GiveMeSport Launches Online Sports Betting Brand
GiveMeSport, a British digital media firm, is venturing into the betting arena through a partnership with Oryx. Its parent company, Breaking Data, has agreed to purchase Oryx Gaming. Their aim is to expand their reach from the UK to the United States.
Breaking Data declared today that they have reached an accord to buy all of Oryx’s shares. The company intends to introduce a new online sports wagering brand, GiveMeBet, utilizing GiveMeSport’s substantial following of 26 million Facebook users.
The transaction is valued at €7.5 million (£6.7 million/$8.7 million), with potential for additional payments based on performance.
A representative of Breaking Data informed iGamingBusiness.com that there is no fixed completion schedule for the agreement, and Oryx is anticipated to be rebranded as Bragg Gaming Group. However, the spokesperson indicated that a launch of GiveMeBet by the end of this year or early in 2019 is a plausible expectation.
Dominic Mansour, previously the CEO of UK Health Lottery and holding leadership positions at FullTilt Poker, GTECH G2, NetPlay TV, and Globalcom/WMC UK, will assume the role of CEO at Bragg Gaming. Akshay Kumar, a former executive at NetPlay TV and Sporting Index, will serve as the CFO.
In a recent announcement, Breaking Data revealed its plans to emulate the development of Sky Betting & Gaming by Sky Broadcasting, using GiveMeBet as a model for growth.
Mansour, expressing his vision, stated that the acquisition of Oryx marks the initial step in establishing a new global gaming conglomerate. He outlined their intention to pursue further acquisitions within the gaming sector, aiming to transform Bragg Gaming into a cutting-edge gaming enterprise.
The newly formed entity, he emphasized, will have the potential to enter the gaming market and capitalize on synergies through operational integration. GiveMeSport, boasting a larger Facebook following than ESPN and Sky Sports, will be leveraged to establish sports betting operations, initially in the UK and subsequently in the US.
Oryx CEO Matthew Mazieres expressed his enthusiasm, stating that the collaboration with Breaking Data presents a prime opportunity to advance their international expansion initiatives. Oryx, since its inception five years ago, has emerged as a leading provider of comprehensive solutions for prominent global gaming and betting brands.
Nick Sain, CEO of Breaking Data, will retain his leadership role at GiveMeSport. The proposed deal will be put to a vote by Breaking Data shareholders at their annual general meeting next month, requiring a minimum of 50% approval.
The acquisition remains contingent upon securing financing, obtaining approval from the TSX Venture Exchange, and fulfilling other closing stipulations.
Recent information indicates that further specifics regarding financial backing will be unveiled as events progress. The financial support might encompass equity, debt, or a combination of both.
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