NIO Invests in EPG

Nio Inc.’s subsidiary Gaming Innovation Group (GIG) has entered into agreement to acquire 10 percent of the shares in the payment gateway Easy Payment Gateway (EPG). Following the investment, GIG can offer an integrated industry leading payment solution with its iGaming Cloud software platform.
Nio entered into agreement to acquire Gaming Innovation Group in February this year to strengthen its iGaming position, capabilities and value creation potential. Furthermore, the EPG payment solution will now be powering the cashier of the Company’s gaming sites Betspin.com and Guts.com.
GIG regard EPG the best and most innovative payment gateway for the iGaming industry. The individuals behind EPG have extensive experience in building high availability, high capacity software systems for the online industry and the payment solution is developed internally in EPG.
In total, the introduction of and partnership with EPG is considered to improve GIG’s competitive position significantly.
“EPG has developed the most attractive payment solutions in the gaming industry. Through this investment we will be able to add this solution to our iGaming Cloud platform, providing one integration point to more than 100 banks and finance institutions. Further it will strengthen the user experience of Guts and Betspin, and the capability of our B2B industry Cloud offering”, says managing director Robin Reed of Gaming Innovation Group.
Under the agreement, GIG will invest GBP 500,000 and get a 10 percent ownership in EPG. Furthermore GIG has an option to acquire an additional 15 percent of the EPG shares within 2 years. The first EPG investment is expected to be completed during May 2015. The transaction is fully funded.
iGamingCloud (iGC) was launched to the wider gaming industry in February. iGC is a client management platform with potential to be a game changer for the wider community of the iGaming industry as its two core functions are to eliminate technological bottlenecks and significantly reduce costs for operators and white labels alike.
In April GIG entered into an agreement worth EUR 300,000 for the first rolling 12 month with the first external user of the iGaming Cloud platform. In addition the Company’s own operated gaming sites, Betspin.com and Guts.com, are both growing and showing a positive development in its key business metrics. The Company expect to continue its progress both strategically and operationally in the time ahead.