LeoVegas completes the acquisition of the gaming operator Royal PandaSource: OMX
On 24 October LeoVegas published a press release regarding the acquisition of the gaming operator Royal Panda. The acquisition was subject to approval by the Maltese authorities and LeoVegas hereby announces that all conditions have now been met and that the acquisition and access of the shares is completed as of today.
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. The acquisition is being made for a purchase price of EUR 60 m with a possible earn-out payment of an additional EUR 60 m. The total purchase consideration can thus amount to a maximum of EUR 120 m. The calculation of the earn-out payment and additional purchase price will commence from 1 December 2017.
For more information regarding the acquisition please refer to the press release published on 24 October 2017 and to LeoVegas interim report for the third quarter of 2017 published the 25th of October 2017. The press release and the quarterly report can be found on www.leovegasgroup.com.
Gustaf Hagman, Group CEO and co-founder: +46 70-880 55 22, firstname.lastname@example.org
Viktor Fritzén, Group CFO: +46 73-612 26 67, email@example.com
Philip Doftvik, Head of Corporate Finance and Investor Relations: +46 73 512 07 20, firstname.lastname@example.org
Visitors address: Sveavägen 59, Stockholm
Corporate identity number: 556830-4033
About the LeoVegas mobile gaming group
LeoVegas' vision is to create the ultimate mobile gaming experience and be number one in mobile casino. The business is distinguished by award-winning innovation and strong growth. LeoVegas' technical development is conducted in Sweden, while operations are based in Malta. The Swedish parent company LeoVegas AB (publ) invests in companies that offer gaming via mobile devices and desktop computers along with companies that develop related technologies. LeoVegas has attracted major international acclaim and has won numerous awards, including "Operator of the year", "Mobile Marketing Campaign of the year", and "Innovation in Mobile and Tablet of the Year" at the international EGR Awards. LeoVegas bases its development on "Mobile First" and is at the forefront of using state-of-the-art technology in the mobile gaming market. With a foundation in a great gaming experience, long-term customer relationships and establishment of a strong brand, the company has attracted a steadily growing customer base through innovative, effective and data-driven marketing. Since its start, the mobile gaming company LeoVegas has shown strong quarter-on-quarter growth. LeoVegas' shares are listed on Nasdaq First North Premier. Avanza Bank AB is the company's Certified Adviser. For more about LeoVegas, visit www.leovegasgroup.com or www.leovegas.com.