In a report on the most recent M&A deals in the gaming industry, iGB examines Greenlite Ventures’ acquisition of No Limit Technology as well as Clairvest Partners’ partnership with ECL Entertainment for the purchase Wyoming Downs.
The two M&A transactions were announced in the last few days. Clairvest and Greenlite both did not reveal financial information about the Wyoming Downs acquisition.
The company anticipates that its purchase of No Limit will be completed after a due diligence period lasting 30 to 45 days. NLTH is a sports betting specialist, mainly through its “No Limit Betting Exchange”.
NLTH offers a daily fantasy platform, and customers can use cryptocurrency including NoLimitCoin.
If the merger proceeds as planned, Rafael Groswirt founder of NLTH will be appointed CEO.
Greenlite and NLTH also work on creating synergies that will support their enlarged businesses moving forward. It includes strategic media partnership, podcast initiatives, and celebrity collaborations.
Greenlite Chairman Russell Elbaum stated that the timing for this alliance could not be more perfect. With the launch of Defo’s ‘Bury Your Bookie,’ we are primed to bring significant traffic daily to No Limit Exchanges and Platforms.
Groswirt continued: “Greenlite gives No Limit the platform and resources necessary to establish ourselves amongst the giants of the industry. Greenlite’s management team and its largest shareholders have extensive connections in sports and the media, which allows us to white label and partner with the industry’s biggest names.
Together, we are committed to seizing all the opportunities ahead.
Clairvest, ECL and Wyoming Downs close the gap
Clairvest, an investment firm, is teaming up with ECL Entertainment in order to buy Wyoming Downs. Wyoming Downs operates a horse race track and offers off-track betting.
Wyoming Downs started live racing in the 1980s. In 2013, the group began operating OTB. The group now operates 19 gaming locations in the state with over 1,100 terminals.
ECL is a gaming asset owner and operator of historic horse racing in Kentucky. Clairvest and ECL have partnered on the Wyoming Downs acquisition for the second time in HHR.
Michael Wagman, Clairvest’s president and managing directors said that Wyoming Downs was a great entertainment venue. We believe that it will support both the local community as well as the equine sector positively.
Marc Falcone, Ron Winchell and the co-managing partner of ECL added, “We are looking forward to continuing to build upon Wyoming Downs’ success and we will continue to enhance the offerings across the state in the coming years, with the Clairvest Team.”
The horse racing industry and the HHR gambling operations in Wyoming are a great opportunity and we’re excited to bring all of our horse racing experience and HHR expertise to this Cowboy State.
