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Draft:Coolbet

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Coolbet is an online entertainment company offering sports betting, casino games, and poker services since its establishment in 2016. It operates as the B2C brand of GAN Limited, a provider of enterprise Software-as-a-Service (SaaS) solutions for online gaming.[1].

Coolbet's office in Porto Franco

Corporate history[edit]

Coolbet was founded in 2015 by Jan Svendsen in Tallinn, Estonia. Svendsen has a background in the i-gaming industry, including involvement with companies like Nordicbet, Triobet, and Tobet. The company initially launched in Sweden, Finland, Norway, and subsequently Estonia in 2016[2]

In 2018, Coolbet introduced poker services and launched the Coolbet Open, a live poker tournament held in Tallinn. The company also expanded its market presence to Iceland before the FIFA World Cup.

Coolbet further expanded internationally by entering the South American market through Chile and the North American market through Canada. This expansion continued with entries into Peru, Ecuador, and Mexico in subsequent years.

In January 2021, GAN Limited acquired Coolbet for €149.1 million ($175.9 million) [3]. This acquisition aimed to integrate Coolbet's sports betting technology into GAN's B2B offerings, enhancing services for the U.S. market In 2023, Coolbet launched its first Mobile Sportsbook B2B product in the U.S., serving clients like WynnBet. The acquisition of Coolbet is discussed in detail on the U.S. Securities and Exchange Commission (SEC) website, along with its financial reports [4].

The history of Coolbet can be read in more detail in an interview given to SBSAMERICA News [5]

Headquarters[edit]

In July 2023, Coolbet moved to a larger office in the Porto Franco area of Tallinn, Estonia, with a capacity for up to 400 employees[6]

Products[edit]

Coolbet operates the coolbet.com website in ten languages from its headquarters in Tallinn, Estonia, providing a variety of gaming and betting options.

Licensing[edit]

Coolbet is a licensed operator as per the Estonian Tax and Customs Board, ensuring compliance with local gambling regulations [7].

Sega Sammy[edit]

In November 2023, SEGA SAMMY HOLDINGS INC. and its subsidiary, SEGA SAMMY CREATION INC. (SSC), resolved to enter into a definitive agreement to acquire GAN Limited[8]. This acquisition aims to integrate GAN's technologies and solutions with SSC's gaming equipment and content for land-based casino operators in North America. The acquisition, expected to close by the third quarter of the fiscal year ending March 2025, is a part of SEGA SAMMY's broader strategy to expand its presence in the U.S. iGaming market.

Partnerships[edit]

Coolbet has formed several notable partnerships, including sponsorship agreements with sports teams and associations. In January 2023, Coolbet partnered with Colo Colo, a major Chilean football club [9] Additionally, Coolbet has engaged in various partnerships with football associations, such as the Estonian Football Association[10], and other sports organizations to promote its brand and services.

Interesting fact: Olympic sprint champion Andre De Grasse was named an ambassador for Coolbet in April 2022 [11]

References[edit]

  1. ^ "GAN Limited Announced Agreement to Acquire Coolbet". Nasdaq. 16.11.2020. Retrieved 05.06.2024. {{cite web}}: Check date values in: |access-date= and |date= (help)
  2. ^ Elliott, Martyn (November 4, 2021). ""Jan Svendsen to join Sports Betting Hall of Fame"". SBC News. Retrieved 05/06/2024. {{cite news}}: Check date values in: |access-date= (help)CS1 maint: url-status (link)
  3. ^ "Hedman Partners advised Vincent Group p.l.c ("Coolbet") on being acquired by GAN Limited for EUR 149.1 million - Hedman". Retrieved 2024-06-05.
  4. ^ www.sec.gov https://www.sec.gov/Archives/edgar/data/1799332/000149315221020845/ex99-1.htm. Retrieved 2024-06-05. {{cite web}}: Missing or empty |title= (help)
  5. ^ Orme-Claye, Ted (21.03.2023). ""Endre Nesset: Applying the Coolbet playbook to the significant potential of Mexico"". SBCAMERICAS. Retrieved 05.06.2024. {{cite news}}: Check date values in: |access-date= and |date= (help)
  6. ^ SIlver (2023-10-06). "Coolbet opens a new office in Porto Franco". Porto Franco. Retrieved 2024-06-05.
  7. ^ "List of legal gambling operators | Estonian Tax and Customs Board". www.emta.ee. Retrieved 2024-06-05.
  8. ^ "SEGA SAMMY CREATION to Acquire GAN Limited ~ Establishing a Gaming Business ~｜News Release｜SEGA SAMMY HOLDINGS". SEGA SAMMY CREATION to Acquire GAN Limited ~ Establishing a Gaming Business ~｜News Release｜SEGA SAMMY HOLDINGS. Retrieved 2024-06-05.
  9. ^ Sale, Jassie (January 12, 2023). ""Coolbet debuts as main sponsor of Colo Colo in record deal"". Football, Latest News, South America, Sportsbook. Retrieved 05/06/2024. {{cite news}}: Check date values in: |access-date= (help)CS1 maint: url-status (link)
  10. ^ "Eesti Jalgpalli Liit". jalgpall.ee (in Estonian). Retrieved 2024-06-05.
  11. ^ Press, Canadian. "Olympic sprint champion De Grasse named ambassador for Coolbet". Lethbridge News Now. Retrieved 2024-06-05.
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