BDK Advokati, working with Gernandt & Danielsson, has advised Catena Media on the sale of its AskGamblers business and associated casino brands to the Gaming Innovation Group for EUR 45 million.
The transaction is expected to close in the first quarter of 2023.
Catena Media is a company specializing in online gambling.
The Gaming Innovation Group is an Oslo Stock Exchange-listed gaming company offering cloud-based product and platform services and performance marketing to its B2B partners.
According to BDK Advokati, "by this transaction, Catena Media is selling two wholly owned subsidiaries in Malta and Serbia that operate the AskGamblers brand and the associated online casino brands JohnSlots and NewCasinos."
"Today's agreement is a major step on our journey to focus the business on online sports betting and casino affiliation in high-growth, regulated markets in the Americas," said Catena Media CEO Michael Daly. "I am confident that in the Gaming Innovation Group, we have found a buyer that will provide a strong environment for AskGamblers and the other brands and their talented people to develop and grow."
"We are extremely excited to take over the AskGamblers brand," added Gaming Innovation Group CEO Richard Brown. "Combining it with our media technology and operational capabilities provides a great opportunity to expand our global reach and to deliver a path for AskGamblers to continue with its strong evolution. We look forward to integrating the staff and website assets into GiG."
BDK Advokati’s team included Senior Partner Vladimir Dasic, Counsel Tomislav Popovic, and Senior Associates Marija Gligorevic and Djordje Zejak.
BDK Advokati was unable to provide additional information on the deal.