Signing Day Sports, Inc., a company renowned for its cutting-edge app that assists high school athletes with recruitment, has made a significant acquisition of 95-99% of Swifty Global, a major player in the sports and casino technologies industry. This strategic move signifies the start of an expansive growth strategy focused on acquiring and developing companies within the sports and casino technology sectors, as well as other related fields.
The acquisition, which is structured as an all-equity transaction, will involve Signing Day Sports issuing its securities to the controlling shareholders of Swifty Global. This will allow for the integration of Swifty’s expertise and technological assets without the need for any cash payment. The collaboration is expected to enhance Signing Day Sports’ offerings in both the digital and physical sports recruitment and casino technology realms.
Led by British CEO James Gibbons, a seasoned technology entrepreneur, Swifty Global boasts a scalable, GLI-certified technology stack with active gaming licenses in various jurisdictions such as the UK, Ireland, South Africa, and Curacao, with plans to expand into Malta. Despite significant reinvestments in technology and licensing, Swifty achieved revenues exceeding $128 million and net profits around $2.44 million in the fiscal year ending December 31, 2023.
After the acquisition, Swifty Global will maintain its operations under its current management while becoming an integral part of Signing Day Sports’ portfolio. This move is aimed at enhancing the software offerings of Signing Day Sports and expediting product development. By leveraging Swifty’s in-house development team, costs can be significantly reduced and the rollout of new features and platforms can be accelerated.
Once the transaction is finalized, expected by October 31, 2024, James Gibbons will assume the role of CEO for both Signing Day Sports and Swifty Global. He will lead the expanded operations towards innovative solutions in sports technology and casino gaming, paving the way for rapid growth and market penetration.
This acquisition is anticipated to position Signing Day Sports at the forefront of the sports technology and online gaming markets by combining its educational and recruitment technologies with Swifty’s gaming solutions. Not only does the deal diversify Signing Day Sports’ revenue streams, but it also solidifies its position in a competitive market, laying the groundwork for future expansions and technological advancements.
The governance structure post-transaction will include a balanced board of directors that complies with NYSE American regulations. This will ensure strategic oversight aligned with industry best practices and shareholder interests, fostering robust corporate governance and operational efficiency across both entities.
