Serbian product AskGamblers sold for EUR 15 million
(Photo: Fer Gregory/shutterstock.com)
Serbia's AskGamblers.com is sold to Malta's Catena Media for EUR 15 million in so far the biggest publicly known acquisition of a local technological company.
Nine-year-old AskGamblers, the most popular web portal for rating players and ranking casinos, was named the World's Best Casino Portal three years in a row. This website offers players a unique opportunity to resolve disputes with online casinos, which has so far resulted in the payout of EUR 5 million in winnings to players.
The company currently employs 30 people from Belgrade, and all of them will be offered to continue to work for Catena which had had 130 employees in three countries prior to the acquisition.
AskGamblers' revenue in Q1 2016 totaled EUR 810,000 with a profit rate that exceeds 80%. Revenues are generated from organic visits and affiliate arrangements, and it is expected to attract 25,000 new clients a year.
Catena Media was established in 2012. It is primarily focused on the iGaming industry with its main markets being Sweden, Norway, Finland, the Netherlands, and the United Kingdom.
Igor Salindrija, the founder of AskGamblers, said on this occasion that Catena Media had grown into one of the most interesting players in that industry, adding that it was particularly exciting that AskGamblers would now enter a new phase with that company.