GLP Advises on the Sale of Dazzletag Entertainment to Novomatic
Novomatic AG (“Novomatic), through its wholly owned subsidiary Greentube Internet Entertainment Solutions GmbH (“Greentube”), has acquired Dazzletag Entertainment Limited (“Dazzletag”). Global Leisure Partners acted as financial advisor to the Shareholders of Dazzletag.
Dazzletag owns and operates Bingocams, a multiple award winning real-money bingo website, which holds a leading position in the Netherlands and has a significant presence in the UK.
The business has developed proprietary technology that combines webcam enabled interactive elements with real-time gaming to offer an innovative and unique social bingo experience. Its features include two and three-way video chats and the US patented ‘Live Win Moment’ which provides a video replay of players’ reacting to their wins, capturing the social spirit of live bingo.
Greentube Chief Executive Officer Thomas Graf said:
“Bingocams is a welcome addition to the Greentube line of iGaming solutions. This acquisition marks another major step forward for Greentube and further enhances Novomatic’s position of significance within the ever expanding new world of online gaming.”
Marin Muyser, Managing Director of Bingocams, added:
“GLP are specialised in our industry, have an extensive network across Europe and beyond and have a highly qualified and dedicated team. Now that the process has been concluded successfully, I can only say that we couldn’t have had a better advisor. It was a joy to work with them and I would choose them again for the next deal.”
David Bains, Managing Director at GLP, added:
"We are delighted for both parties. Dazzletag Entertainment is a great business and will sit well alongside the other assets that Novomatic owns. We see consolidation as a key theme in the industry and believe that differentiated technology is a key value driver"
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