Acquisition strengthens LeoVegas’ expansion in regulated markets
LeoVegas completes purchase of Royal Panda
LeoVegas will pay an initial USD 69.9M to buy the company.
2017-11-02
Reading time 26 seg
Last month, LeoVegas, via its wholly owned LeoVegas International subsidiary, secured a deal to acquire all of the shares in Web Investments Limited, the firm behind the Royal Panda gaming operator brand.
LeoVegas will pay an initial €60m ($69.9m) to buy the company. The deal also includes a possible earn-out payment of an additional €60, making the agreement worth a total of €120m.
The calculation of the earn-out payment and additional purchase price is due to commence from December 1.
Commenting on the purchase, LeoVegas said, “The acquisition of Royal Panda strengthens LeoVegas’ expansion in regulated gaming markets, especially in the UK, and adds a strong and exciting brand to the LeoVegas Group.”
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