M&A at LeoVegas

“In our growing industry there are tremendous opportunities. Finding interesting acquisitions that fit with the Group’s strategy and culture is one such opportunity. In connection with this, we have built up what is my view the industry’s strongest M&A team, and this, together with our ability to collaborate with our acquired companies, makes us an attractive buyer in the ongoing consolidation in the industry.” - Gustaf Hagman, Group CEO

2018

  • The LeoVegas Group, via LeoVentures, acquired 51% of Pixel Holding Group Ltd, which runs the esports betting operator Pixel.bet. Pixel.bet’s vision is to win the esports community by offering the ultimate esports betting experience. The deal closed during the third quarter of 2018. The investment amounted to EUR 1.5 m for 51% of the company.

  • In March LeoVegas completed the acquisition of the Maltese company World of Sportsbetting Ltd, which holds a sports betting licence and casino licence in the German state of Schleswig-Holstein and an approved, nationwide application for a sports betting licence in the German state of Hessen. The licenses give LeoVegas a competitive advantage since it enables the product to become more local. The deal closed on 26 March 2018 for cash payment of EUR 2.6 m.

  • LeoVegas completed an acquisition in the UK during the first quarter 2018, when the company acquired assets from Intellectual Property & Software Limited (“IPS”) and related assets from two closely related companies, including top-ranked brands such as 21.co.uk, Slotboss, Pink Casino and UK Casino. These are now collectively referred to as Rocket X. Rocket X has a local, multibrand strategy with a digital and data-driven customer acquisition strategy. Rocket X has 100% of their revenues generated from the UK market which is large and mature. That is the reason for working with several brands that attract various types of customers. The deal closed on 1 March 2018 for a purchase price of GBP 65 m.

  • The LeoVegas Group, via LeoVentures, acquired 51% of the shares in CasinoGrounds. The company operates the site www.casinogrounds.com, which is a platform for casino streaming with an active social casino forum. CasinoGrounds has created a new behaviour in which people interested in casino watch others play casino games via YouTube and Twitch. The deal closed on 1 January 2018, and the total purchase price including an earn-out amounted to SEK 45 m.

2017

  • The acquisition of Royal Panda strengthened LeoVegas’ expansion, especially in markets outside the Nordics. The acquisition gave LeoVegas another global brand, which improves scalability of continued growth. The deal closed on 1 November 2017 for a purchase price of EUR 60 m plus a maximum earn-out payment of EUR 60 m. The final earn-out amount has not yet been determined.

  • Winga S.r.l. was the first acquisition in the company’s history. Winga was an Italian gaming operator with a licence in the Italian market. The acquisition gave LeoVegas an established position in Italy, which is together with UK Europe’s largest regulated gambling market. The deal closed on 1 March 2017 for a purchase price of EUR 6.1 m.

Director of Corporate Finance

Philip Doftvik - M&A team
+46 735 12 07 20 philip.doftvik@leovegasgroup.com

General Counsel

Vala Karimi