Connect with us

Affiliate Announcements

Acroud strengthens the position within Streaming and SaaS in Sports Betting and Poker through the acquisition of TheGamblingCabin

Published

on

 

Acroud AB, has entered into an agreement to acquire 100 percent of the shares in Swedishsantas AB also known as TheGamblingCabin (“TheGamblingCabin “) from Swedishsantas Media AB (the “Transaction”) for a consideration of approximately SEK 47.3 million, on a cash- and debt- free basis. The Transaction also includes a potential additional consideration based on EBITDA development during the period from 1 April 2022 up to and including 31 March 2023. The consideration is paid in cash and in newly issued Acroud shares (the “Consideration”). The Transaction is based on Acroud’s signed letter of intent and previously communicated press release dated 17 February 2021. TheGamblingCabin is a fast-growing company offering a software based tipster service as well as some very popular video content within Sports Betting, Poker and Horse Racing. TheGamblingCabin has a clear “strategic fit” with Acroud strengthening the software offerings (SaaS) as well as adding some of the most popular ways of consuming media, YouTube and Twitch, to Acroud’s offering. TheGamblingCabin generated annualized sales of app EUR 1.4 million based on the 9 month period Q220-Q121 with an EBITDA margin of approximately 65 percent reaching an EBITDA of EUR 0.9 million. The Transaction is not subject to any further conditions and is completed as of 15 April 2021.

The Transaction in brief

The Transaction is in line with Acroud’s previously communicated strategy to become a fast-growing global challenger in digital comparison and news services.

The Transaction is in line with previous completed acquisitions and is expected to contribute to increased sustainable revenues and profits through an increased market and product diversification through new verticals, markets and media channels.

The Transaction will lead to a lower risk profile with more stable revenue generation and profitability.

The Transaction is based on Acroud’s letter of intent signed on 17 February 2021.

The consideration for 100 percent of the shares in Swedishsantas AB, on a cash- and debt- free basis, amounts to approximately SEK 47.3 million paid at closing (the “Upfront Consideration”)

Approximately SEK 23.6 million, of the Upfront Consideration will be paid with 7,709,202 Acroud shares (the “Consideration Shares”), at a subscription price of SEK 3.07 per Acroud share (corresponding to EUR 0.30 per share).
50 percent of the Consideration Shares will be subject to a one year lock-up and 50 percent are subject to a two year lock-up from today’s date.

Approximately SEK 23.6 million of the Upfront Consideration will be paid in cash.
An additional consideration can be paid based on a multiple of 5 times the EBITDA generated during the period from 1 April 2022 up to and including 31 March 2023 reduced with an annualized EBITDA based on the Q220-Q121 (the “Earn-Out Consideration”). The Earn-Out Consideration is paid with 50 percent in newly issued shares in Acroud and the reminder in cash (the “Earn-Out Consideration Shares”). The price for the Earn-Out Consideration Shares will correspond to the average price of the Acroud share on Nasdaq First North Growth Market for the 30 consecutive calendar days preceding 1 April 2023 (which corresponds to the end of the period when the mentioned targets are measured). The Earn-Out Consideration amounts to a maximum of approximately SEK 82 million.

Background and rationale

TheGamblingCabin’s main revenue source is through its “software based tipster service” as well “traditional” affiliation revenue generated by high quality online video content. TheGamblingCabin has only revenues from regulated markets and sees great potential for geographical expansion.

This potential acquisition fits well to Acroud’s strategy, and Acroud sees significant synergies and expansion possibilities down the line. TheGamblingCabin’s current growth rate, on stand-alone basis is also good. With TheGamblingCabin Acroud will rapidly expand the streaming offering and rich content throughout Acroud’s global network and other business lines.

The acquisition of TheGamblingCabin is in line with the previously communicated new strategy. Together with the previously communicated acquisitions, the TheGamblingCabin positions Acroud as not only a leading affiliate within Casino, Sport Betting and Poker, but also it strengthens Acroud’s position on the market as a SaaS provider.

With TheGamblingCabin business, Acroud sees not only a strong financial growth driver but also significant synergies across the future operational organization.

“This is the next step of the implementation of Acroud’s strategy to be the “Media House of the Future” and a fast growing global player within Streaming and software solutions for the media affiliation industry. TheGamblingCabin’s “reduction tool” is an industry leading software and TGC’s digital presence with “movable media” is impressive and something that may be expanded internationally. The acquisition together with the other recent acquisitions are together considered transformative and additive for each other. We are building a company where all parts complement each other. Focus will after the acquisition be on “operational excellence” and to develop the new Acroud together with our new team and partners for an existing journey ahead” Robert Andersson, CEO and President, Acroud

Bengt Sonnert, CEO at TheGamblingCabin comments the Transaction;

“To become a part of Acroud was actually nothing that we even thought about initially, but the more we understood what Acroud is building it felt as an easy choice. They share our visions and provide us with new and greater possibilities to bring our business to the next level.”

Purchase Price, Earn-Out Consideration, Lock-Up Period

The upfront purchase price of approximately SEK 47.3 million, on a cash- and debt- free basis, is paid with approximately SEK 23.6 million in cash and approximately SEK 23.6 million is paid with 7,709,202 newly issued Acroud shares. The Consideration Shares are issued at a price of SEK 3.07 per share (EUR 0.30 per share).

The Earn-Out Consideration, which is subject to TheGamblingCabin generating a certain financial performance during the period from 1 April 2022 up to and including 31 March 2023, will be paid with 50 percent in newly issued shares and the reminder in cash. The price for the Earn-Out Consideration Shares will correspond to the average price of the Acroud share on Nasdaq First North Growth Market for the 30 consecutive calendar days preceding 1 April 2023 (which corresponds to the end of the period when the mentioned targets are measured). The Earn-Out Consideration amounts to a maximum of approximately SEK 82 million.

50 percent of the Consideration Shares will be subject to a one year lock-up and 50 percent are subject to a two year lock-up from today’s date. The Earn-Out Consideration Shares will be subject to a one year lock-up as of the date of the issuance.

Issue of Consideration Shares and Earn-Out Consideration Shares

The board of directors of Acroud has today resolved to issue and allot the Consideration Shares pursuant to the authorization granted by the annual general meeting on 25 June 2020. The Earn-Out Consideration Shares will be issued after confirmation of TheGamblingCabin having reached the relevant financial performance.

The Consideration Shares represent 5.95 percent of the total number of shares and votes in Acroud on a fully diluted basis. By issuing the Consideration Shares, the number of shares and votes increase by 7,709,202. The share capital increases by EUR 195 031.05.

The number of shares and the increase of the share capital, upon issuance of the Earn-Out Consideration Shares, will depend on the outcome of the targets for the Earn-Out Consideration and the share price development for Acroud’s share.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published.

Affiliate Announcements

Latam Affiliates Confirmed for June 30, 2022

Published

on

Latam Affiliates Confirmed for June 30, 2022

 

The first edition of the Afiliados Latam – São Paulo event is confirmed for June 30th and will take place in São Paulo. The event will be the day after the BiS (Brazilian iGaming Summit), which will take place between the 28th and 29th of June, at the same location.

This year, both events will be held at Espaço JK, which is located on one of the most prestigious corners of São Paulo, at the intersection of Av. Juscelino Kubitscheck and Av. I would do Lima. In addition to a select venue, the event will also feature high quality content and renowned speakers in the iGaming industry.

Among some of the names that will be present, are confirmed, Pedro Lucas Trindade, Pedro Feitosa, Juliano Fontes, Fernando Verchai, Abelardo Dantas, Rodrigo Loco and other famous figures who will soon have their names released.

The event that covers the iGaming market, which in turn includes sports betting, casino games, bingo, poker and other modalities, should also cover topics about digital marketing in general, in addition to affiliate marketing. In addition to this publicity content, we will have issues regarding crypto, tokens and NFTs being covered on stage.

The complete agenda will be published on the official website of Afiliados Latam until the beginning of June. Until then, stay tuned to the event’s digital channels to follow the names of confirmed participants and the companies that will be there.

For the time being, the expectation is that there will be panels dedicated to the hottest issues of the moment, such as the possible situation of affiliates after a regulation of the sports betting market and the possible opening of the market in general after the bill that was passed in Congress earlier this year.

““The initiative will give voice to affiliates who bring years of experience in their luggage, to share during the event, so that the audience can take advantage of important tips to start or improve their operations” – commented Alessandro Valente, co-founder of Super Afiliados and creator of the event.

Since December, plans were being drawn up so that the event would take the form it needed to reach both the more experienced public and those who are not yet used to working in this sector.

Continue Reading

Affiliate Announcements

Blexr Acquires Prime NZ Casino Review Site for Seven Figures

Published

on

Blexr Acquires Prime NZ Casino Review Site for Seven Figures

 

Lead generation company Blexr has bought the New Zealand-based website CasinoReviews.net.nz as part of its ongoing drive to expand its portfolio.

The site provides honest and thorough reviews of reputable online casinos which accept players from New Zealand, helping people make better online decisions.

Blexr, which has its headquarters in Malta, plans to make the website the most comprehensive casino resource for Kiwi players.

Blexr acquired https://www.casinoreviews.net.nz/ for a seven-figure sum, demonstrating its commitment to owning properties that will further enhance its offerings to its customer base.

Koen Bongers, Blexr’s Head of Marketing, said: “We believe this acquisition will blend very well into our existing product portfolio while increasing our presence in our target markets.

New Zealand has a high interest in slot machines – called ‘pokies’ locally – and our bespoke free casino games technology allows us to create a highly localised offering in the market that will stand out from the competition.

“We have big plans for this website and are excited to see how it will grow in the coming months.”

Continue Reading

Affiliate Announcements

AffPapa and Bspin.io join forces in a new partnership

Published

on

AffPapa and Bspin.io join forces in a new partnership

 

AffPapa is excited to reveal its new partnership with Bspin.io, officially welcoming the iGaming operator to its ultimate directory.

Bspin.io, which launched in 2018, has since set up a dedicated community of returning players who enjoy a variety of benefits that we’ll go over in a bit.

The iGaming operator, which employs Bitcoin as its exclusive currency, allows its users to deposit, play, and withdraw Bitcoin with no extra conversion in their accounts – same with opening and exiting the games.

Bspin.io commented on the partnership:
“Bspin.io is very pleased to have started cooperation with AffPapa to continue delivering one of the purest forms of entertainment made transparent, safe, and with the players in mind. The joint effort will help to continue operating globally developing the proprietary casino platform on top of crypto adoption.”

Bspin.io is constantly upgrading its appearance and introducing new games. Over 600 titles are available on the website, ranging from jackpots to slots and table games. Daily rewards and one-time bonuses keep gamers intrigued and returning for more.

The operator covers popular GEOs, including Australia, Germany, Japan, Mexico, the United States, and Venezuela.

Yeva Avagyan, CCO at AffPapa, stated:

“I am very delighted to see Bspin.io go live with us – AffPapa. With their generous bonuses, one time offers, and 600+ thrilling games, Bspin has secured a loyal fanbase. I’m sure our crypto affiliates will be pleasantly surprised by our new operator being listed in the directory as well.”

When it comes to feedback and customer support, the operator states that every opinion and suggestion is evaluated. Their team of experts feel that this is the ideal strategy for having satisfied consumers.

With reliability, lightning-fast performance, and huge offers, Bspin.io is now open for direct messaging and exciting collaborations!

Continue Reading
Advertisement

Latest News

Betsson Group Affiliates to sponsor AffPapa iGaming Awards Betsson Group Affiliates to sponsor AffPapa iGaming Awards
Awards5 days ago

Betsson Group Affiliates to sponsor AffPapa iGaming Awards

  Betsson Group Affiliates has made it to the list of the AffPapa iGaming Awards as a Silver Sponsor. The...

News6 days ago

How important are partnerships in iGaming?

  Many industries have been driven by rivalries as every company is striving for the best – but it’s not...

News2 weeks ago

Current Situation on US Gambling Law

  According to the American Gaming Association, the United States gambling industry is worth some $240 billion. That’s more than...

Royal Partners as Platinum Sponsor of AffPapa iGaming Awards Royal Partners as Platinum Sponsor of AffPapa iGaming Awards
Awards2 weeks ago

Royal Partners as Platinum Sponsor of AffPapa iGaming Awards

  Royal Partners will join AffPapa iGaming Awards 2022 as the Platinum Sponsor of the event, honoring affiliates and operators....

Largest Dutch poker affiliate complies with regulatory changes post introduction of new Dutch gambling law Largest Dutch poker affiliate complies with regulatory changes post introduction of new Dutch gambling law
Affiliate Compliance3 weeks ago

Largest Dutch poker affiliate complies with regulatory changes post introduction of new Dutch gambling law

  PokerKamers.nl, one of the Netherlands’ first and largest poker affiliate sites, introduced a new policy that fully complies with the regulatory...

Blexr Acquires Prime NZ Casino Review Site for Seven Figures Blexr Acquires Prime NZ Casino Review Site for Seven Figures
Affiliate Announcements3 weeks ago

Blexr Acquires Prime NZ Casino Review Site for Seven Figures

  Lead generation company Blexr has bought the New Zealand-based website CasinoReviews.net.nz as part of its ongoing drive to expand its portfolio. The...

AffPapa and Bspin.io join forces in a new partnership AffPapa and Bspin.io join forces in a new partnership
Affiliate Announcements3 weeks ago

AffPapa and Bspin.io join forces in a new partnership

  AffPapa is excited to reveal its new partnership with Bspin.io, officially welcoming the iGaming operator to its ultimate directory....

Affiliate Success1 month ago

Crash course for becoming a master in Casino Affiliate Marketing

  Intro Online casino culture is immensely popular. With the increasing popularity of online casinos, another profitable device is also...

OMG Affiliates won the Rising Star at iGB Affiliate 2022 OMG Affiliates won the Rising Star at iGB Affiliate 2022
Affiliate Success1 month ago

OMG Affiliates won the Rising Star at iGB Affiliate 2022

  OMG Affiliates, a program developed by Vita Media Group, has won the Rising Star Award at the iGB Affiliate...

GiG media crowned 'Best casino affiliate' at IGB affiliate awards 2022 GiG media crowned 'Best casino affiliate' at IGB affiliate awards 2022
Affiliate Success1 month ago

GiG media crowned ‘Best casino affiliate’ at IGB affiliate awards 2022

  Gaming Innovation Group was named ‘Best casino affiliate’ at this year’s IGB affiliate awards ceremony which took place last...

Trending

European Gaming Media and Events is a leading media and boutique event organizer in the European Union with a monthly reach of +110,000 readers. The official company (PROSHIRT SRL), has been listed for 4 years in a row among the top 3 Advertising and market research agencies in the local Top Business Romania Microcompanies based on the Financial Reports.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2022 European Gaming Media and Events. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania