Acceler8 Ventures PLC
- Market Cap (£m) #N/A
- Listing LSE
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Company Descriptions
IIG is an investment company. The company has a $365m investment in Hui10 a Chinese domiciled business which is the primary investment and a wholly owned investment of IIG (95% of its balance sheet). Using patented proprietary technology and having signed Exclusive Agreements with state authorities, Hui10 is digitising the Chinese state lottery. The Lottery is the only legal form of gambling in China but it is paper-based. Digitisation aims to propel the addressable market from c. 10% of adult players generating US$72bn in ticket sales, to a market of c1bn adults across the country. Both Intuitive Investments and Hui10 have experienced ‘C’ suites. Of note: Intuitive Investments is chaired by Sir Nigel Rudd - best known for his role in transforming Williams plc into a FTSE 100 Company and being Deputy Chairman of Barclays Bank, Sir Nigel is an experienced Chair. He chaired plcs Pendragon, Pilkington, Alliance Boots, Heathrow, Invensys, Business Growth Fund and is a long-standing investor in growth companies. Co-investors in Hui10 include strategic investor Entain plc, formerly GVC Holdings, the FTSE 100 listed international sports betting and gambling company. Entain owns brands such as bwin, Coral, Ladbrokes, PartyPoker and Sportingbet.
Investment Summary
IIG is an investment company, offering investors a substantial ‘growth opportunity’. By digitising the Chinese state lottery, Hui10 aims to create a business generating cUS$1bn EBIT over time, from just c$1m revenue currently. Using Hui10’s proprietary technology, roll-out expertise and exclusive contractual relationships, digitising the lottery creates new ways for consumers to engage and play the Chinese Lottery. With this, lottery sales are targeted to increase from US$72bn to US$200bn+ as the addressable market of active lottery players increases from 100m to c400m, and consumers are engaged with new ways to play, new player incentives and an 'always on' (24/7/365) experience. This ‘digital unlocking’ creates a very substantial opportunity for investors, both from the creation of a ‘Big tech’ company and with it a substantial NAV re-rating, coupled with a dividend stream from a repeatable recurring revenue model.
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Company Management Team
Daniel Levine
Chief Executive Officer
Daniel has lived and worked in China for more than 30 years and is the co-founder of Hui10. He leads AC8’s strategic direction, commercial development and investor engagement, overseeing the continued growth of the Group’s digital commerce platform across China.
Giles Willits
Chief Financial Officer
Giles is a Chartered Accountant with over 25 years’ experience in listed companies and international finance. He is responsible for the Group’s finance function, governance, financial reporting, capital markets activities and investor communications.
