Maltese online casino and sportsbook services company Casumo has announced its very first acquisition, after agreeing a deal for the purchase of CasinoSecret.
Founded in 2018, the fast-growing online operator has a “distinct retention model and unique market expertise” and will complement Casumo’s fast-growing portfolio within the competitive online gaming space.
CasinoSecret operates under a license from the Malta Gaming Authority (MGA) and is focused on player experience.
Chief Executive Officer for CasinoSecret, Nadir Ounissi, said…
“Our ongoing drive to deliver the best online casino experience through innovation and high local relevance fits Casumo’s mission well.
“Together we now open new doors to shared expertise and exciting opportunities across the brands.”
The two companies began to develop their partnership in 2019 when toward the latter part of the year Casumo purchased a 40 percent stake in the online casino, which lead to the full acquisition.
The move by the Malta firm demonstrates its three-part growth strategy, including performance and market-driven growth of existing brands, building and introducing new products and brands, and adding valuable assets to its portfolio via acquisition, according to the source.
Commenting on the new acquisition, Chief Executive Officer for Casumo, Shelly Suter-Hadad, said…
“We have developed an ambitious and exciting collaboration with the team at CasinoSecret, which made the merger a clear next step from all perspectives.
“The acquisition will enable us to further leverage the strong synergies and shared direction of both businesses, while taking our group portfolio to the next level.”
Hadad is the former Mansion Chief Operating Officer and managing director who was appointed CEO for Casumo in August 2019.
In late August, the Maltese firm’s subsidiary, Mill of Magic Ltd., entered into a long-term agreement with iGaming technology company Gaming Innovation Group Inc. (GiG) (OSL:GIG).
The deal entitles Mill of Magic to utilize GiG’s products including its iGaming and sports betting platform, real-time rules engine, GiG Logic, and real-time data platform, GiG Data, to power its new Pay N Play casino offering covered under its own license from the Maltese Gaming Authority (MGA).
Casumo Holding PLC is the parent company of Casumo Services Limited, the company that owns and operates the gambling site Casumo.com. Both companies are headquartered in Swieqi, Malta, and also has offices in Gibraltar and Barcelona.