Mobile operator Casumo is to purchase online casino business CasinoSecret for an undisclosed sum, the first acquisition in the company’s history.
Founded in 2018 and licensed by the Malta Gaming Authority, CasinoSecret looks to use player experience as a unique selling point, including a cashback feature that rewards players for continued play and no play-through conditions attached to offers.
Casumo, which first acquired a 40% stake in the business in late 2019, said the outright acquisition would bring in more product and marketing expertise to grow its existing brands, especially around player retention.
“We have developed an ambitious and exciting collaboration with the team at CasinoSecret, which made the merger a clear next step from all perspectives,” Casumo chief executive Shelly Suter-Hadad explained.
“The acquisition will enable us to further leverage the strong synergies and shared direction of both businesses, while taking our group portfolio to the next level.”
CasinoSecret chief executive Nadir Ounissi added that the brand’s effort to offer the best online casino experience for customers fit with Casumo’s approach.
“Together we now open new doors to shared expertise and exciting opportunities across the brands,” he added.
The deal comes after Casumo this year began to diversify its product offering with the launch of a Kambi-powered sportsbook in the British market.
This followed a sponsorship deal with English Football League Championship club Reading FC, complementing an existing partnership between its Dunder online casino brand and Bristol City.