TGS Baltic has advised Gan Limited on the acquisition of the Coolbet online gaming platform from the Vincent Group. Hedman Partners and Morgan, Lewis & Bockius advised the Vincent Group on the deal.
The transaction remains contingent on regulatory approval and is expected to close in the first quarter of 2021.
Gan Limited is a US Nasdaq-listed business-to-business supplier of Internet gaming software-as-a-service solutions, primarily to the US land-based casino industry.
Vincent Group is a Maltese public limited company that operates an online gaming platform under the flagship brand Coolbet. According to TGS Baltic, “Coolbet’s proprietary platform was uniquely developed in-house and offers online real-money gaming in sports, casino, poker, and virtual e-sports. Currently, Coolbet has gambling licenses in Estonia, Sweden, and Malta.”
TGS Baltic’s team included Partner Kadri Kallas, Senior Associates Elina Varendi and Mari-Liis Orav, Junior Counsel Mirko Kikkamagi, and Associate Mari Anne Valberg.
The Hedman Partners team included Managing Partner Merlin Seeman, Partner Valter Vohma, and Senior Associate Kati Pino.