Intema set to finalise Loot.Bet acquisition after Isle of Man approval – Strategy

Intema Solutions Expands Footprint in the iGaming Sector with Isle of Man License Acquisition

Intema Solutions, a prominent player in the esports and iGaming landscape, has officially secured an online gaming license from the Isle of Man. This milestone is a crucial step in the completion of its acquisition of Livestream Gaming Inc., the parent company of the well-known gaming platform, Loot.Bet.

The acquisition deal, valued at up to $14.8 million (£11.1 million/€13.3 million), was first announced in May 2021. As part of this strategic move, Intema is set to pay $8.0 million in cash, with an additional $4.0 million facilitated through a secured vendor take-back note. The transaction will also include the issuance of 6,470,588 common shares of Intema.

Further financial incentives are on the horizon, with an extra $3.0 million contingent on Livestream achieving a gross gaming revenue (GGR) of $7.5 million within the first 12 months post-acquisition. Moreover, an additional $1.5 million will be available if Intema’s GGR reaches $11.3 million during the 13-to-24 month period following the closure of the deal.

Upon receiving the license, Laurent Benezra, President and CEO of Intema, emphasized the extensive growth opportunities this acquisition presents. “While the process has taken longer than anticipated, Loot.Bet represents a significant online gaming platform integral to Intema’s growth strategy,” Benezra stated.

He added, “During the acquisition process, we have simultaneously built our esports and iGaming ecosystem, and bringing Loot.Bet into our fold will substantially accelerate our progress.”

This acquisition follows Intema’s earlier move in September 2021 when it successfully acquired Team Bloodhounds, the proprietors of the Canadian esports brand Team BH. This strategic expansion underscores Intema’s commitment to enhancing its market presence and establishing a robust iGaming and esports infrastructure.

As the gambling industry evolves, the importance of strategic acquisitions and regulatory compliance becomes paramount. Intema’s successful navigation of these challenges highlights its dedication to innovation and growth in this dynamic sector.