LeoVegas Signs Agreement to Acquire Royal Panda

LeoVegas Group acquires Maltese operator Royal Panda and all its shares according to a new agreement. The purchase, expected to be fully completed on the 1st of December 2017, will strengthen the position of LeoVegas within the gambling markets of many countries.

“… popular casino and sportsbook with the library of about 300 titles …”

The agreement sets the purchase price of €60m, paid to Royal Panda, with a possibility of receiving an additional €60m earn-out payout if the acquired operator meets set financial goals after 12 months from the acquisition date.

"Royal Panda has in a short time built up an efficient business with an exciting and strong brand. This is a major acquisition that we are carrying out following a carefully executed process. With the help of the strong symbolic value in the panda, the company has built a premium brand among gamers, and we will complement LeoVegas with Royal Panda. This gives us two great brands with global appeal, which makes the scalability in the continued growth strong while strengthening our position in the UK,"  comments Gustaf Hagman, Group CEO, LeoVegas.

Royal Panda is the operator, launched in 2014 and licensed in Malta and the UK. The popular casino and sportsbook has a library of about 300 titles and a big choice of payment methods. Its target market is the United Kingdom that has given 50% revenue in the third quarter of 2017.