GiG acquires Casinomeister despite recent downplaying of further M&A

Gaming Innovation Group (GiG) has acquired online casino affiliate Casinomeister for €3m (£2.56m).

Since its inception in 1998, Casinomeister has established a large active player community that helps collect key data points such as payout times for several casinos.

The group boasts a list of “accredited casinos”, with accreditation only granted after a company passes Casinomeister’s internal standards test.

The recently acquired group also hosts a ‘rogue casinos’ section, dedicated to shining a light on the firms that fall foul of industry ethics. The site additionally features a casino complaints centre that has been in operation since 2001.

As a result of that system, Casinomeister has helped recover more than €5.6m after processing more than 7,000 casino complaints, having become certified arbitrators internationally in 2016.

GiG Media said Casinomeister will continue to operate under its existing brand, with “significant growth” expected to come akin to the developments seen with AskGamblers after GiG snapped the firm up in Q4 2022.

GiG Media noted that the deal, which is structured as an asset purchase, should close this month.

The firm added the acquisition is expected to have an “immediate positive financial impact”, which would increase when fully embedded into the wider company.

GiG interim CEO Jonas Warrer shed light on what the Casinomeister brand can offer the company, citing enhanced market reach as a factor behind the decision for the acquisition.

“Casinomeister’s renowned dedication to fair play and community support perfectly aligns with our recent acquisition of AskGamblers.com,” Warrer remarked. 

“Together, these platforms will enhance our market reach and optimise the complaint resolution services we provide to the community, reinforcing our position at the forefront of player advocacy.”

Bryan Baily, founder of Casinomeister, said: “I have dedicated 26 years to building this business, and now it’s time to pass the reins to a new, dynamic team who can lead it into the future. This business has been my passion, starting as a hobby website in 1998 and growing into what it is today.

“I am entrusting this to the most capable team in the industry to continue its mission of advocating for fair play.

“I have a long history with GiG media, and I am confident they will maintain the values and principles that Casinomeister stands for, ensuring a smooth transition and a bright future for the online gaming community,” he added.

News of the acquisition comes after Warrer downplayed talk of any further M&A last month, insisting the company’s focus was firmly on the onboarding process for Time2play Media, which GiG acquired in December 2023.

While speaking on a follow up call to GiG posting Q1 revenue of €36.2m, Warrer explained that further M&A was not something on the affiliate’s radar.

The interim chief explained: “I think the trick when it comes to M&A is to do acquisitions that have a strategic fit with the organisation. There’s also the timing element.

“You can say we need to onboard KaFe Rocks [Time2play] fully and to excel together with them and then there would maybe be a bigger acquisition that we could consider again.

“I think there is a limit to how many acquisitions you can do in order to be successful, both in your existing business and in what you acquire. It is a very interesting market out there now for M&A [with] a lot of things happening,” he added.