GiG will assess the company spin-off to “unleash new possibilities”.
Games Innovation Group is seeking to “remove barriers and unlock new opportunities” after beginning a strategic review that could split the group into two independent listed companies.
The Malta-based company’s board said it made the move with the intention of distributing its Innovation Labs subsidiary to shareholders.
It is said that the review will be launched immediately and will continue throughout the year, with an initial focus on defining the strategic and operational objectives that must be achieved in order to execute the spin-off.
Final implementation will be subject to all necessary corporate actions, including shareholder approval.
Petter NylanderChairman of the Board, said: “Each of our platform and media businesses has reached such maturity that it makes perfect sense to assess a potential spin-off.
“We look forward to launching the review and seeing how we can maximize operational performance and shareholder value. »
This move would separate GiG into two main business divisions, the first being media services which would include lead generation businesses that generate online gaming leads through online media buys and publications.
In addition, the platform and sports betting segment would include technical gambling platforms, including Sportnco, front-end development and other managed services, such as player security, customer operations and CRM/marketing.
According to GiG, the goal is to “better target” each of the segments, optimize growth opportunities and ensure that each of them can benefit from the strategic and financial flexibility of their business models.
Richard BrownRichard Brown, CEO of GiG, added: “This is a very exciting time, both for the company and its employees, but also for the shareholders of GiG.
“I strongly believe that a spin-off has the potential to break down barriers and unlock new opportunities for every business segment and that we can create two very successful businesses. »