LeoVegas completes acquisition of streaming network CasinoGrounds
On 6 December 2017 LeoVegas announced its acquisition of 51% of the shares in the streaming network CasinoGrounds. LeoVegas completed the acquisition today and has gained possession of the shares in CasinoGrounds.
Casinogrounds is the leading live streaming site for casino games via YouTube and Twitch and operates the site www.casinogrounds.com, which in a short time has become a casino streaming platform with an active social casino forum. CasinoGrounds cooperates both with operators and game suppliers in the industry.
The purchase price is SEK 30 million, with a potential, maximum earn-out payment of SEK 15 million, which is based on revenue performance during the period January-June 2018. Based on LeoVegas' assessment, the full earn-out payment will be made. In addition, the agreement includes an option to purchase an additional 29% of the shares in 2021 or 2022 at 5 times operating profit (EBIT multiple).
For further information on the acquisition, see the press release from 6 December 2017, at www.leovegasgroup.com.
For further information, please contact:
Gustaf Hagman, Group CEO and co-founder: +46 70-880 55 22, email@example.com
Philip Doftvik, Head of Investor Relations: +46 73-512 07 20, firstname.lastname@example.org
Visitors address: Luntmakargatan 18, Stockholm
Corporate identity number: 556830-4033
About the LeoVegas mobile gaming group
LeoVegas' passion is "Leading the way into the mobile future". LeoVegas is Sweden's premier GameTech company and is at the forefront of using state-of-the-art technology for mobile gaming. In 2017 the company passed the threshold for being classified as a unicorn, i.e., a start-up valued at more than USD 1 billion. A large part of this success can be credited to an extreme product and technology focus coupled with effective and data-driven marketing. Technology development is conducted in Sweden, while operations are based in Malta. LeoVegas offers casino, live casino and sport gaming, and operates two global and scalable brands - LeoVegas and Royal Panda. The company's shares are listed on Nasdaq First North Premier, and Avanza Bank AB is the company's Certified Adviser. For more about LeoVegas, visit www.leovegasgroup.com