Casumo dips toe into M&A waters with CasinoSecret acquisition

Casumo has made its first acquisition by inking a deal to purchase Malta-based online casino operator CasinoSecret for an undisclosed fee. The acquisition follows Casumo’s initial purchase of a 40% stake in CasinoSecret at the end of 2019, with the two companies operating a successful partnership arrangement. Casumo has said the move to acquire CasinoSecret forms part of its longer-term business strategy of generating growth, introducing new brands and products, and acquiring valuable business assets. Casumo CEO Shelly Suter-Hadad welcomed the company’s debut acquisition, highlighting the potential of combining the businesses. “We have developed an ambitious and exciting collaboration with the team at CasinoSecret, which made the merger a clear next step from all perspectives. “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,” she added. CasinoSecret was founded in 2018 and operates under a licence issued by the Malta Gaming Authority (MGA). It has a presence in several markets, including Germany where it offers online and mobile casino gaming. CasinoSecret CEO Nadir Ounissi welcomed the continuation of the relationship between the two businesses through the acquisition. “Our ongoing drive to deliver the best online casino experience through innovation and high local relevance fits Casumo’s mission well,” said Ounissi. “Together, we now open new doors to shared expertise and exciting opportunities across the brands,” he added.