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.
William Hill PLC is one of the world’s leading betting and gaming companies, employing around 16,000 people. Founded in 1934 and listed on the London Stock Exchange.
About the transaction:
Mr Green is a fast-growing, innovative iGaming group with operations in 13 markets and brands including Mr Green and Redbet. Mr Green holds remote gambling licences in Denmark, Italy, Latvia, Malta, Great Britain and Ireland. Mr Green has leading gaming and casino products supported by a fast growing sportsbook.
Strategic Rationale
The combination of William Hill and Mr Green will create a strongly positioned combined business with an expanded pan-European footprint in faster growing online betting and gaming markets, further supported by the existing William Hill Online and Retail businesses in the UK and the US.
£108m equity fundraising on the London Stock Exchange
About the client:
Triple Point Social Housing REIT plc, is a listed UK REIT, investing in UK social housing assets, focused on supported housing
About the transaction:
A follow-on equity capital raise to support the acquisitions of a new pipeline of assets – an oversubscribed transaction. The transaction also included the establishment of 12 month placing programme for up to a further c.£150m of further equity to be issued.
£23m sale of a 70% equity stake in UK online casino assets and management relating to the brands Pocket Fruity, Spin Genie, Britain’s Got Talent Games and X Factor Games
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 transaction that resulted in the sale of 70% of the Company’s UK online casino B2C business to River iGaming plc
In addition to the consideration, River UK Casino (subsidiary of River iGaming plc) entered into a five year B2B platform and content agreement
Patrick Solution, CEO of Gaming Realms, said:
“We are delighted to announce this agreement with River iGaming, which aligns perfectly with our strategy
We are hugely grateful to the Akur team for their central role in bringing this transaction together
From identifying and introducing the most appropriate partners through to structuring, negotiating and finalising the deal with River iGaming, we have been impressed with Akur’s network, knowledge and advice throughout the process”
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