Gambling Marketing and Operation Company B90 has signed an affiliate marketing agreement with Nordic Group, it announced on Monday, to promote all of its online sports betting and casino services in a number of territories.
The publicly traded company described Nordic Group as a âprimaryâ online marketing and advertising partner, with a focus on Latin America and the Nordic countries.
He said the affiliation agreement covered all current and future brands and subsidiaries of Bet90, with Nordic preparing to launch promotional activities “immediately”.
Nordic has an “established and extensive” marketing network in various countries, B90 said, and has used a mix of content, including blogs and websites sharing tips and strategies, and reviews, as well as news and information on offers, programs and products, through a variety of online and social media.
It also uses the âlatestâ search engine optimization (SEO) and digital promotion techniques.
B90 said it would pay Nordic an initial affiliate commission totaling â¬ 0.15million (Â£ 0.13million), which would be settled in new shares on November 30.
The total number of new shares to be issued to cover the initial commission would be calculated on the basis of the average closing market price of the ordinary shares of B90 during the five trading days ending on November 30, rounded to the whole. nearest higher, and the exchange rate then in effect.
The issuance of the new shares would be conditional on Nordic generating a minimum of â¬ 75,000 in new income for the company by November 30, with the possibility of modifying the agreement and the number of new shares to be issued if this was not reached.
Thereafter, the agreement would revert to a âtypical affiliate agreementâ, with payment based on traffic volume and new customer revenues generated by Nordic’s network.
Further share-based payments would fall due on February 28, May 31 and August 31, 2022, converting actual affiliate commission earned in excess of the first â¬ 0.15 million in shares based on the average price. closing of the market during the five trading days preceding until each of the payment dates.
The maximum amount that can be converted into equity has been capped at â¬ 0.4 million, any higher amount having to be paid in cash.
âAs previously stated, our strategy is to grow our brand, our customers and ultimately our revenue base into new geographies, using both affiliates and direct marketing,â said the president. executive Paul Duffen.
âNordic is a great affiliate partner for us in these territories as they have a great established network.
âThe deal was structured to mitigate risk and preserve initial cash outflows, while maximizing the potential for future cash generation for the business and providing an incentive for the affiliate.
At 0800 BST, shares of B90 Holdings were flat at 12p.