M&A can expand a supplier’s portfolio, but adding scale alone does little for operators. RubyPlay CFO Motti Gil explains why acquisitions need to be built around strategic fit, disciplined integration and products that solve genuine commercial challenges, drawing on RubyPlay’s acquisition of Splash Tech and its move towards a broader content and engagement platform.

There is no shortage of M&A activity in iGaming. Consolidation is happening across the value chain, from operators to platforms and content suppliers. From a supplier perspective, an acquisition is often seen as a quickfire route to growing their size and stature. However, these deals are worthless if they fail to benefit operators in helping to drive their business forward through third party partnerships.

Too often, a supplier looks to grow its product portfolio through the purchase of a company without adding real value to the operators it serves. This tends to happen when a deal is driven primarily by opportunity rather than strategy, for example, acquiring a business simply because a competitor has made a similar move. Wider portfolios look good on paper but can make little practical change to what operators can actually access. That distinction often gets overlooked when analysing M&A within our industry.

Fundamentally, effective M&A activity requires a thorough process that goes beyond simply looking at revenues or profits. Multiple factors need consideration to ensure a deal maximises its potential to benefit the wider ecosystem.