LeoVegas Obtains Intellectual Property & Software Ltd.

LeoVegas, a leading operator in the gaming industry, has signed an agreement to acquire Intellectual Property & Software Ltd. (IPS) and a range of its UK-targeted brands.

"The U.K. market is a very large and mature market and that is the reason to work with several brands that attract various types of customers. In IPS we see several attractive attributes, and they have tremendous momentum in their growth and profitability,” comments Gustaf Hagman, LeoVegas' Group CEO, as LeoVegas has strengthened their position in the UK with the acquisition of Royal Panda, and now obtains such brands as Bet U.K., Slot Boss, and UK Casino among others.

“a highly successful global brand strategy”

IPS is based is based in Alderney, and has licenses of Class 1 and Class 2, issued by the Gambling Control Commission of this jurisdiction. It has more than ten casinos and six Bingo brands focused on the British market and four Sweden-targeted operators. The estimated revenue of IPS in the last quarter of 2017 is £11.7 million. The acquisition of the Intellectual Property & Software by LeoVegas is set to close by the second quarter of 2018

“To be able at our six-year anniversary of the launch of LeoVegas to conduct this remarkable acquisition feels just great! Since its start, LeoVegas has pursued a highly successful global brand strategy. Following the acquisition of Royal Panda, LeoVegas now works with two scalable brands. We believe that in larger markets our global brands, LeoVegas and Royal Panda, can be complemented with a local, multi-brand strategy,” adds Hagman.

For more details on the acquisition of Royal Pandaclick here.