Record Year for iGaming Mergers and Acquisitions Expected in 2024

The iGaming sector is poised for an exceptional year in mergers and acquisitions, with 2024 already the second-largest year in history by total sales value. Data from UK affiliate platform Bojoko.com highlights a significant increase in the number and value of iGaming transactions, underscoring the industry’s consolidation trend.

The dataset shows that 2023 has already hit $15,7 billion in reported transactions, with many deals going for undisclosed amounts. This is less than 4 billion behind 2022’s all-time record of $19,1 billion.

One significant transaction made this possible: Silver Lake’s acquisition of Endeavor Group Holdings for $13 billion, the highest-priced iGaming acquisition ever reported. The trend is, however, clear. Each of the three last years set consecutive records for the number of iGaming M&As taking place:

• 2021: The industry saw 53 deals worth a combined $11.7 billion.
• 2022: The current record year in terms of money changing hands, with $19.1 billion in sales across 57 deals. 
• 2023: Highest volume of transactions to date with 77 deals totalling $7.223 billion.

The current number of 2024 iGaming mergers and acquisitions tracked by Bojoko.com is 33, which means the year is behind in total deals, but the record deal is still expected to make 2024 a record year.

Joonas Karhu, CEO of Bojoko, comments on the trend: “The data clearly shows a strategic shift towards consolidation in the iGaming sector. Companies are leveraging mergers and acquisitions to enhance their technological capabilities and expand their market footprint.” 

He further adds, “With the current momentum, 2024 is likely to surpass previous records. Just one big merger or acquisition could do it alone. We already had one other billion-dollar acquisition in 2024, with Brightstar Capital Partners acquiring PlayAGS for $1.1 billion, and based on trends from previous years, we can, at the very least, expect multiple additional deals at several hundred million dollars each.

Bojoko’s database recorded 17 deals at $100 million or more in 2022 and 2023, while 6 have been recorded so far in 2024. “Knowing the industry, we will see several big deals over the coming five months. The only question is how many records 2024 will set,” adds Karhu.