Leisure & Gaming (L&G) has continued on its path of growth by acquisition with a £1.86m deal for the Stanley Leisure online casino business.
L&G will keep the Acropolis Casino name and hopes to be able to drive Stanley’s one million-strong customer database of registered users towards the site. The deal will also see the Acropolis name promoted through Stanley’s land-based estate of 41 casinos.
Alistair Assheton, chief executive of L&G, said: “It is good for us because it gives us a blue chip strategic partnership and we can exploit the Stanley brand and name.”
He added that the deal was “well-priced” and would be earnings enhancing from the off.
The deal fits in with L&G’s long-term strategy which is about “finding acquisition targets that are well-priced and that have growth potential.”
“We don’t hide the fact that we are a consolidator and we will be looking to make further acquisitions.”
Under the terms of the deal, the two companies have signed an affiliate agreement for an initial term of 12 months, which will include a poker offering and a dedicated slots offering.
“We thought we didn’t have enough slots play on Acropolis and we will be looking to grow that part of the casino,” said Assheton. “
There are distinct slots users who would want a slots-only offering and it is a new revenue stream.”
Assheton added it was L&G’s view that sports bettors are more loyal and it would therefore be easier to push them towards the Acropolis site.
source : egr magazine
