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Gambling.com Group agrees to acquire RotoWire13 December 2021(PRESS RELEASE) -- Gambling.com Group Limited, a leading provider of player acquisition services for the regulated global online gambling industry, today announced that it has entered into a definitive agreement to acquire Roto Sports, Inc., operator of RotoWire.com, a popular provider of expert fantasy sports news and advice. The transaction is expected to close in early January 2022 and is subject to customary closing conditions. The acquisition of RotoWire will immediately expand Gambling.com Group’s U.S. presence and is expected to create immediate accretion to fiscal 2022 earnings. The Group will leverage RotoWire’s existing audience, content library, talented workforce, media partnerships and trust with U.S. sports fans to further accelerate the Group’s already fast-growing business in the U.S. online sports betting market. Gambling.com Group believes that RotoWire’s popular digital assets – when combined with the Group’s digital expertise and technology platform – will drive substantial, incremental affiliate revenue in the rapidly expanding sports betting environment. Transaction Highlights:
Peter Schoenke, President of RotoWire and past-Chairman of the Fantasy Sports & Gaming Association, added, “The United States is entering a whole new world of sports fandom and combining forces with Gambling.com Group will accelerate RotoWire’s growth. Gambling.com Group’s resources and experience will help RotoWire rapidly advance its sports betting offerings to take full advantage of this new era.” Transaction Terms The aggregate purchase price is $27.5 million. The Group will pay $20.0 million at closing, consisting of $15.0 million in cash and $5.0 million in newly issued, unregistered ordinary shares, valued on a volume weighted average price over the preceding 10 trading days. The Group will pay $2.5 million and $5.0 million on the first and second anniversaries of the closing, respectively, neither of which are dependent on the financial performance of RotoWire. The Group has the ability to elect to pay up to 50% of each of the deferred amounts in unregistered ordinary shares. “We will commence work on expanding sports betting content and tools across RotoWire’s digital assets straight after closing,” said Gillespie. “We believe that the combination of these two complementary businesses creates immediate accretion to our fiscal 2022 earnings and establishes a foundation for a leadership position in U.S. sports betting which will drive near-term, and especially long-term, value creation for our shareholders.”
Gambling.com Group agrees to acquire RotoWire
is republished from Online.CasinoCity.com.
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