GiG looks to separate Media and Platform businesses
15th February 2023 8:48 am GMT
iGaming affiliate and technology supplier Gaming Innovation Group has announced a strategic review that will examine the separation of the company into two separate publicly listed businesses.
The company said that the purpose of the split is to sharpen the focus for each business segment and optimise growth opportunities by separating lead generation Media Services from Platform and Sportsbook.
The strategic review will continue throughout 2023 with an initial focus on operational objectives to execute the split, with final execution subject to necessary corporate actions, including shareholder approvals.
“This is a very exciting time, both for the company and its employees but also for the shareholders of GiG,” said chief executive Richard Brown. “I strongly believe that a split has the potential to remove hurdles and unleash new possibilities for each business segment and that we can create two very successful companies.”
GiG chairman Peter Nylander added: “Each of our Platform and Media business has reached such a maturity where it makes perfect sense to evaluate a potential split. We are looking forward to initiate the review and see how we can maximise operational output and shareholder values.”
Shares in Gaming Innovation Group Inc. (STO:GIGSEK) were trading 3.94 per cent higher at SEK30.04 per share in Stockholm Wednesday as the company announced full year results for 2022.
