Leo Vegas Group Purchases UK Casino Operator for GBP 65 Million
Stockholm-based gambling group LeoVegas celebrated its sixth anniversary by entering a new acquisition deal with Intellectual Property and Software Limited, one of UK’s rapid growing operators. The acquisition deal includes a GBP 65 million purchase price along with all assets related to the operator including its top branded online casinos.
Gustaf Hagman, LeoVegas’ Group CEO released the following statement late last week regarding the acquisition;
“Since its start LeoVegas has pursued a highly successful global brand strategy. 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.”
Hagman added, “In IPS we see several attractive attributes, and they have tremendous momentum in their growth and profitability. 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. 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 a leading GameTech company.”