Betting companies continues to assimilate their counterparts in attempt to increase their revenue in the betting market. Recently, Unibet Plc has acquired the iGame Holding Plc a betting operator that is based in Malta.
It has been claimed that Unibet cashed out a total of €59 million (£41 million) to acquire the iGame services with all its collection included. It earn out payment will be offered to the company with the deadline set to 30 June 2016. The calculation of the earn-out payment is the product of the EBITDA by 6.2 which is deemed to run up to €20m. This includes the aspect of the company over performing.
For the initial six months in 2015, iGame claimed that it had gunned a total of €13.7m with the addition of €4.7 million from the H1 2015 EBITDA. It further noted that it had acquired more than 75,000 clients at the time.
Following the acquiring of the iGame, Unibet will be among the top operators in the Nordic betting markets. The company seeks to extend is market services across the globe as it was evident in 2014 when the company acquired UK based bookmaker Stan James for £19 million with an aim of increasing its revenue.cal
The CEO of Unibet Henrik Tjarnstrom claimed that that the acquisition of iGame comes at an advantage to them as the firm has a very strong fan base and that they would bring together mobiles, cross channel and product expertise at a bigger scale and would equip their casino with all sorts of slots to increase income.
At the same time, Tommi Maijala the CEO at iGame claimed that it was his pleasure to joined hands with the Unibet group with the aim of putting into practice their same agenda of being on service to their clients as well as making developments in their operations daily. He trusted the association and believed that both parties’ clients will acquire the benefits at their hand. The two firms would initiate development and growth in improving their products offered.
Heads at Unibet claimed that the managerial hierarchy under the supervision of CEO Tommi Maijala would remain intact and would be subjected to withholding schemes that would aim at delivering the business plan for the next couple of years.
This article is published in: Betting deals
Tags: Malta, UK, Unibet
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