LeoVegas Group Acquires Royal Panda Casino for Euro 60 Million, Completion of the Acquisition is Expected on 1st of December 2017
The LeoVegas group confirmed the acquisition of Royal Panda online casino. The agreement deal between LeoVegas, Royal Panda’s apparent company, and Web Investments was first unveiled at LeoVegas’ Q3-2017 presentation. In addition to the Euro 60 million, conditional earn-out provisions were included in the financial details of the sale. The acquisition is scheduled to be complete by the end of this year.
Gustaf Hagman Group, CEO of Leo Vegas AB commented that this will footprint the group across the UK and make progress with retaining its brand. He also said,
“Royal Panda has in a short time built up an efficient business with an exciting and strong brand. This is a major acquisition that we are carrying out following a carefully executed process. With the help of the strong symbolic value in the panda, the company has built a premium brand among gamers, and we will complement LeoVegas with Royal Panda. This gives us two great brands with global appeal, which makes the scalability in the continued growth strong while strengthening our position in the UK.”
There won’t be any need for much change with Royal Panda. It will still be the same great online casino that it has been since its launch.