Gaming Innovation Group (GiG) has received €4.7 million in funding from Hong Kong-based Hatcher Global, giving the company a financial source to support its future growth and...
SkyCity to sell GiG stake for NZ$55 million
SkyCity Entertainment Group has stated that it will sell its full stake in Gaming Innovation Group (GiG), which it bought in April 2022.
GiG is a European-based online gambling platform provider and media services operator via which SkyCity operates its SkyCity Online Casino (located in Malta).
In a note issued on Tuesday, the group stated that SkyCity has decided to sell its stake in GiG since it is non-core to its ongoing operations and is no longer regarded strategically vital for SkyCity.
The group anticipates net sales of around NZ$55 million after brokerage and legal fees. The corporation initially paid around NZ$40 million for its stake in GiG. The funds are planned to be utilized to pay down the group’s debt as part of its ongoing cautious capital management approach.
Jonathan Gauci, the former SVP of Engineering at Gaming Innovation Group (GiG), has introduced a new casino platform: Elantil.During his time at GiG since 2019, Gauci has...
