LeoVegas Has Sold Authentic Gaming
LeoVegas Group has recently sold its subsidiary Authentic Gaming to Genting for €15m on a debt-free basis. The return on investment is 100% within three years.
Gustaf Hagman, Group CEO, LeoVegas Mobile Gaming Group, said: “This is a milestone for LeoVegas. The time is now right to sell the enterprise to the industry giant Genting, which is the perfect buyer to take Authentic Gaming to the next level. The deal shows our innovative strength in the Group and our ability to develop and build sustainable companies. We have thereby created shareholder value with a more than a 100% return on our investment in Authentic Gaming.”
Authentic Gaming is one of three companies within LeoVentures. The studio has become one of the leading operators in the niche of live casino games with real-time streaming under the ownership of LeoVegas Group.
“Authentic Gaming’s advanced technology and innovative product”
“We have now laid the foundation for Authentic Gaming to take its next big step in live casino,” commented Jonas Delin, CEO and founder of Authentic Gaming. “I am very happy that Genting, with more than 50 years of experience in gaming and entertainment, shares our vision to weave online and land-based casino and has chosen to invest in our product and team. At the same time, I want to thank LeoVegas for their tremendous support since the start and for the platform that LeoVentures has created for us to take us to where we are today.”
Jeremy Taylor, Managing Director of Genting Online, stated: “Our global presence in land-based casino gives us a platform to grow online at a fast pace. Our vision is to offer our customers an amazing gaming experience from all of our casinos around the world, 24 hours a day through any device. With Authentic Gaming’s advanced technology and innovative product, we are convinced that together we have a good position to realize that vision.”
About Genting
Genting is one of the leading Malaysian corporations that is well-known in the gambling industry. It owns over four land-based and online casinos. The company has previously cooperated with Evolution Gaming to fill the niche of live dealer games, but it will now take its own path due to the acquisition of Authentic Gaming.
