Play Hippo clinches SEK 25 million deal with owner New Equity Venture (Nevi)
Two Swedish-listed online gambling companies clinched a SEK 25 million deal this week when Play Hippo acquired Futuremark Gaming Group, owned by the New Equity Venture (Nevi) group.
Futuremark is the operator of three gaming sites: pdisewin.com, mywin24.com, and vipstakes.com. All three sites offer games from Microgaming and Netent along with a live casino.
The three operations have a total of 122,000 registered players and a network of around 400 affiliates, and boasts net revenue in the last 12 months of Euro 350,000, with assets worth Euro 4.2 million – Euro 2 million in cash.
Announcing the agreement, Play Hippos CEO Christian Bönnelyche said:
"The group will now have three new casinos that have a good selection of games. We have brands that provide positive cash flow directly and give us a great opportunity to cross-sell as Play Hippos database is inactive.
Nevi-owned subsidiary B18 Invest is selling its 72 percent stake in FGG but wants to play an active role in Play Hippo and get involved in the company's future development
Playhippo.com is based and licensed in Malta; it offers online and mobile casino games from Net Entertainment, Microgaming and Betsoft.
Online Casino News Courtesy of Infopowa