HeadsUp completes the purchase of Spinola

HeadsUp completes the purchase of Spinola

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HeadsUp completes the purchase of Spinola

HeadsUp announced that they finished the purchase of Spinola Gaming, a software solution.

HeadsUp also finished the buyout of third-party shareholdings in the brand and is prepared to go forward and complete all the agreements with Spinola.

The shares’ buyout was important to enable HeadsUp to fully purchase the brand and the assets, along with different European and Latin American licenses.

At the moment, Spinola operates in a few important markets in particular Brazil, Columbia and Peru as those areas are promising and have a chance for the development of the lottery. The brand is planning to release brand-new programs in 6 African nations in the course of this year’s Q4. Spinola has a goal to release the 1st national lottery in the UAE.

According to an evaluation done by HeadsUp, the contracts might produce 150 million dollars in profit with the possibility of expanding negotiated contracts.

Heads Up has ordered 2 independent appraisals of the purchase at the time of the due diligence process, as a result of which the transaction amount was 65 million and 72 million dollars.

HeadsUp stated that they are going to have a set of new contracts via the purchase of Spinola.

Additionally, last month HeadsUp bought LotteryHub therefore the brand is going to be in charge of the lottery data platform in order to grow around the world.

With LotteryHub, HeadsUp is planning to be the 1st lottery marketplace solution around the world․

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