Unibet Acquires Bingo.com Domain
Online gambling brand Unibet has bought the online gaming domain Bingo.com in a deal that’s been valued at CA$8 million.
Acquisition of Bingo.com
The Unibet deal to acquire Bingo.com included CA$2 million cash for Bingo.com’s brand and operations as well as CA$6 million in Unibet shares. The purchase will also mean that Bingo.com will change its operating name to Shoal Games Ltd. Jason Williams, Bingo.com CEO, emphasised that the new focus of the group would be developing social gambling products where much of the industry is now focused.
One of the main reasons for the takeover, as clarified by Williams, was that as the online gambling market has matured it has become more difficult for small brands, such as Bingo.com, to compete within an industry that is dominated by a few giants. “In response to these facts, the Bingo.com management team decided that it was in the best interests of the company to sell the online gambling business,” he commented. “The associated brand and URL and determined the offer negotiated with Unibet, the company’s own online gambling partner and technology provider, was fair and the best offer available to the company for those assets.”
What Does This Mean?
What this means to the market and the wider public is that Unibet will add Bingo.com’s branding and existing services of European Bingo to its own services and those of iGaming and Maria.com which it purchased in 2008.
The result of the deal with Unibet is that there is a new and unique free social Bingo game from Bingo.com that highlights the new range of social gaming availability. The Bingo game, Trophy Bingo, is already available in the app store.
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