AMGO iGaming AB, a Swedish online gambling company, has entered into an agreement with EveryMatrix in terms of which it will purchase the biggest online casino on the latter’s white label platform, Jetbull for an amount of €1 million in cash and a further €1 million in newly issued shares.
According to AMGO iGaming, the transition process is already in motion and full ownership of the brand across all its markets will be obtained as from 1st July 2019.
The agreement will also see EveryMatrix concentrating fully on operating as a Software Service Supplier.
Ebbe Groes, Founder and Chief Executive Officer of EveryMatrix, explained that some B2B companies have their own B2C brands competing with their B2B clients. He added that this has always been against their strategy, and with this transaction, they now completely shut down own brands and can focus exclusively on their role as a software service supplier for casino, sports, payments and platform.
Groes also said that AMGO has the right setup for operating multi-brands in different jurisdictions, and they are sure that they will see a huge increase in Jetbull’s reputation as a strong brand in regulated markets.
Viorel Stan, Chief Executive Officer of Jetbull, added that there is great chemistry between AMGO and the Jetbull organization and they will do their best to secure a successful transition. He added that this transition will ease Jetbull’s goal of becoming a top player in all regulated markets targeted, and continue the consistent YoY growth.
Stan went on to say that EveryMatrix will continue as the main technology provider, and they will make sure that Jetbull is supported with the newest innovations to keep the brand at the forefront of the industry.