LeoVegas acquires Royal Panda in $139 million buy-out deal

  • RP players can expect a wider range of games online
  • LeoVegas continues with major expansion push

LeoVegas International has agreed a multi-million dollar deal to acquire Malta-based gaming brand Web Investments Limited, which operates the Royal Panda online casino.

LeoVegas acquires Royal Panda
LeoVegas acquires Royal Panda

Full financial details of the acquisition are expected to be released in December, including any earn-out payments. The deal is worth around €60m ($69.9m) to WI Ltd at this stage, but the final figure could be twice as high.

Exciting news for Royal Panda players

Royal Panda launched in 2014 and holds operating licenses in Malta and the UK. It offers online slots and casino games, including licensed content from top providers such as Microgaming and NextGen Gaming.

The casino brand also has a deal with BetConstruct to offer a sports betting service within the UK, and it is the shirt sponsor of English Championship soccer team Queens Park Rangers.

In teaming with LeoVegas, Royal Panda’s reach will expand to a far wider audience. LeoVegas Casino is one of the UK’s leading online casino operators, with its own Casino, Live Casino and Sportsbook brands.

It has access to the game portfolios of many top developers, including NetEnt, Yggdrasil, IGT and Playtech. LeoVegas is one of the industry’s mobile gaming pioneers, with CEO Gustaf Hagman calling mobile play the “fastest growing channel for entertainment”.

What to expect from LeoVegas

In acquiring Royal Panda, players at the virtual casino will get access to a far wider range of slot games and casino table games. This includes LeoVegas’ live casino software, which is available for desktop and mobile.

The improved mobile software will ensure Royal Panda players can access the latest game titles through just about any device, and there will be a more comprehensive range of services and support tools open to players.

The LeoVegas brand is in the midst of a period of expansion and reform. There has been a reshuffle among senior management, with co-founder Robin Ramm-Ericson stepping down from the senior executive team. Meanwhile, the brand is looking to secure its position near the top of the market by making deals and securing merger agreements over its rivals.

The strategy has had mixed results so far, but the future looks good for LeoVegas. Revenue for the third quarter rose 40% year-on-year, recent company figures revealed. This has been bolstered by a 30% jump in depositing customer rates. However, operating profit is down due to increased expenditure as the brand expands aggressively.

LeoVegas has taken a gamble this year, and only time will tell if that gamble is going to pay off.

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