Never one to shy away from the spotlight, LeoVegas has recently made public its intentions to purchase the well-known online brand, Royal Panda Casino. Not only that, but it is speculated that this $120 million venture could be signed and sealed as early as December 1st of this year.
Already more popular than 95% of online casinos in the industry, LeoVegas will be catapulting its appeal even further into the stratosphere with this monumental acquisition. With all Royal Panda Casino shares currently owned by Web Investments Ltd, LeoVegas will need to buy them out in full for that whopping $120 million price tag.
The CEO of the LeoVegas Group, Gustaf Hagman, said that:
“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. This gives us two great brands with global appeal, which makes the scalability in the continued growth strong.”
This attempt by LeoVegas to segue its way deeper into the online casino market has been viewed by many as a bold and exhilarating advance. With Royal Panda Casino having recently opened a Sportsbook as well, the future looks very bright for both sides.