January 9, 2015
The world of online gaming is surprised with the deal between Unibet and Bingo.com.
The news from online gambling sector is always full of various acquisitions, takeovers and absorptions, and the year 2014 can also boast about some attractive buys. Amaya Gaming Group remained at the top after it acquired Full Tilt and PokerStars, but there are some other not less interesting acquisitions in the world of igaming.
Although the profit of bingo is not so great in comparison with other igaming, its growing popularity doesn’t pass unnoticed. So, Unibet Group decided to buy Bingo.com Ltd for $8 million on December, 31, 2014. The sum is considerably small compared to the money paid by Amaya Gaming.
Jason Williams, the Chief Executive Officer of Bingo.com, remarked, “The competition is very severe in the igaming industry, so it becomes rather problematic for a small European company like Bingo.com to survive in this competition.”
“Taking into account this state of things, the management team of Bingo.com Ltd determined to sell its online business together with the brand and URL, and the negotiations with Unibet began. It offered the best conditions of acquisition.”
Unibet Group has appeared at the online betting market in 1997and is listed among the online gambling providers in NASDAQ QMX Stockholm. This brand offers its services in European market in 100 countries, to 9,5 million players, in 22 languages.