LeoVegas Closing 65 Million Pound Deal
LeoVegas is strengthening its position in the UK Market by signing a new deal
LeoVegas has confirmed an agreement to purchase Intellectual Property & Software Limited as well as related assets from other brands for an amount of £65m (€73.2m/$88.8m). As part of the deal, the company will acquire assets from the European Domain Management such as, for example, Bet UK, UK Casino, Slotboss and 21.co.uk.
As part of the additional deal, LeoVegas plans to acquire the assets of the marketing company Rocket 9 Ltd. The deal will be financed with cash and existing debt facilities. LeoVegas aims to complete the transaction before the first quarter of the year.
LeoVegas’ group chief executive, Gustaf Hagman, stated, “To be able, at our six-year anniversary of the launch of LeoVegas, to conduct this remarkable acquisition feels just great.
“Following the acquisition of Royal Panda, LeoVegas now works with two scalable brands; we believe that in larger markets our global brands, LeoVegas and Royal Panda, can be complemented with a local, multibrand strategy.
“The UK market is a very large and mature market and that is the reason to work with several brands that attract various types of customers.
“Combined with one of the market’s most effective customer acquisition models, we are now gaining a firm stronghold in the UK with the acquisition of 85 employees with local expertise.”
Further he said, “With this acquisition, we are adding a company culture with a strong technology and product focus which is a perfect fit with LeoVegas’ to further strengthen the group’s position as the leading GameTech company.”