Online Casino Firm Purchases Competition
A recent acquisition made by Canadian online casino firm FUN Technologies is none other than its main competitor World Winner. Reported to be worth $23 million, the deal gives FUN Technologies access to World Winner’s 14 million registered players at the online casinos firm. According to CEO of FUN Technologies, Steven Abony, the decision to purchase its rival was made in order to strengthen the firm’s position in the increasingly competitive online casinos industry.
World Winner’s products will continue for the time being using the company’s recognizable branding, but fans of online casino sites will soon notice branding changes in line with FUN Technology’s subsidiary SkillJam Gaming. Currently casino players play an average of 350,000 games on World Winner’s online casino site each day. The online casinos firm reported total annual revenue last year of $10.67 million dollars which was generated from its 14 million registered members.
However, while FUN Technologies is understandably excited by the deal, some industry insiders are critical of the increasing number of online casino firms buying out their competition. While consolidation is seen as a natural process, some say that smaller online casinos firms help to keep competition alive. If the industry was to be controlled by several large enterprises, the numbers of promotions and special offers casino players have access to would decrease significantly.