Online casino and sportsbook service provider Casumo will be purchasing online casino business CasinoSecret for an undisclosed sum. This marks the first acquisition in Casumo’s history.
CasinoSecret was founded in 2018 by the Malta Gaming Authority (MGA). It looks to using player experience as its unique selling point. It also comes with a cashback feature that rewards players for their continuous play. There are also no play-through conditions attached to their offers.
Casumo, which initially acquired 40% stake in the business in late 2019, explained the outright acquisition would bring in more product and marketing expertise to improve its existing brands, particularly with regards to player retention.
“We have developed an ambitious and exciting collaboration with the team at CasinoSecret, which made the merger a clear next step from all perspectives,” Shelly Suter-Hadad, Casumo chief executive, said.
“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,” she added.
Nadir Ounissi, CasinoSecret chief executive, commented that the brand’s effort to provide the best its customers with the best online casino experience fit with Casumo’s approach.
“Together we now open new doors to shared expertise and exciting opportunities across the brands,” he said.
The deal comes after Casumo started diversifying its product offering this year starting with the launch of a Kambi-powered sportsbook in the British market.