Hilco Streambank to Auction BetTarget and Karamba iGaming Brands

Hilco Streambank plans to auction seven EBet iGaming, online casino, and sports betting brands, including BetTarget, Dansk 777, Griffon Casino, Generation VIP, Karamba, Hopa, and Scratch2Cash. These brands collectively generated $21 million in revenue over the last twelve months, as of March 2024. Bids are due by July 30 for the Zoom-based auction scheduled for August 1.

The buyer may acquire rights to domain names, trademarks, patents, copyrights, and customer data as part of the foreclosure sale.

Richelle Kalnit, CCO of Hilco Streambank, highlighted the opportunity for buyers to enter the rapidly growing online gaming market and enhance the brands’ success by targeting specific markets, reconnecting with a large player base, and optimizing software and marketing strategies.

One of the brands, Karamba, faced a ban on its ‘Starburst Strategy’ advertisement by the Advertising Standards Authority in 2018 following a complaint. Additionally, BetTarget served as the official sponsor of the Bare Knuckle Fighting Championship Wembley Stadium Event in August 2022.

Hilco Streambank, an intellectual property advisory firm, previously sought offers to acquire the brand assets of the U.S.-based home furnishing brand Klaussner in March.

In other U.S.-related merger and acquisition news, Caesars completed the acquisition of WynnBet’s Michigan iGaming operations last month.

Original Story by: GamblingInsider