The first quarter has been extremely busy for the online gambling industry with many mergers and acquisitions taking place. Some of the industry’s biggest names have been selling and acquiring assets in order to place themselves in a more competitive position within the market.
Earlier this year Bwin.Party confirmed the sale of the Ongame poker network to the Amaya Gaming Group. However, the network was sold at a loss; Amaya paid €25 million, far below the price paid by Bwin.
The UK sports betting operator, Sportech Plc, has acquired a US b2B online betting operator, eBet Online Inc. eBet focuses on North American horseracing betting and is an excellent addition to Sportech’s portfolio of services.
In America the Vegas based Caesars Entertainment has bought the social and mobile game developer Buffalo Studios.
However, the companies did not disclose how much was paid.
Ladbrokes, the UK betting giant, has joined the betting exchange market by agreeing to buy Betdaq for £30 million.
There have been many more acquisitions in the past three months, much of them spurred on by the slowly opening online gambling market in the US. There are still more deals beign announced and it looks as though the second quarter may be just as busy.