Malta headquartered Casumo has announced its first M&A agreement after inking a deal to purchase online casino operator CasinoSecret.

Complementing the group’s growing portfolio within the online gaming space, the acquisition follows an initial purchase of a 40 per cent stake by Casumo at the end of 2019 and is said to represent “the development of a thriving partnership between the two companies”.

“We have developed an ambitious and exciting collaboration with the team at CasinoSecret, which made the merger a clear next step from all perspectives,” stated Shelly Suter-Hadad, chief executive officer of Casumo

“The acquisition will enable us to further leverage the strong synergies and shared direction of both businesses, while taking our group portfolio to the next level.”

CasinoSecret, founded in 2018, operates under an MGA license, with the fellow Malta-based operator placing a focus on player experience and bringing further excellence in product and marketing to the group across multiple markets.

“Our ongoing drive to deliver the best online casino experience through innovation and high local relevance fits Casumo’s mission well,” said Nadir Ounissi, CEO at CasinoSecret.

“Together we now open new doors to shared expertise and exciting opportunities across the brands.”

Casumo says that the move marks the latest stage of its ongoing growth strategy, which includes a combination of performance and market-driven growth of existing brands, the building and introduction of new brands and products, as well as the addition of valuable assets to its portfolio through acquisition.

Last month Gaming Innovation Group put pen to paper on a long-term agreement with Mill of Magic, a new subsidiary brand debuted by Casumo.

As part of the deal, Mill of Magic will use GiG’s products, such as its data platform and GiG Logic, to power its new ‘Pay N Play’ casino offering under its own license from the Maltese Gaming Authority.