The deal is the Maltese online casino company’s first acquisition.
Malta.- Online casino and sportsbook company Casumo has announced it has completed a deal to buy CasinoSecret for an undisclosed sum in what will be the company’s first acquisition.
CasinoSecret, which is also based in Malta, was founded in 2018. Licensed by the Malta Gaming Authority, its selling point has been its emphasis on customer experience with its cashback features.
Casumo had already acquired a 40 per cent stake in the operator last year. It said the complete acquisition of the company would now allow it to bring on board more product and marketing expertise to grow its brands, particularly in the area of player retention.
Casumo Chief Executive, 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.”
CasinoSecret Chief Executive, Nadir Ounissi, said the brand’s focus on online casino customer experience fit well with Casumo’s approach.
He said: “Together we now open new doors to shared expertise and exciting opportunities across the brands.”
Casumo was founded in 2012. In 2018 it expanded from casino to sports betting, launching a sportsbook for the British market with Kambi.
It then sealed a sponsorship deal English Football League Championship club Reading FC, while its Dunder online casino brand was already sponsoring Bristol City.