Hilco Streambank has announced an exciting opportunity for investors and companies in the iGaming sector: the auction of seven EBet iGaming, online casino, and sports betting brands. The public auction will take place via Zoom on August 1, offering a unique chance to acquire established brands in the rapidly growing online gaming market.
Hilco Streambank Announces Auction for Seven EBet iGaming Brands
Brands Up for Auction
The seven EBet brands available for bidding include:
- BetTarget
- Dansk 777
- Griffon Casino
- Generation VIP
- Karamba
- Hopa
- Scratch2Cash
These brands have demonstrated significant market presence and financial performance. As of March 2024, they collectively generated a last twelve months (LTM) revenue of $21 million.
Auction Details
Bids will be received by Hilco Streambank on July 30, with the public auction taking place on August 1. The buyer may be entitled to acquire various rights, including domain names, trademarks, patents, copyrights, and customer data as part of the foreclosure sale.
Strategic Value
Richelle Kalnit, Chief Commercial Officer at Hilco Streambank, emphasized the strategic value of this auction: “A buyer of the assets has the opportunity to tap into a rapidly growing online gaming market and to expand upon the brands’ success by emphasizing and/or re-entering certain markets, re-engaging the large player database, and optimizing software and marketing operations.”
Notable Brand Histories
Among the brands up for auction, Karamba has had a notable history, including the 2018 banning of its “Starburst Strategy” advertisement by the Advertising Standards Authority following a complaint. Another brand, BetTarget, gained visibility as the official sponsor of the Bare Knuckle Fighting Championship event at Wembley Stadium in August 2022.
About Hilco Streambank
Hilco Streambank is a leading intellectual property advisory firm, renowned for managing high-profile IP sales. In March, the firm also sought offers to acquire the brand assets of United States-based home furnishing brand Klaussner, highlighting its extensive expertise in the IP market.
Conclusion: The Auction
The upcoming auction of EBet’s iGaming brands by Hilco Streambank presents a rare and lucrative opportunity for investors and companies in the online gaming sector. With well-established brands generating substantial revenue, the auction is set to attract significant interest from potential buyers looking to capitalize on the expanding online gaming market. Interested parties are encouraged to submit their bids by July 30 and participate in the Zoom auction on August 1 to secure these valuable assets.
FAQs About the Hilco Streambank’s Auction of EBet iGaming Brands
1. What is Hilco Streambank auctioning?
Hilco Streambank is auctioning seven EBet iGaming, online casino, and sports betting brands, including BetTarget, Dansk 777, Griffon Casino, Generation VIP, Karamba, Hopa, and Scratch2Cash.
2. When and how will the auction take place?
The auction will take place via Zoom on August 1. Bids must be submitted to Hilco Streambank by July 30.
3. What is the financial performance of these brands?
As of March 2024, these brands collectively generated a last twelve months (LTM) revenue of $21 million.
4. What rights will the buyer acquire?
The buyer may acquire rights including domain names, trademarks, patents, copyrights, and customer data as part of the foreclosure sale.
5. What strategic opportunities does this auction offer?
Richelle Kalnit, CCO at Hilco Streambank, mentioned that the buyer can tap into a rapidly growing online gaming market, expand into new markets, re-engage the player database, and optimize software and marketing operations.
6. What is notable about Karamba and BetTarget among the auctioned brands?
Karamba had its “Starburst Strategy” advertisement banned by the Advertising Standards Authority in 2018, and BetTarget was the official sponsor of the Bare Knuckle Fighting Championship event at Wembley Stadium in August 2022.
7. Who is Hilco Streambank?
Hilco Streambank is an intellectual property advisory firm known for managing high-profile IP sales, including the recent auction of EBet brands and seeking offers for the brand assets of Klaussner.
8. How can potential buyers participate in the auction?
Potential buyers can submit their bids by July 30 and participate in the Zoom auction on August 1 to potentially acquire these valuable iGaming brands.
9. What sectors are involved in this auction?
This auction primarily involves the iGaming, online casino, and sports betting sectors.
10. What should interested parties do to prepare for the auction?
Interested parties should review the auction details, prepare their bids, and ensure they are ready to participate in the Zoom auction on August 1 to compete for these sought-after brand assets.
