Gaming Innovation Group (GiG) just issued a press release that they sold Highroller Casino to Ellmount Gaming, the owner and operator of Casino Room. Highroller was the youngest brand of the GiG Group and was launched in December 2017 with a new gamification concept that saw players progressing through the districts of imaginary Metrocity. All activity in the casino earns players points which can be exchanged for free spins or other goodies in the rewards shop. To spice things up, the casino allows players to go on heists where they can collect coins from fellow players who have been inactive for too long.
Ellmount Gaming agreed to a purchase price of €7 million, payable in cash over 48 months, which sounds rather high for such a young casino that by now will have barely crossed the profitability line. They will keep operating the casino under a B2B agreement on the GiG platform and under the existing licenses from MGA Malta, the UK Gambling Commission and the Swedish Spelinspektionen.
From GiG’s CEO Robin Reed: “The sale of Highroller is a confirmation of our discipline and focus as we are growing Rizk to become a Tier 1 casino operator in select markets. Through this agreement, we gain increased cash flow, a strong B2B partner and Highroller will get the marketing muscle and focus it deserves. The brand was launched only two years ago and with this sale, it has returned three-digit ROI for GiG. I am looking forward to seeing the brand prosper in the hands of very capable owners, empowered by our full suite of products and services.”
The sale caught us by surprise here at GMBLRS as Ellmount left the UK market just a few weeks earlier by surrendering its licence for Casino Room, which raises the question what they are planning for the future of Highroller. They had no sanctions or penalties on their licence, showing that they operated with integrity and the necessary care. Casino Room has been around since 2005 as a standalone casino and has earned a reputation for generous promotions, professional support as well as fast and reliable payments.
The UK has become one of the toughest markets to operate an online casino in and logic tells us that you wouldn’t want to return that quickly after making the decision to leave it. I guess, the next weeks and months will bring more clarity as to what Ellmount’s plans will be.