Gaming Innovation Group Issues A Convertible Loan To Two Institutional Investors

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February 22, 2022
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Gaming Innovation Group Issues A Convertible Loan To Two Institutional Investors

Gaming innovation group (gig) over the past year has achieved great success. And in 2021, the business will gain momentum with additional opportunities to increase long-term shareholder value. To take advantage of these capabilities, gig decided to provide a subordinated convertible loan in the amount of 8.5 million euros by two scandinavian investment funds formue nord a / s and symmetry invest a / s.

Gig sees the market development for its target base, since the regulation and digitalization of the gambling industry stimulate demand, and the company intends to use revenue from a convertible loan to speed ​​up income generating activities and accelerate future growth. Using the strict stricture of the distribution of capital, funds will be used for a number of projects of as the continuous development of a colonical supply in the casino and bookmakers, an increase in the rate of output to the market in the long run, facilitating sales funnels and the transition to more agressive growth in paid media, as well as potential for work in the field of mergers and acquisitions within the framework of the media publishing division.

Richard brown, ceo gig, explains:

"Over the past 12 monhs, gig has simplified our business regarding the main offer of b2b due to the significant growth in revenue and ebitda in the first 9 monhs of 2020. Since we see opportunities for continuous expansion in all three of our business segments, we wanted to strengthen our monetary position to take advantage of these possibilities. We are glad that gig is now in the position when we can attract the capital of instititional investors on competitive conditions for further business acceelece.

Rasmus wiggers, director for information technologies formue nord, commented:

"We have followed the gig for some time and were impressed with progress in business in the last year. We are pleased that we can support the gig flexible financial solutions, which will allow gig to grow in the future. ".

Source: gig official website

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