For the amount of €120 million LeoVegas purchased Royal Panda Casino
Very soon, before the new 2018 year comes the famous online casino Royal Panda is going to be purchased by the LeoVegas Group.
It has been already decided the final transfer to be completed by the 1st Dec., 2017 for the amount of €120 million.
One of the most well known mobile casinos LeoVegas is going to acquire all of the RP shares currently owned by Royal Panda Casino.
A similar sale-purchase could increase the LeoVegas Group's chances to expand on the stage of the online casino markets (including the UK) and could be also extremely profitable for both parties.
Facts about the sale-purchase
According to the information reported in a sportsbook, the Royal Panda casino aims to reach more markets, especially British ones. It appeared that UK market was very profitable for the online casino as it realized 50% of its revenue in the third quarter of 2017.
After receiving the first part of €60 million payment from Leo Vegas, Royal Panda will have to meet some requirements before getting the additional €60 million payout.
Leo Vegas as a famous casino has its own goals too. By acquiring Royal Panda the group will expand its reach.
According to Gustaf Hagman, LeoVegas Group CEO, the purchase is a major acquisition, as Royal Panda has built up a very profitable business for a short time. The combination of two great brands will strengthen their position on the UK market.
Similar deals will stimulate the growth of the LeoVegas group and casinos it represents providing an extremely bright future on the stage of the online and mobile casino business.