ComeOn acquires Mobilbet.com
Group buys brand and revenues of white-label running on its Co-Gaming platform
ComeOn Group has agreed terms to buy Nordic-facing operator Mobilbet.com for an undisclosed sum as the firm continues its strategy of acquiring the assets of brands operating on its Co-Gaming platform.
The deal sees ComeOn take on the marketing responsibilities for the brand, which in Q1 2016 posted net revenues of ?3.8m, from its unnamed owner.
“Buying out their brand and revenue stream is in line with our strategy, where we have created a business model that allows entrepreneurs to earn equity in their projects, whilst we take over the brands when they are approaching consolidation phase,” Jovin Genovese, ComeOn director, said.
Mobilbet.com launched as a white-label on one of the operating companies of ComeOn Group in May 2014 and, according to ComeOn, has enjoyed a period of rapid growth across its target markets of Norway, Sweden, Germany and the UK.
“We believe we can continue the great work done by our marketing partners and continue growing the Mobilbet brand,” Genovese added.
“It supplements our brand portfolio well, with its mobile device focus, and it is testament to a well working business model of how we can catalyst entrepreneurs and give them a predictable path of equity in their projects.”
ComeOn struck a similar deal last year when it acquired former white-label partner Suomikasino.com, also from Frontloop Media, for an undisclosed amount.