EveryMatrix shuts down B2C business with the sale of its Jetbull casino to Swedish gambling group AMGO in a €2 million deal
Swedish online gambling company AMGO iGaming AB announced late last week that it has entered into an agreement to purchase Jetbull, the biggest online casino on the EveryMatrix white label platform. AMGO said it expects to assume full ownership of the brand across all markets it is currently present in on July 1, 2019.
Under the terms of the transaction, AMGO will pay €1 million in cash and €1 million in newly issued AMGO shares at SEK1.0 (10,750,000 new shares) to acquire the white label casino. The Swedish company said that the purchase of Jetbull will create 20 new positions at its offices in Denmark, Latvia, and Malta.
Jetbull was launched in 2007 as one of the first online casinos on the EveryMatrix platform, and with more than 600,000 registered players it is also the largest one. Over the years, it has amassed more than 2,200 slots by more than 40 providers. The casino also features a wide variety of payment methods, currencies, and languages.
The casino services customers via licenses from the Malta Gaming Authority, the UK Gambling Commission, and Denmark’s Spillemyndigheden. After AMGO completes the acquisition of Jetbull, the brand will continue operating under the same licenses.
Focus on B2B Operations
With the sale of Jetbull, EveryMatrix will completely shut down its B2C arm to focus on its operations as a provider of online casino, sports betting, and payment solutions as well as a platform provider.
News about EveryMatrix putting an end to its presence in the industry as an online gambling operator arrive just a few months after the company closed another flagship brand – Codeta. Back than, existing Codeta players were migrated to Jetbull.
Commenting on Jetbull’s sale, EveryMatrix founder and CEO Ebbe Groes said that the deal enables the group to “focus exclusively on our role as a software service supplier.” He went on to say that AMGO “has the right setup for operation multi brands in different jurisdictions and we are sure that we will see a huge increase in Jetbull as a strong brand in regulated markets.”
Jetbull CEO Viorel Stan added that they will do their best to secure a successful transition and that the sale will “ease Jetbull goal of becoming a top player in all regulated markets targeted.”
A Flurry of Acquisitions
The addition of Jetbull to AMGO’s portfolio of brands was the latest of several acquisitions undertaken by the online gambling group in recent months. Last month, the company finalized the acquisition of online gaming and betting platform provider 1Click Games.
Late last year, AMGO also announced that it has signed a letter of intent to buy Danish operator Ekstra Bladet Spil A/S and use that company’s Danish license to launch its flagship Fantasino brand in the local market. The deal was subject to regulatory approval and was expected to be finalized by March 1, but AMGO has not provided any new updates on the progress of the transaction.
Of the acquisition of Jetbull, AMGO CEO Nicolas Fleiderman said that they have worked on “this agreement for a long time and know exactly what synergies we can achieve to accelerate the growth and become more efficient.” Mr. Fleiderman previously served as Commercial Director for EveryMatrix. He was appointed as Chief Executive of AMGO earlier this year.
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