The parent company of the online betting site GR88 has been purchased by Coastal Integrated Services, a company that is known for producing disposable coffee lids.
The deal will see CIS purchasing a 100% stake of the Olympian Group. and the group will push hard in marketing the online betting site in the Asian betting market. The agreement will see the company reorganized and eventually listed on the NASDAQ exchange.
Commenting on the deal CIS CEO Clifford Redekop said, "Olympian's Sportsbetting and Casino brand Gr88, was originally conceptualized as an Asian gaming site in 2009, and now with over 6 years of successful gaming operations, our team feels very strongly that the timing is perfect for the full B2C push into Asia."
"We know we have something special with this brand and will focus on Gr88 as our flagship site with significant marketing and driving brand recognition."