For Euro 1.2 million
Cherry-owned Scandinavian affiliate group Game Lounge has acquired a number of Finnish affiliate domains to support further expansion.
Under the terms of the agreement, Game Lounge has acquired prominent Finnish affiliate domains nettikasinovertailu.info, netticasino.eu, onlinecasinofindr.com, nettipokeri.eu, nettiveikkaus.ey and nettibingo.eu for a consideration of Euro 1.2 million.
The acquired affiliate sites will give marketing support to Cherry's existing brands and upcoming white labels as well as significantly reducing costs for acquiring new customers, a company statement said.
The company expects to increase EBITDA figures by more than Euro 600 000 per annum, bring in 10 000 new depositing customers and increase volumes on current Cherry brands as a result of the acquisition.
"The acquisition of the domains puts Cherry and Game Lounge in a stronger position in the affiliate sector and especially within Finland," Fredrik Burvall, chief executive officer for Cherry, said. "We have been very pleased with the performance of Game Lounge so far, and this acquisition will increase volumes at a much lower cost, both for Cherry's current brands and upcoming white labels.
"The affiliate market is an important part of the online gaming industry and Cherry continues to strengthen its online business with this acquisition".
Online Casino News Courtesy of Infopowa