In a surprising turn of events, Gaming Innovation Group (GiG) has announced the acquisition of Casinomeister, a popular online casino review platform, despite recent statements from company executives downplaying the potential for further mergers and acquisitions (M&A).
The acquisition of Casinomeister, which was founded in 1998 and has become a trusted source of information for online casino players, marks a significant move for GiG as it continues to expand its presence in the competitive online gambling market.
According to sources close to the deal, the acquisition was finalized after months of negotiations between GiG and the current owners of Casinomeister. The terms of the deal were not disclosed, but industry insiders speculate that the acquisition will bolster GiG’s position as a leading provider of online casino services.
In a statement following the announcement of the acquisition, GiG CEO Richard Brown expressed his excitement about the new partnership, saying, “We are thrilled to welcome Casinomeister to the GiG family. Their reputation for providing unbiased and informative reviews of online casinos aligns perfectly with our commitment to transparency and fair play in the online gambling industry.”
Despite the positive reception of the acquisition from both companies, some industry analysts have raised concerns about the timing of the deal, as GiG executives had previously downplayed the company’s interest in further M&A activity.
In a recent interview with EGR Global, GiG CFO Alexander Westrell stated, “We are not actively seeking out new acquisitions at this time. Our focus is on organic growth and expanding our existing portfolio of products and services.”
However, the acquisition of Casinomeister suggests that GiG may be more open to M&A opportunities than previously indicated. Some industry observers see the move as a strategic decision by GiG to strengthen its position in the online gambling market and gain a competitive edge over rival companies.
As GiG prepares to integrate Casinomeister into its suite of online casino services, industry experts will be closely watching to see how the acquisition impacts the company’s market share and overall growth trajectory. With the online gambling industry continuing to evolve and expand, GiG’s latest acquisition may prove to be a game-changer in the competitive world of online casinos.
