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13/09-2017 23:11:31: (GIG) Detailed stock exchange announcement

Reference is made to Gaming Innovation Group Inc.'s (GIG) 
announcement 11 September 2017 regarding the acquisition of the 
Danish performance marketing company Rebel Penguin ApS. Below are 
some additional information in accordance with section 3.4 of the 
Continuing Obligations for companies listed on the Oslo Stock 

GIG's subsidiary Innovation Labs Ltd. has acquired 100% of the 
shares in Rebel Penguin ApS from the holding company Rebel Penguin 
Holding ApS, which is owned by the founder Jonas Warrer (44.6%), the 
two Danish investors Morten Strømsted (22.3%) and Peter Korsholm 
(22.3%), as well as key employees (10.8%).

The purchase price is EUR 13 million, which will be settled with EUR 
9.1 million in cash and the balance in 7,165,000 GIG treasury 
shares. The shares will have 12 months lock-up. Closing is expected 
ultimo September 2017. 

Rebel Penguin (RP) is a marketing company founded by Jonas Warrer in 
2007, specializing in online marketing combined with proprietary 
technology and a focus on iGaming - generating paying customers to 
sports betting clients in UK & the Nordics over the last ten years. 
Recently, RP expanded its focus to include an online marketing 
agency, catering to a variety of clients.

With the highly competitive and proprietary technology of Rebel 
Penguin, GIG will enter the paid media space through the 
acquisition, reaching distribution channels such as Facebook and 
Google. It is expected that RP will provide an increased volume of 
new players into GIG's eco-system and benefit all of GIG's business 
areas. RP's in-house affiliate agency will also add valuable 
technological and strategical knowledge to GIG's B2C and B2B gaming 
operators. RP has during the last years focused on building a large 
customer base on revenue share instead of up front CPA, and is 
currently doing 84% on revenue share, 12% on CPA and 4% on agency 
deals for operators. RP has so far not approached the casino market 
where GIG has a leading and rapidly growing presence. Thus, the 
casino segment represents an attractive and untapped potential. In 
addition to revenue synergies, the cost synergies are estimated to 
be at least EUR 1 million per year. 

RP is based in Copenhagen has 36 employees. Jonas Warrer is founder, 
CEO and board member and the board consists of Morten Strømsted 
(chairman), Peter Korsholm, Jakob Eggert Roed Jakobsen, Lars 
Kristian Runov, and Tobias Christopher Arroyave Købke.

The financial information below is from RP's audited annual accounts 
(Danish GAAP), and only presented for information purposes. RP do 
not publish interim reports:

(DKK 1000)      	  2016	  2015
Revenue	                26,968	25,952
Cost of sales   	14,815	10,121
Operating expenses	10,864	 9,758
Depreciation    	 1,284	   803
Operating result           603	 4,788
Result before tax	   301	 4,925
Net result      	   210	 3,777

                	  2016	  2015
Non-current assets	 7,235	 6,850	
Current assets   	 5,266	 3,682		
Cash                        21	   412
Total assets    	12,522	10,944
Capital and reserves	 4,172	 5,961	
Current liabilities	 6,495	 3,485
Long term liabilities	 1,328	 1,061
Total equity & liabil.	12,522	10,944

There are no agreements entered into with any members of the board 
or executive management in GIG or RP except for the Share Purchase 

For further information, contact: 
Robin Reed, CEO, +356 9999 0382, 

About GIG:
Gaming Innovation Group Inc. is an emerging gambling solutions and 
interactive entertainment provider. The Company offers cutting-edge 
cloud-based services and B2B performance marketing, and owns B2C 
gambling operators offering games from the best-of-breed suppliers 
across the online sports betting and casino industry. Gaming 
Innovation Group operates out of Malta and is listed on the Oslo 
Stock Exchange under the ticker symbol "GIG".

For more information about the Company and our services:

Ekstern link:

Nyheten er levert av OBI.

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