected to accelerate GiG’s market presence in the valuable North American market. GiG will be acquiring all of KaFe Rocks’ brands, including the US-facing and

Despite KaFe Rocks’ rebranding to Time2Play Media in June, the business will remain under the KaFe Rocks Ltd name. The affiliate anticipates generating a minimum revenue of €23m from KaFe Rocks in 2024, with an EBITDA margin above 45%, resulting in an EV/EBITDA multiple of around 3.6x for the acquisition.

GiG believes that the acquisition will further diversify the business, improve customer, website, and market concentration, and reduce overall risk. This investment is expected to have an impact on GiG Media’s revenues, with anticipated growth between €125m and €135m in 2024.

GiG CEO, Jonas Warrer, stated that the acquisition aligns with the company’s commitment to remaining a market leader and growing in North America. He also expressed anticipation for the acquisition to drive growth for the broader group and looks forward to working closely with the KaFe Rocks team.

Aimee Speight, a spokesperson for KaFe Rocks, considers the sale to GiG Media as a “momentous occasion” for the company and looks forward to seeing the business venture into new heights.

This marks the second casino affiliate acquisition for GiG in 2023, following the purchase of in January for €20m, with an additional €25m to be paid in the following years.

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