Home In-Depth GiG purchases KaFe Rocks at EUR35m

GiG purchases KaFe Rocks at EUR35m

by Bela Ksovreli
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Gaming Innovation Group has signed an agreement with KaFe Rocks to purchase the affiliate for EUR35m ($37.4m/£30.5m).

Four semi-annual payments will finance the deal over 24 months. GiG pays EUR15m in advance and EUR20m throughout the remainder of the contract.

The business that acquired the company said it would “increase its presence on the lucrative North American market”.

Rebranding & Financials

GiG has acquired all KaFe Rocks brands, including Time2play.com (facing the US) and USCasino.com.

In June of last year, Time2Play Media announced its rebranding. The business is still known as KaFe Rocks Ltd.

In 2024, the affiliate expects KaFe Rocks to produce a revenue minimum of EUR23m with an EBITDA Margin above 45%. The acquisition would have an EV/EBITDA multiplier of approximately 3.6x.

GiG anticipates that the acquisition of the company will improve the customer, market and website concentration as well as reduce the overall risk.

The investment is expected to have a positive impact on GiG Media’s revenue, which will be between EUR125m-EUR135m by 2024.

RB Capital acted for KaFe Rocks as a sell-side advisor in the transaction.

North American Growth

Jonas Warrer said that the GiG CEO’s commitment to remain a leader in North America and grow its business is reflected by this acquisition.

He added, “Our purchase of KaFe Rocks confirms these goals.” After the successful integration AskGamblers we were looking for the perfect candidate to add the KaFe Rocks family.

He continued, “[Kafe Rocks]’ reputable affiliate assets [will] undoubtedly drive the growth of the larger group.” I am looking forward to working with the KaFe Rocks Team.

The new heights

Aimee Spight, KaFe Rocks spokesperson added that this sale was a “momentous event for KaFe Rocks”.

She added, “We looked at several potential buyers and were convinced to choose GiG Media because of the excellent performance that the company had shown in the past few years.”

We are confident that Kafe Rocks will grow in new directions with GiG Media.


GiG has acquired its second affiliate casino in 2023, after completing the acquisition of AskGamblers.com back in January. GiG initially paid EUR20m, with additional payments of EUR10m & EUR15m due on 31st January 2024 & 2025.

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