November 19, 2020

GAN to acquire Coolbet for €149 million

GAN to acquire Coolbet for  €149 million

Gambling software supplier GAN Limited has just signed an agreement acquiring Vincent Group (Coolbet) for €149 million.

The acquisition is expected to be finalized in the first quarter of 2021, subject to regulatory review and the compliance to certain closing conditions.

“From the onset of our IPO we have continued to enhance and perfect our internet gaming software-as-a-service solutions for the U.S. market,” Dermot Smurfit, GAN CEO, said.

“As part of that growth strategy, we have been clear that we needed to add a best-in-class sportsbook engine to round out our real money iGaming platform, and we believe Coolbet is the perfect fit for both GAN and our customers,” he added.

Launched in early 2016 in a hypercompetitive online market in Northern Europe, Coolbet eventually expanded into LatAm and Canada in the last two years.

Ever since its launch, Coolbet has established itself as having one of the best sportsbook offering in the market today.

“Its award-winning user interfeace and proprietary technical platform will enable us to quickly introduce the sportsbook offering to our land-based casino customers across the U.S., who need a flexible and customizable solution to online gaming,” Smurfit said.

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