Gaming Innovation Group Inc. said Aug. 13 that it agreed to sell its business-to-consumer brand, Highroller, to Ellmount Gaming Ltd. for €7 million.
The Malta-based company said it will receive the payment in monthly installments over a period of 48 months, starting March 2020.
As part of the deal, Ellmount Gaming will operate Highroller using Gaming Innovation Group's platform services as a business-to-business customer of the company. Highroller will initially remain as an operator under Gaming Innovation Group's licenses until it receives regulatory approval to migrate to Ellmount Gaming.
Gaming Innovation added that it wants to improve its earnings and margins by boosting customer engagement and loyalty in its Rizk brand.
"The sale of Highroller is a confirmation of our discipline and focus as we are growing Rizk.Com to become a Tier 1 casino operator in select markets," CEO Robin Reed said in a statement. "Through this agreement, we gain increased cash flow, a strong B2B partner and Highroller will get the marketing muscle and focus it deserves."