Swifty Global Agrees to Acquire UK Sports Gambling Company Goldchip Limited
ear Cashmere Holding Company known as Swifty Global, is a technology company focused on creating groundbreaking solutions in the Financial and Sports Betting Sectors. The company has developed two disruptive mobile applications (apps) for sports predictions and a digital wallet which encompasses Artificial Intelligence (AI) and Cryptocurrency/Blockchain Transactions.
Swifty Global (Swifty) recently received its United Kingdom (UK) and Curacao gambling licenses and has been in final preparations for the launch of its Unique Sports Predictions app in the UK. The launch will take place once Swifty receives its GLI certificate, which certifies that its software meets UK and International Gambling standards. The company expects to receive this certification in the coming weeks. Once Swifty launches its sports predictions app in the UK, it will continue its roll out globally as the relevant licenses are obtained in each country or region/state.
In order to speed up its route to market and obtain critical mass to drive the company’s strategic growth plans, which include up listing to a major exchange as soon as possible, Swifty has come to an agreement to acquire renowned UK Sports Gambling company Goldchip Limited. Goldchip had revenues of $94 million and a net profit of $1.75 million in its 2021/22 financial year, a year which included substantial one-off costs. The company employs fourteen permanent staff operating out of Leeds in the United Kingdom and Swifty has hired three UK industry experts to oversee the development of its Sports Book. The Goldchip team will be complemented by Swifty’s fourteen-member in-house software development and implementation team.
Goldchip has nearly 750 high net worth VIP clients, including many famous celebrities and sports stars. An extensive list of decorated Premier league footballers are Goldchip clients, including several which are household names. Swifty hopes to grow this VIP sports book to 900 clients by the end of 2022. Simultaneously, Swifty will introduce its sports predictions app and casino in the near future to the Goldchip clients. Swifty is confident that it should obtain brand endorsements from several of Goldchip’s globally famous stars.
Goldchip recently faced a particular compliance problem with the UK Gambling Commission which led to a temporary suspension of its gambling license. The acquisition of assets by Swifty, which holds the required UK gambling license, resolves this problem. Through an almost seamless transition, Goldchip’s clients are allowed to migrate to Swifty’s UK gambling license with immediate effect.
Swifty is confident in its ability to grow Goldchip’s revenue and bottom-line profit substantially during 2022 and onwards. By leveraging its own in-house software technology, Swifty expects to significantly reduce Goldchip’s operating costs, thereby increasing profitability, and freeing up cash flow for growth.
Swifty confirms that its acquisition of Goldchip Limited is being funded partly in Cash, Restricted Shares and Vendor Finance.
In addition to this exciting acquisition which should add substantial value for Swifty’s Shareholders, the company is progressing well with its EMI banking license strategy. This will enable the issuing of Virtual banking cards from the Swifty Wallet when Swifty’s larger integrated Fintech solution materialises in the medium to long term. Given that Swifty is planning an aggressive expansion into the Fintech arena, the company is exploring several complementary Fintech acquisition opportunities, which it plans to complete after the launch of its sports predictions app.
The Swifty team is also working rapidly behind the scenes to become fully reporting and to be able to carry out its ticker and name change. This forms part of the company’s ongoing preparation for an up list at the most appropriate time when market conditions are suitable.
Swifty Global CEO, James Gibbons, commented: “Everyone is delighted about the acquisition and to have the Goldchip clients and team onboard. This is exactly the critical mass we need to put us on the fast track towards our bigger plans.”
Swifty Chairman, Nicolas Link, commented, “I’m delighted about this deal! The team have been working extremely hard to build this business and it’s fantastic to be able to put substantial tangible scores on the board with immediate effect, especially since the share price has had a tough time of late. With this deal, Swifty bypasses the next 3 milestones on its roadmap and becomes a serious player in the OTC, where there are not many businesses delivering nearly $100 million in annual revenues.”