Unibet Acquires iGame For €59 Million
Unibet has signed a deal to acquire 100 percent of shares in iGame Holding for €59 million. iGame focuses mainly in Scandinavian markets and offers sports betting, poker and online casino games. iGame has 75,000 active customers and reported EBITDA leading up to June 30 was €4.7 million.
The transaction is expected to be completed in the second or third quarter of 2015. Unibet’s CEO Henrik Tjärnström commented on the acquisition,” The iGame brands are well known in their local markets and we see a lot of potential by combining our bigger scale, mobile, cross-channel and product expertise with their local focus,” said Tjärnström. “As the majority of the iGame revenues comes from casino, our joint plan is to keep a number of these brands as a complement to our existing brands, Unibet and Maria.”
In terms of management change in iGame the current CEO Tommi Maijala is set to retain his position. In a statement he expressed his delight at the new partnership and said,” We are very happy to be joining the Unibet Group. While Unibet is larger than iGame, we share the same passion for serving our customers and improving the operations every day. I have great comfort and trust in the long-term strategy of Unibet and highly respect all the valuable work Unibet has done for the gaming industry. Through this deal our customers will quickly see the benefits from our ability to improve the product offering. Our ability to accelerate the growth and development of the business will also provide new opportunities for our great team.”