Thimba Media acquires online casino assets from Astro Media
Ireland-based Thimba Media paid $1.8m (£1.3m/€1.5m) to purchase the assets, which it said are online casino product comparison portals across predominantly locally regulated markets including Sweden, the UK and Latvia.
Thimba Media said the assets are expected to generate net income in excess of $580,000 over the next 12 months.
“This acquisition is another major step toward our goal of becoming a large affiliate company and realising our goal of sustainable and accelerated growth both organically and via our systemic M&A strategy,” Thimba Media chief executive Chris Russell said.
“Our next target will be a US focused acquisition in late 2021.”
Thimba Media chief marketing officer Ferdia O’hAodha added: “At a time when the majority of our competitors are looking at the US market, we are looking at value investments across locally regulated European markets providing us with strong returns to grow our business.
“In addition to having strong agreements in place with some of the largest casino operators in Latvia and Sweden, the assets also have extensive reach in the CIS markets.”