Better Collective has completed its acquisition of CasinoLounge.co.uk from Cashmio.
The deal came shortly after Better Collective bought Austrian affiliate, SportFreunde.
CasinoLounge is the company’s first large acquisition in the UK casino market – but the ambition is to build on this achievement and continue forward in the UK.
Michal Kopec, head of M&A at Better Collective, said: “As an established affiliate, known in the UK market and with UK being a primary market for Better Collective we are happy to expand our portfolio with CasinoLounge.
“We believe this will be a good step in our M&A activity, and that we have found a right moment for the two parties to enter into such an agreement that will see both sides benefit from this contract.”
Maria Boelius, CEO at Cashmio, said: “CasinoLounge was originally a hobby project, and we are very proud of what it has grown to be. It is bittersweet to say goodbye to our baby, but we are in a position where it is in everyone’s best interest to hand it off so we can focus solely on Cashmio.
“We are happy to pass CasinoLounge on to an industry leader like Better Collective. We are sure that in their experienced hands, CasinoLounge will be able to develop even further.”