According to an official press release, Spiffbet will raise capital of a total of EUR 225,000 until August 2021, acquiring 45.2% in the joint venture. The goal is for Copacabana Gaming -that in total has 12 employees- to reach profitability in 2021. Staffan Cnattingius will be responsible for running Copacabana Gaming's operations.
The games will be distributed by Spiffbet's game server and, therefore, it is natural to coordinate the sale of Copacabana Gaming games by Spiffbet, which acts as a counterpart to affiliated operators and distributors.
“The investment in Copacabana Gaming is a high priority business for our gaming development business, and is in line with our growth in emerging markets, such as Latin America. Copacabana Gaming has a very creative and competent team, which will be an important part to establish Spiffbet as a supplier to count on in the Latin American market,” commented Henrik Svensson, Spiffbet's CEO.
“I'm really looking forward to being able to offer Copabana Gaming developments through our game server. My ambition is also that we can collaborate with Copacabana Gaming and the owners of NGT Interactive in a future launch of a planned gaming operator business in Latin America," added Svensson.
Business and Sales Manager at Spiffbet/Copacabana Gaming, Staffan Cnattingius, comments: “Proper local expertise is a prerequisite for success in both game development and gaming operator operations. With our partners in NGT and the team that runs the game development in Copacabana Gaming, we have now really got a great future in Latin America. I am now looking forward to stepping up the process of launching new fun games together with all dedicated Copacabana Gaming employees.”
“Through the investment from Spiffbet, we will gain both financial resources and access to Spiffbet's technology platform and sales organization. Together, all of this gives us good conditions to execute the plan we have developed to continuously provide the Latin American market with entertaining games adapted to local preferences,” adds NGT Interactive's spokesperson Edgar Lenzi.
Through the investment agreement, the following parties become partners in Copacabana Gaming: Spiffbet, NGT Brasil and Staffan Cnattingius through companies. NGT Brasil transfers all shares in Copacabana Gaming to Lagoa Entertainment AB ("Lagoa"). When signing an investment agreement, Spiffbet will contribute € 45,000 and 14 days thereafter it will contribute another € 45,000. During the following 15 months, payments of EUR 9,000 per month will be made. Spiffbet thus raises a total capital of 225,000 euros.
Source: GMB / Di.se
