Swifty Global has agreed to purchase sports betting firm Goldchip

Swifty Global has agreed to purchase sports betting firm Goldchip

Swifty has reached an agreement to acquire the well-known UK sports betting company Goldchip Limited to expedite its route to market and obtain the critical mass necessary to drive the company’s strategic growth plans

Swifty Global is a technology business whose primary mission is to provide innovative solutions for clients in the financial and sports betting industries. 

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About the acquisition

These plans include an expedited listing to a major exchange as soon as it is possible. Goldchip’s financial year 2021/22, which included significant one-time expenditures, resulted in sales of $94 million and a net profit of $1.75 million. The year also saw the company incur huge one-time charges. Swifty has engaged three industry veterans from the United Kingdom to manage the development of its Sports Book. The firm has a total of fourteen permanent employees and operates out of Leeds, which is located in the United Kingdom. Swifty’s in-house software development and implementation team, which will consist of fourteen members, will provide additional support to the Goldchip team.

Getting support from Goldchip clients

Goldchip boasts almost 750 high-net-worth VIP clientele, many of them are well-known athletes and celebrities from a variety of fields. Goldchip’s client roster includes a long list of illustrious footballers who play in the Premier League; among them are some players whose names are familiar to the general public. Swifty’s goal is to increase the number of VIP customers at this sports book to 900 by the end of 2022. At the same time, Swifty will simultaneously release its sports predictions app and casino to the Goldchip customers in the not too distant future. Swifty is certain that it will be able to get sponsorships for its brand from a number of Goldchip’s internationally renowned athletes and musicians.

Swifty looking to expand in sports betting markets

 

Recently, Goldchip was confronted with a specific compliance issue with the UK Gaming Commission, which resulted in the temporary suspension of the company’s gambling license. This issue is remedied when Swifty, which has the mandatory gaming license for the United Kingdom, purchases the relevant assets. Clients of Goldchip are given the opportunity to transfer to Swifty’s UK gaming license with immediate effect via a transition that is almost as smooth as possible. Swifty is confident in its potential to significantly increase both Goldchip’s top-line revenue and bottom-line profit beginning in 2022 and continuing beyond that year. Swifty anticipates that it will be able to drastically cut Goldchip’s operational expenses by using its own in-house software technologies. This will lead to an increase in profitability and will free up cashflow for the company’s expansion. Swifty has announced that the funding for its purchase of Goldchip Limited would be partially provided in the form of cash, restricted shares, and vendor finance.

In addition to this exciting purchase, which should generate significant value for Swifty’s Shareholders, the firm is making good progress with its objective to get an EMI banking license. When Swifty’s bigger integrated Fintech solution comes to fruition in the medium to long term, this feature will make it possible for users to issue Virtual Banking Cards directly from their Swifty Wallet. After the launch of its sports predictions software, Swifty intends to pursue various complementary acquisition prospects inside the Fintech industry. This is due to the fact that Swifty is planned an aggressive expansion into the Fintech industry. Behind the scenes, the Swifty team is also working hard to become fully reporting and to be ready to carry out its ticker and name change as soon as possible. This is a necessary step in the company’s continued preparation for an up list, which will take place at the most opportune moment and when market circumstances are favorable.

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About Lou De Aguila

Lou Aguila is a contributor to Golden Casino News. For over a decade, Lou has published news and featured articles for some of the most reputable sports betting and online casino sites in the world, including BetNow.UK, VegasOdds, and BWin. Apart from being a hardcore live casino punter, he also covers sports stories in North American leagues from time to time.