LeoVegas AB Acquires Assets From IPS

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LeoVegas AB Acquires Assets From IPS
LeoVegas AB Acquires Assets From IPS

Leading gaming operator, LeoVegas AB, has acquired digital and other related assets of IPS Limited (Intelectual Property & Software), whose annual revenues in 2017 skyrocketed and generated 11.7 million GBP in the last quarter alone. The agreement includes the acquisition of famous brands 21 Casino, Slot Boss, UK Casino and Bet UK with an additional 3.8 million GBP yield.

The purchase will be settled in cash at a price range of 65 million GBP, making LeoVegas’ presence in the UK as an operator considerably bigger. However, the transaction will be carried out by the company’s subsidiary, LeoVegas Gaming Ltd. Marketing services and Rocket 9 Ltd. assets in Newcastle-upon-Tyne are also included in the agreement.

After revenue assessments of all brands, whose income grew by 49% in the last quarter of 2017, the operator decided to conclude business completely in the first months of 2018. Out of all IPS’ annual proceedings, 96% came from the UK, whereby 73% represent mobile statistics.

By acquiring Royal Panda in 2017, LeoVegas inherited a 100 million EUR debt, whereas 40 million must be paid out to a Revolving Credit Facility. The whole amount is to be compensated within 3 years, since the amortisation period begins in April 2019 at 10 million EUR per quarter.

The gaming operator’s CEO, Gustaf Hagman, is thrilled to have conducted a remarkable acquisition and helped the company grow on a global scale. Thanks to a multibrand strategy, both establishments will now work as extensible labels, especially on the regulated UK market. Positioning the establishment further within the iGaming industry will secure a stronghold in this sector and provide an effective customer acquisition exemplary.

As for IPS, whose main strategy is concentrated on digital optimization, including keywords, data-driven analytics and customer acquisition, the deal will effectively increase reach for potential clients and lead to technical and product enhancements.

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