NIO inc, which is listed on the Oslo Stock Exchange released the news that they are taking over the popular Netent Casino Guts.com and the parent company Gaming Innovation Group today. The “takeover” can be described as a “reverse takeover” as the shareholders in Guts will receive a whole bunch of newly pressed NIO shares as payment. This means liquid shares that they can sell as opposed to their former illiquid Guts stock. Basically a huge money-making deal for the Guts team.
This move comes as NIO is in the midst of launching their own casino Betspin.
This move is great by both NIO and Guts as they are now in a position to form a real big gaming company. The fact that they are a public company gives them access to capital, and the fact that they now have a successfull casino in their portfolio gives them credibility and cashflow.
The stock market seems to like the move aswell. The stock is up 15% as this article is being written.
NIO will then own Guts, newly launched Betspin, popular pokerforum Donkr.com and other smaller properties linked to iGaming. Will they be able to compete with other stock listed giants like Unibet and Betsson?