Add-on Acquisition • Leisure

GAN Acquires Coolbet Group

On November 16, 2020, GAN acquired leisure company Coolbet Group for 149M EUR

Acquisition Context
  • This is GAN’s 1st transaction in the Leisure sector.
  • This is GAN’s largest (disclosed) transaction.
  • This is GAN’s 1st transaction in Estonia.

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M&A Deal Summary

Date November 16, 2020
Target Coolbet Group
Sector Leisure
Buyer(s) GAN
Deal Type Add-on Acquisition
Deal Value 149M EUR

Target Company

Coolbet Group

Tallinn, Estonia
Formed in 2015, Coolbet Group offers online real-money gaming in sports, casino, poker, and virtual e-sports. Coolbet is primarily based in Tallinn, Estonia, and has a management team with extensive experience in the MiG industry. Currently, the Company has gambling licenses in Estonia, Sweden, and Malta.
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Buyer Overview 1

Buyer

GAN

Irvine, California, United States

Category Company
Founded 2002
Sector Digital Media
Revenue 142M USD (2022)
DESCRIPTION

GAN is a business-to-business supplier of internet gambling software-as-a-service solutions predominantly to the U.S. land-based casino industry and is a business-to-consumer operator of proprietary online sports betting technology internationally with market leadership positions in selected European and Latin American markets. In its B2B segment, GAN has developed a proprietary internet gambling enterprise software system, GameSTACK, which it licenses to land-based U.S. casino operators as a turnkey technology solution for regulated real money internet gambling, encompassing internet gaming, internet sports betting, and social casino gaming branded as 'Simulated Gaming. The company was founded in 2002 and is based in Irvine, California.


Deal Context for Buyer #
Overall 1 of 2
Sector: Leisure 1 of 1
Type: Add-on Acquisition 1 of 2
Country: Estonia 1 of 1
Year: 2020 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-09 Silverback

Sofia, Bulgaria

Silverback is an online casino game developer that possesses proven online slot games such as Aztec Luck and Mystery Stacks, currently distributed across European regulated markets to more than 100 B2C operators of iGaming. The company's mission has been delivering innovative, immersive mobile-first online casino games with differentiated design features, delivering innovative iGaming experiences. Silverback was formed in 2019 and is based in Sofia, Bulgaria.

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