After securing a license from the Malta Gaming Authority (MGA), lottery newcomer, Megalotto, has gone live across multiple markets in its effort to “redefine” the online lottery experience of its customers.
Backed by venture capital company Optimizer Invest, the new online lottery and gaming business will launch its mobile-first lottery product on the Gaming Innovation Group (GiG) (GIG:Oslo) platform.
“Megalotto will give millions of players access to lotteries on a global scale in a mobile-first environment.”
According to a recent press release…
…the St. Julian’s-headquartered business will be a unique brand within the online lottery vertical as its product is a departure from traditional transactional lottery products while its interface is intuitive for ease of use.
In addition to offering the largest jackpots from top lotteries around the world, Megalotto will also have on offer scratchcards, slots and instant win content, from well-known third-party suppliers.
“We are delighted to be going live with our new venture and to get our product in front of customers, said Megatotto’s Chief Executive Officer, Grant Williams.
“Our vision from day one has been to design and build an innovative and disruptive lottery product, and we believe we are on track to do just that. We have recruited a high quality, experienced management team to lead the launch of this new Optimizer Invest backed product, matching the ambitious plans we have in place for the markets we will be targeting, added Williams.”
Also commenting on the recent tie-up, Chief Executive Officer for Optimizer Invest, Petter Moldenius, said…
“The innovative Megalotto product is the result of a successful partnership between two of our portfolio companies, bringing a world class, truly customer friendly experience. Megalotto will give millions of players access to lotteries on a global scale in a mobile-first environment that is pushing the envelope for innovation of iGaming experiences on-the-go.”
Betsson acquisition:
In related news…
…Swedish holding company, Betsson AB (BETSB:Stockholm), has reportedly acquired Gaming Innovation Group subsidiary Zecure Gaming Limited, which operates its inhouse brands in Sweden.
The approximately €31m (US$33.6 million) deal, which consists of a €22.3 million cash payment, plus a prepaid platform fee of €8.7 million, has seen the transfer of GiG brands – Guts, Kaboo, Rizk and Thrills – to the Stockholm-headquartered company. The brands operate under licenses held in Malta, UK, Sweden and Germany (Schleswig-Holstein).
According to the press release, the Rizk brand will be launching under licenses held in Croatia and Spain.?In addition to gaining opportunities with other brands in the two European countries, Betsson plans to integrate its own payment platforms and proprietary sportsbook with the GiG platform. The move will allow the holding company to offer its advanced technologies to potential B2B clients of the platform.
Growth potential:
Commenting on the acquisition, Chief Executive Officer for Betsson AB and Group President, Pontus Lindwall, said…
“Betsson’s ambition is to outgrow the market in the long term, organically and through acquisitions. This acquisition confirms that Betsson is a driver of the consolidation of the market. We believe this deal offers a good opportunity for Betsson to consolidate, at good value, where we can create synergies and apply our core B2C skills and marketing insights to scale these assets to their true potential. The agreement with GiG further strengthens and expands Betsson’s outreach and growth potential for its proprietary sportsbook and payments platforms in the B2B market. As one of the largest European operators, Betsson is well positioned to continue building on its strategic position.”