The owner of internet casino Guts has announced that it has been acquired by Nio Inc.
The deal is pending regulatory and shareholder approval, but will see Gaming Innovation Group becoming a subsidiary of Nio. After the acquisition is complete, Gaming Innovation will continue to operate as an independent firm, managing the sites it currently oversees.
While the agreement is being fleshed out, Nio and Gaming Innovation will work on synchronizing their operations while also working on increasing their marketing efforts.
Commenting on the deal Nio CEO Kjetil Myrlid Aasen said, “The agreement strengthens Nio’s iGaming position, capabilities and value creation potential."
GiG Managing Director Robin Reed added: "GiG is teaming up with NIO with a clear vision – combining valuable iGaming knowledge and experience to create a platform for investments in industry leading people, products and services."