BlitzBet parent company inks Indian M&A deal

I3 Interactive, the parent company of Dan Bilzerian-backed BlitzBet, has acquired a majority stake in Indian egaming platform LivePools.

I3 has entered into an agreement to acquire 51% of shares in LivePools for $7.5m, with i3 set to complete the purchase agreement over the course of four tranches.

Under the remit of the deal, the Vancouver-based firm holds the option to acquire the remaining 49% of LivePools shares for an additional $7.5m.

I3 has the right to exercise the purchase option on the minatory stake until 1 February 2022.

The acquisition of LivePools, which specialises in fantasy cricket and football, as well as online rummy, marks the further expansion of i3’s global online gaming portfolio.

BlitzBet was launched in August and is looking to leverage the popularity of social media star Dan Bilzerian to acquire recreational customers.

India appears to be a key target market for i3, with BlitzBet set to launch on the sub-continent in the near future on Spartan Poker’s Quadnet Network.

Speaking on the Indian gaming market, Bilzerian said previously: “India has shown a lot of promise that has given me the confidence to throw in my chips as well.”