Financial and sports betting technology company Swifty Global has announced an agreement to acquire UK sports gambling company Goldchip
Financial and sports betting technology society Swifty Global has proclaimed an understanding to acquire UK sports gambling accompany Goldchip.
The arrangement comes as Swifty Global aims to speed its market access, after of late beingness sanctioned for UK and Curaçao gaming licences. The keep company is countersink to launch a sports prevision app in the UK, with the Goldchip acquisition intentional to bread and butter this process.
While detailed financial terms of the accord were non disclosed, Swifty Global confirmed that the acquisition is beingness funded through and through a compounding of cash, qualified shares and vendor finance.
James Gibbons, Swifty Global CEO, said of the agreement: “Everyone is delighted most the acquisition and to have the Goldchip clients and team up on board. This is exactly the vital mass we demand to position us on the fasting caterpillar track towards our bigger plans.”
Goldchip reported revenue of $94m and a sack turn a profit of $1.75m in the 2021/22 financial year, and is an constituted companionship that boasts nearly 750 VIP clients, among them celebrities and sports stars.
In a statement, Swifty Global elaborate aims to “grow this VIP sportsbook to 900 clients by the terminal of 2022.”
The financial statement went on to outline plans to bring out the Swifty Global sports prognostication app and gambling casino to the existing Goldchip client base.
Goldchip was the content of a licence temporary removal by the Gambling Commission in conclusion month, pending a review into the procedure of the company.
Comprehensive inside information of the critique were non released; withal it was alleged that Goldchip was operating wayward to conditions set come out inwards the Gambling Act 2005.
Swifty Global said inwards its statement that the acquisition of Goldchip assets would cater an prompt resolution to this licence suspension.