Acquisition of Lucky Dino Gaming; €25 million consideration
About the client:
Esports Entertainment Group, Inc. is a licensed online gaming company with a specific focus on esports wagering and gaming. Akur is exclusive buy-side M&A adviser to EEG
About the transaction:
Akur acted as exclusive financial adviser to EEG on its 100% acquisition of Lucky Dino Gaming
Grant Johnson, CEO and founder of EEG said:
“From origination of the transaction through to negotiating and finalising the deal with Lucky Dino, we have been impressed with Akur’s understanding of our acquisition strategy, extensive industry network and advice throughout the process.”
mkodo, which was founded in 2001, delivers world-class, award-winning apps and digital products for mobile, online and retail environments in the betting, gaming and lottery sectors. Clients of the UK-based company include; The Rank Group’s Grosvenor Casinos and Mecca Bingo brands, Canada’s Atlantic Lottery Corporation and British Columbia Lottery Corporation.
About the transaction:
Akur acted as exclusive financial adviser to mkodo on its 100% sale to Pollard Banknote
Sue Yoxall, Co-founder and Executive Director of mkodo said:
“From origination of appropriate partners through to structuring, negotiating and finalising the deal with Pollard Banknote, we have been extremely impressed with Akur’s extensive network, knowledge and advice throughout the process.”
£23m initial growth equity investment, which may be increased to £27m
About the client:
FSB Technology offers full end-to-end sports betting and internet gaming solutions which includes data and pricing feeds, a proprietary sports betting software platform, fully managed trading services and more.
About the transaction:
Akur acted as lead advisor in securing the growth equity investment in FSB Technology from Clairvest Group Inc. (TSX: CVG), a Toronto-based private equity house.
Clairvest have made an initial investment of £23m, which may be increased to £27m.
Mark Blandford, Chairman of FSB commented:
“We are delighted to have once again concluded an important transaction for FSB with Akur on board as our advisers. From the early stages of identifying and introducing potential partners through to structuring and finalising the deal with Clairvest, Akur have skilfully married the varying requirements of a range of shareholders with those of our management team and the incoming investors. They have played a vital role in bringing this complex transaction together.”
Dave McDowell, CEO, added:
“Akur did a fantastic job helping us get this important investment completed!”
Sale of Real Money Assets to River Group for £11.5 million
About the client:
Gaming Realms plc (GMR.L) is an AIM-listed developer, publisher and licensor of mobile real money and social games
About the transaction:
Akur advised GMR on the sale of Bear Group Limited, the sale of a perpetual licence to its gaming platform, and the sale of GMR’s residual interest in River UK Casino Limited
GMR has undergone a number of changes in 2018 as part of its strategy to focus on content development and international licensing. This transaction (which is subject to shareholder and regulatory approval, amongst other things) is in line with GMR’s strategic direction, continuing to build on its reputation as a highly regarded developer and licensor of games in the international gaming market.
In 2018, Akur advised GMR on the sale to River UK Casino of certain of its real money gaming brands, namely Pocket Fruity, Spin Genie, Britain’s Got Talent Games, X Factor Games and associated business.
Having built an excellent pedigree with the development and launch of approximately 20 games to date, this transaction provides an opportunity for GMR to focus its resources further on content development and international licensing of its Slingo brand and intellectual property.
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