Web Investments ltd currently owns the majority of shares in Panda Casino and the LeoVegas Group intends to purchase all of their shares to complete the deal. There could be an additional payment of €60 million if certain “financial criteria” are met by the casino moving forward.
To any impartial online casino fans, this merging of two of the industry’s greats should be monumental and exciting news.
The Future of Online Casino
With this huge step forward, LeoVegas is making a massive statement: we’re here to stay, and we’re getting bigger. The casino was already hugely favourite, but the addition of Panda Casino’s arsenal (including their recently-created Sportsbook) is a sign of real intent.
Gustaf Hagman, the CEO of the LeoVegas Group, had this to say:
“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,” said LeoVegas Group CEO, Gustaf Hagman.
“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 while strengthening our position in the UK.”