GiG considers splitting into two public firms

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GiG considers splitting into two public firms

GiG has recently initiated a review as it is considering splitting into two public companies.

The firm intends on distributing the stocks of one of its subsidiaries, Innovation Labs Limited, to its current shareholders. This would break up the company into its two operating segments, media and development.

The former will consist of GiG’s lead generation subsidiaries, while the latter will include its iGaming platform services and its managed solutions.

The company has stated that this move will have the aim of enhancing its operations in each sector by giving the two companies independent business structures and models, which will help them grow more efficiently.

Lastly, GiG mentioned that the review will be carried out throughout the year and will be subject to investor approvals before being officially greenlit.

We believe that this split will enable us to reach our full potential and excel in our two business sectors. It will remove a number of obstacles that prevent us from increasing our efficiency, and will create exciting opportunities for the company and our investors.

commented the Chief Executive Officer of GiG, Richard Brown.

Our businesses in the two sectors have reached a level of maturity where it would make sense for us to evaluate the potential of letting them operate separately. We are eager to find out the results of our review in the near future.

stated the Chairman of GiG’s Board of Directors, Petter Nylander.