NOVOMATIC-owned iGaming giant Greentube has acquired the majority of crypto gambling platform CashBet and its cryptocurrency CashBet Coin (CBC).
As part of the deal, Greentube also plans to integrate CashBet’s blockchain technology as it makes further moves into the crypto space.
The acquisition comes on the back of their partnership last year, which saw Greentube agree to include the CBC token as a payment for Greentube’s B2C social casinos.
In a press release about the acquisition, the Austrian-based gaming company said they saw the acquisition of the CBC as an opportunity to boost Greentube’s social gaming portfolio.
Social gaming has been high on Greentube’s agenda as they look to diversify their portfolio, and they see cryptocurrency and blockchain as a way of extending their position.
Greentube has been in gaming since 1998 when it launched its first game: a 3D sports game - Ski Challenge, when the company was called Dürrschmid&Reisinger.
The company has grown and a rebranded to Greentube and has grown into the iGaming giant it is today. On their website, they say they pride themselves on the delivery of safe and secure casino entertainment to players around the world.
Speaking of the majority acquisition, Greentube’s Chief Games Officer, Michael Bauer said it would really help Greentube ‘expand the use of blockchain solutions across our B2C casino portfolio to enhance customer experience.’
“We’ve seen increasing demand from players to offer cryptocurrency as a payment option,’ Bauer continued, ‘and the successful integration of CBC on GameTwist has demonstrated the benefits of the technology for social gaming,”
And with a portfolio of more than 400 games including classic slots, video bingo games, video poker games, table games, server-based gaming, social casino gaming and much more, the take up of a laegr amount of CBC will intensify their cryptocurrency offerings in their platforms.
CashBet Coin President, Ed Brennan was speaking after the announcement of the acquisition, and he acknowledged the deal was a positive sign in their existing relationship, and the fact that Greentube was integrating the CBC into its platforms was ‘testament to CashBet’s technical excellence.’
Brennan went further to say that with CBC now in the hands of a truly global company, the crypto payment method would benefit from ‘greater utility.’
It’s positive news for the iGaming and gambling sector of crypto. It’s probably the sector of crypto with most utility for now, and the fact that such a big player is wanting to integrate crypto payments into their wider portfolio shows great confidence.
We wait with eagerness to see how Greentube expand its crypto options.
Author: Tommy Limpitlaw