🖐 Dutch regulator issues fines to LeoVegas and Royal Panda | iGaming Business

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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. LeoVegas AB. Royal Panda, debt financing of EUR million and adjusts targets. Subscribe via ATOM. If certain financial milestones are met within 12 months after the date of completion, Royal Panda is entitled to a maximum earn-out payment of EUR 60 m. The financing has a term of three years, and amortisation will commence in the second quarter of in the amount of EUR 10 m quarterly. Subscribe via RSS. The launch looks promising and LeoVegas believes that the Royal Panda brand also works well with sport customers. With a foundation in a great gaming experience, long-term customer relationships and establishment of a strong brand, the company has attracted a steadily growing customer base through innovative, effective and data-driven marketing. The total purchase consideration can thus amount to a maximum of EUR m.

The acquisition is being made for a purchase price of EUR 60 m with a possible earn-out payment of an additional EUR 60 m. About Royal Panda Royal Panda has a proprietary technical platform focused on link casino, and the company recently launched a sportsbook.

For more about LeoVegas, visit www. The acquisition of Royal Panda is in line who owns royal panda casino LeoVegas strategy to continue growing on regulated markets. The Swedish parent company LeoVegas AB publ invests in companies that offer gaming via mobile devices and desktop computers along with companies that develop related technologies.

This is a who owns royal panda casino acquisition that we are carrying out following a carefully executed process. Email Print Friendly Share. Since its start, the mobile gaming company LeoVegas has shown strong quarter-on-quarter growth. LeoVegas has a strong cash position that has been used for the initial purchase price.

LeoVegas bases its development on "Mobile First" and is at the forefront of using state-of-the-art technology in the mobile gaming market.

Completion of the acquisition is expected to be transferred on 1 st of December About the acquisition The acquisition of Royal Panda strengthens LeoVegas' expansion in regulated gaming markets, especially in the UK, and adds a strong and exciting brand to the LeoVegas Group.

Due to the acquisition and in order to act on future acquisition opportunities, the LeoVegas Group has obtained debt financing of EUR million, of which EUR 40 million constitutes a revolving credit facility. GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

With the acquisition of Royal Panda, LeoVegas can now leave the short-term financial targets for since the targets were set without taking any major acquisitions into account. The business is distinguished by award-winning innovation and strong growth. 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," comments Gustaf Hagman, Group CEO, LeoVegas. The interest rate on financing is approximately 2 percent. Register Sign In. Presentation of the acquisition will be given in conjunction with the presentation of LeoVegas' third quarter, which takes place 25 th October at CET and will be reached via the link:. In addition, LeoVegas has obtained a debt financing of EUR m in order to act on future acquisition opportunities. The information was submitted, by the agency of the contact persons below, for publication at CET on 24 th of October About the LeoVegas mobile gaming group LeoVegas' passion is "Leading the way into the mobile future". LeoVegas' technical development is conducted in Sweden, while operations are based in Malta. The company today has approximately 60 employees, and its head office is located in Malta.