Vincent Group set to be acquired by GAN: what this could mean for Coolbet
Following news that internet gaming software provider, GAN has reportedly agreed a deal to acquire Vincent Group, it has generated speculation that the latter’s Coolbet brand could really make its mark in the burgeoning US gambling market.
Essentially it really is Coolbet’s proprietary sports betting technology that is so appealing to GAN who have set their sights on integrating it into their own turnkey technology solutions by the third quarter of 2021.
The proposed deal is considered to be around USD177 million and is anticipated to close in the first quarter of 2021, following adequate regulatory review. Coolbet features a quantity of awards in the market and already has a significant foothold in the European, Canadian, and Latin American markets, with GAN, expected to capitalise on this even further.
With private equity financing thought as key to the offer, this will unlock a lot of capital for expansion and key penetration for what might be a very lucrative new market.
Potential Impacts on the US market
There's absolutely no doubt about the potential of Coolbet should this deal proceed through with no problems, whilst the election results could well have a dramatic impact on the usa sports betting industry.
Sports betting is a member of family newcomer in the usa with legislation only recently loosening, on a state-by-state basis, nevertheless , it really is clear to see that Coolbet can position themselves to make the most.
With so much sporting interest in the US across some events like the NFL, NBA, MLB and NHL with a huge following for each, there is no doubt this represents a great opportunity for an ambitious and growing brand.
Even though sports betting has been banned in the usa until recently, this was still rife among certain friendship circles and university students and given the sheer volume of people in the usa alone, this might absolutely be a highly lucrative market.
This may also cause a number of other new US sportsbooks appearing in the nation, which will be only a very important thing and implies that there's a genuine marketplace. It will likely be interesting to see what sports end up being the most popular with regards to betting activity and in addition whether this may eventually overtake the already well favoured daily fantasy sports betting industry in the united states.
It truly is an appealing move by GAN and really should this turn out to be successful it will likely be intriguing to see whether they make any other complementary purchases to offer the Coolbet brand the various tools that are had a need to grow even more.
Although it continues to be start, there is absolutely no doubt that may help to shape the ongoing future of market that has exciting potential.
Written for tobjl.info by Adiela de Bruyn on 18-11-2020