Digital Agency

Snipp Interactive Plans To Acquire Gaming Agency Gambit Digital For US$5 Million

Snipp Interactive Plans To Acquire Gaming Agency Gambit Digital For US$5 Million
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Snipp Interactive Inc. (TSXV: SPN) Today I announced a binding agreement to acquire the Game Marketing Agency Gambit Digital Promotions Inc. The deal is valued at $5 million USD.

Under the terms of the agreement, consideration for the transaction will consist of $0.3 million in cash and $4.7 million in Snipp stock, valued on a volume-weighted average price.

Gambit Digital operates the gaming loyalty platform Gambit Rewards. The company is well-known for its solution of converting unused loyalty points into free tokens to play on various gaming platforms, some of which can provide real cash winnings or cryptocurrency winnings.

“By including loyalty games as an integral part of the SnippREWARDS module of our SnippCARE (Customer Acquisition, Retention, and Engagement) platform, we will be the exclusive means by which our Fortune 500 customer list (and other authorized distributors) can incentivize customers with Gift Cards to participate in iGaming and sports betting on the Gambit Loyalty Gaming platform,” said Snipp CEO Atul Sabharwal.

Snipp Interactive was last traded at $0.28 on TSX Venture but trading has been halted since the announcement.

Information for this brief was found via Sedar and the companies listed. The author has no securities or affiliations related to this organization. It is not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author does not hold any licenses.

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