LeoVegas to Acquire Royal Panda Online Gambling Brand

Discussion in 'Gambling News' started by Marina, Oct 27, 2017.

InterCasino
  1. Marina

    Marina Administrator Staff Member

    In the cut-throat online gambling business, there is no end to the mergers and acquisitions that take part on a regular basis.

    Hot off the press comes the news that LeoVegas, the online and mobile gambling specialist,
    has made plans to acquire the online gambling brand, Royal Panda.


    LeoVegas, which is a publicly listed company on the Stockholm stock exchange, will pay EUR 60 million for the proprietary technical
    platform belonging to Royal Panda as a purchase price. A maximum consideration of EUR 120 million will be paid as an earn-out incentive.

    According to the two groups, the deal is expected to be completed by 1. December this year.

    LeoVegas’ objective is to expand in regulated gaming markets, and the purchase of Royal Panda will help it achieve these goals.
    Royal Panda recently launched a sports book and employs around 60 people from its base in Malta.

    For Royal Panda to receive the extra EUR 60 million payout, it has to achieve a certain level of revenue (EUR 50 million), while its EBITDA has to be at least EUR 15 million.
    In addition, at least EUR 34 million of the company’s Net Gaming Revenue has to be derived from the United Kingdom, and its EBITDA from the country has to be at least EUR 5 million.

    The chief executive officer of LeoVegas, Gustaf Hagman commented on the acquisition plans and said:

    “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,” he said.
    “This gives us two great brands with global appeal, which makes the scalability in the continued growth strong strengthening our position in the United Kingdom.”

    LeoVegas has several long term targets which have been made public. In particular, the group is aiming for long-term organic growth above the online gaming market. It is also
    aiming for a 15% EBITDA margin assuming it is participating in 100% regulated markets.LeoVegas also aims to distribute a minimum of 50% of net profit over time as its dividend policy.


    [​IMG]

    LeoVegas online casino is a popular destination for players. The platform also offers a live casino and a sports book.
     
  2. SuperNova

    SuperNova Well-Known Member

    Another change in the gambling industry, but I think it will be not so bad because Leovegas is a really good online Casino.
     
    Marina likes this.

7 Gods Casino
  1. This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
    By continuing to use this site, you are consenting to our use of cookies.
    Dismiss Notice