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On 12 January 2018 LeoVegas announced its acquisition of the assets of Intellectual Property & Software Limited (“IPS”) and related assets from two other companies with top brands such as 21.co.uk, Slotboss, BetUK and UKCasino. The collective name for these is now Rocket X. The acquisition is being made for a purchase price of GBP 65 m. LeoVegas hereby announces that all of the conditions have been met and that the acquisition was completed today.
The acquisition will further strengthen LeoVegas’ presence in the UK and its position as the leading mobile gaming group.
Since its start LeoVegas has pursued a global brand strategy that is very successful. In larger markets the Group’s two global brands, LeoVegas and Royal Panda, can be complemented with a local, multibrand strategy. The UK is such a large and mature market that it warrants working with several brands that attract various types of customers. Rocket X has a strategy that focuses on digital and data-driven customer acquisition and thereby has one of the market’s most effective customer acquisition models.
For more information about the acquisition, see the press release from 12 January 2018 and LeoVegas’ interim report for the fourth quarter of 2017, which was published on 7 February 2018. The press release and the report are available at www.leovegasgroup.com.
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 Stockholm.
Source: European Gaming Media and Events