eQube’s Norway deal opens up European opportunities

eQube’s Norway deal opens up European opportunities

Monday, November 30, 2015 Totally Gaming
CFO Danielle Thorkelsson said the company is building its reputation in Europe

Danielle Thorkelsson, chief financial officer at eQube, said the company’s hopes of expansion in Europe will be aided by the acquisition of Norwegian e-bingo systems provider Teknobingo.

The €4 million ($4.3 million) deal, which TotallyGaming.com understands will be finalised in Q1 2016, was confirmed earlier this month by the Canadian e-bingo and e-gaming solutions provider. The firm already operates in its home country, the US and Ireland.

The Teknobingo purchase was first announced in April 2015 along with the acquisition of bingo hall operator Bingo Entreprenøren, although the latter deal has since been shelved.

Thorkelsson told TotallyGaming.com that the purchase of Teknobingo offers eQube access to a new market through an established company, as well as the opportunity to build its reputation in Europe.

“eQube is reinvigorating the ‘traditional’ bingo industry with new and unique e-bingo products and related tools that have been designed by bingo operators for bingo operators, but focussed on the ultimate operator suite of tools providing a single view of the customer with a single wallet across offline and online operations,” she said.

“Teknobingo in Norway has a proven system that spans the traditional and digital land-based bingo market and offers a unique range of tools for bingo clubs that we believe will work well in other jurisdictions.”

eQube provides a host of bingo products and services to operators such as provincial gaming regulators in three Canadian provinces. The company’s US customers include Tribal operators, the US Army and other facility operators, while eQube currently operates the largest linked bingo game in Ireland.

The company describes Ireland as a “beachhead” into the UK market, and Thorkelsson said that its success there in the last four years, along with growth and proof of competence in other jurisdictions can help it make a huge breakthrough in the largest single bingo market in the world.

“To give eQube the best chance at success, we needed to prove that our products work for operators in the UK and that we have the ability to provide what bingo operators want in the UK, specifically e-bingo products and tools that enable them to provide an improved customer experience and an enhanced customer environment with impeccable customer service," Thorkelsson said.

“They are called bingo ‘clubs' for a reason. The unique fun, social and community elements to bingo were prevalent before those features became marketing buzzwords.”

Thorkelsson added that eQube’s development in Europe will be greatly aided by the appointment in March 2015 of industry veteran John Purcell as commercial director of European operations.

“John has worked with the leading operators, manufacturers and distributors of bingo, gaming and related technologies for over 20 years,” she said. “This instils a confidence in operators that a recognised expert in the market is working with them.

“We have been working with customers to ensure that our products are fit for purpose for Ireland/UK and European operators and, more importantly, the bingo-playing public. 

“We believe we now have a product that is a perfect fit for the UK and European market and we hope to have the same success in the UK as we have in Ireland.”

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