WELLINGTON, New Zealand–New Zealand casino operator Skycity Entertainment Group Ltd. is establishing a toehold in global online gambling with an investment in Gaming Innovation Group Inc.
Skycity, which has casinos in New Zealand and the Australian city of Adelaide, said it will become the largest shareholder in Gaming Innovation Group. The company–headquartered in Malta and incorporated in Delaware–provides the technology for online casinos and sports betting in Europe and North and South America, and also operates websites that lure customers to online casinos.
Skycity’s investment of about 25 million euros ($28.3 million) will give it an 11% stake in Gaming Innovation Group and support that company’s acquisition of European sports betting company Sportnco.
The investment is a low-cost and low-risk exposure to significant growth expected in online gambling, Skycity said. Its New Zealand online casino uses Gaming Innovation Group’s platform.
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