LeoVegas completes acquisition of streaming network CasinoGrounds

On 6 December 2017 LeoVegas announced its acquisition of 51% of the shares in the streaming network CasinoGrounds. LeoVegas completed the acquisition today and has gained possession of the shares in CasinoGrounds.Casinogrounds is the leading live streaming site for casino games via YouTube and...

London, 01/01/2018 (informazione.news - comunicati stampa - turismo)

On 6 December 2017 LeoVegas announced its acquisition of 51% of the shares in the streaming network CasinoGrounds. LeoVegas completed the acquisition today and has gained possession of the shares in CasinoGrounds.

Casinogrounds is the leading live streaming site for casino games via YouTube and Twitch and operates the site www.casinogrounds.com, which in a short time has become a casino streaming platform with an active social casino forum. CasinoGrounds cooperates both with operators and game suppliers in the industry.

The purchase price is SEK 30 million, with a potential, maximum earn-out payment of SEK 15 million, which is based on revenue performance during the period January-June 2018. Based on LeoVegas' assessment, the full earn-out payment will be made. In addition, the agreement includes an option to purchase an additional 29% of the shares in 2021 or 2022 at 5 times operating profit (EBIT multiple).

For further information on the acquisition, see the press release from 6 December 2017, at www.leovegasgroup.com.

Gustaf Hagman, Group CEO and co-founder: +46 70-880 55 22, gustaf.hagman@leovegas.com
Philip Doftvik, Head of Investor Relations: +46 73-512 07 20, philip.doftvik@leovegas.com
Visitors address: Luntmakargatan 18, Stockholm
Corporate identity number: 556830-4033

www.leovegasgroup.com