Unibet Group purchased Bingo.com for $8 million
Acquisitions, absorptions, takeovers have always occurred in the online gambling industry and this year was not an exception as some of the great deals took place in 2014. The leading place still occupies Amaya Gaming after its acquisition of PokerStars and Full Tilt, although there were some other interesting deals that attracted public attention.
The popularity of bingo is evidently growing, although the profit it brings in the online gambling is not very high. So, the deal between Unibet Group and Bingo.com Ltd on December, 31, 2014 is not significantly great in comparison with Amaya’s purchase, and comprises only $8,000,000.
The Chief Executive Officer of Bingo.com, Jason Williams, said, “The world of online gambling is a difficult place to compete for smaller companies, so the European brand Bingo.com experienced some difficulties in competing with larger companies.”
“According to all these difficulties, Bingo.com and its management team settled the question of selling its igaming enterprise, its brand and URL as well. Unibet Group was among those who offered the fairest conditions for the deal.”
Unibet Group was founded in 1997 and is in the list of NASDAQ QMX Stockholm. It is the largest gambling operator in European market providing its services in 22 languages to 9,5 million people in 100 countries.