Aspire Global Buys Pariplay, Eyes US iGaming Expansion
Online gambling company Aspire Global Plc today announced that it has agreed to acquire GMS Entertainment Limited, the owner of online casino content developer and suppler Pariplay, in a €13.1 million cash deal.
Aspire Global said that the transaction would enable it to “control yet another crucial part of the iGaming value chain.”
The deal is subject to regulatory approval and is expected to close during the third quarter of the year. The transaction is not likely to have any material effect on the enlarged group’s financial results. Positive effect on Aspire Global’s EBITDA is expected as of 2020.
With the acquisition of Pariplay, Aspire Global will be able to strengthen its B2B business through external game sales. The deal is completely in line with the company’s growth strategy through mergers and acquisitions.
As mentioned earlier, Pariplay is owned by GMS Entertainment. The company is headquartered in Isle of Man and currently employs around 70 people, most of whom are based in the company’s tech hub in Sofia, Bulgaria.
Pariplay is best known for developing proprietary games in its own game studios. It is also the owner of one of the largest iGaming content aggregating platforms in the field, which currently contains more than 2,000 titles by some of the most popular casino content suppliers. Pariplay’s in-house games as well as its platform’s third-party titles are available to a number major gambling operators, including GVC and 888.
Pariplay holds licenses by the gambling regulators of the UK, Malta, Curacao, and Romania, and Gibraltar. The company recently received an iGaming certification for the provision of its products in New Jersey, which Aspire Global sees as a great opportunity to enter the US online gambling market.
Commenting on today’s announcement, Aspire Global CEO Tsachi Maimon said:
The integration of Pariplay grants us control of yet another crucial part of the iGaming value chain – cutting costs, broadening the game portfolio and providing a channel to sell propriety games outside Aspire Global network.
The executive added that Pariplay’s New Jersey license could act “as the spearhead” of their future efforts to extend their footprint across the pond.
Pariplay Managing Director Adrian Bailey added that they are delighted to join Aspire Global and start a new stage in their journey. Mr. Adrian also pointed out that both Aspire Global and Pariplay have cemented themselves as important B2B providers and that they look forward to start “realizing the high potential.”
Of selling his business, Pariplay CEO and Founder Gili Lisani said today that his company has come a long way since its inception in 2011 and that he feels “confident about sending the company off for the next phase of the growth journey.”
As mentioned above, the deal needs regulator approval before the involved parties move onto its finalization. The transaction is expected to close sometime in the third quarter of the year.
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The post Aspire Global Buys Pariplay, Eyes US iGaming Expansion appeared first on Casino News Daily.
Original source: https://www.casinonewsdaily.com/2019/06/28/aspire-global-buys-pariplay-eyes-us-igaming-expansion/
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