Dear Cashmere Holding Company, which trades as Swifty Global, has reached an agreement to acquire UK-based sports betting operator, Goldchip. The deal is intended to accelerate Swifty’s route to market as it grows its critical mass and seeks an early market listing.
In 2021/22, Goldchip had revenues of £75m and a net profit of £1.4m after substantial one-off costs. The company employs 14 permanent staff, who will join Swifty’s own team of 14 software development and implementation specialists.
Goldchip has almost 750 high net worth VIP clients and the aim is to grow this VIP sports book to 900 clients by the end of this year, supported by the introduction of Swifty’s online gaming content and sports predictions app.
Swifty is licensed by both the UK and Curacao and has developed two mobile apps for sports prediction and a digital wallet which encompasses AI and crypto/blockchain transactions.
Swifty Global CEO, James Gibbons, commented: “This acquisition is exactly the critical mass we need to put us on the fast track towards our bigger plans.”