Vancouver-based B2B daily fantasy sports platform provider Global Daily Fantasy Sports Inc. (GDFSI) has struck a deal to acquire European DFS operator Mondogoal.
On Friday, GDFSI announced its acquisition of Mondogoal’s operating assets, including intellectual property and trademarks as well as Mondogoal’s DFS B2B client contracts in Italy.
Mondogoal’s Italian client list includes Lottomatica and Sisal, and GDFSI says it has secured new agreements with each operator for additional two-year terms. GDFSI is a subsidiary of International Game Technology (IGT), which counts Lottomatica among its many subsidiaries, which likely helped smooth the transition no end.
Precise terms of the deal weren’t disclosed, with GDFSI saying only that the consideration consisted of “a small cash payment” plus common shares of GDFSI “having a value equal to net gaming revenues from the purchased assets over the next three years.“