Unibet buys bingo.com
Certainly this has to be the final acquisition of 2014 following Unibet purchase of the URL and online gambling portion of Bingo.com, Ltd for $8 million which was finalised on the 31st December. In a year where billion dollar deals have been done in mergers and acquisitions this deal looks less important but in the online bingo market this is a very big deal.
Unibet has purchased the URL www. Bingo.com and its entire online gambling community and will now look to add to its current Mariabingo.com brand to increase and expand its presence in the online bingo sector.
Jason Williams, Chief Executive Officer of Bingo.com commented on the purchase, “The online gambling industry as a whole is experiencing conditions of maturity where smaller firms are finding it increasingly difficult to compete,” Williams, added, “Bingo.com’s European gambling business, built with the www.Bingo.com brand and URL, has therefore found it difficult to compete effectively with larger operators.”
“In response to these facts, the Bingo.com management team decided it was in the best interests of the Company to sell the online gambling business; 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.”
