Year-End iGaming Acquisitions and Sell-Offs
As 2015 draws to a close, the igaming industry is busy getting the pieces in place for 2016. This means plenty of operators are moving to acquire new business units while others are busy shedding units ahead of long-planned, big moves.
If you’re following the pieces on the igaming chess board, here are a couple moves you’ll want to know all about.
Gala Coral Sheds Bingo Parlors
One of the biggest igaming deals of 2015 had to be the massive merger between Gala Coral and Ladbrokes. The move will make the newly formed company the biggest bookmaker in the UK.
Ahead of that big move, Gala is selling off 130 of its land-based bingo clubs for a cool £241 million ($365 million USD). The clubs, which pull in a very impressive £300 million ($446 USD) in revenues will retain the Gala name under a licensing agreement.
The sale of the successful bingo parlors is generally seen as a move designed to soothe regulators who might think that Ladbrokes/Coral is too big to remain competitive.
Cherry AB EOY Acquisitions
Though they’re nowhere near as large as the moves being made by the UK big boys, Cherry AB has been making some moves of its own as the clock winds down on 2015.
Cherry AB expanded its affiliate reach this week with the acquisition of Malta-based Moorgate Media for €4 million ($4.38 million USD). It’s believed that this new purchase could boost the company’s earnings by over $1 million annually.
Cherry AB has been on a something of a tear this year by picking up domains and affiliates across the European Union. All those moves, according to CalvinAyre.com, have pushed the company’s revenues by more than 55% in the first half of 2015.