JUE 28 DE MARZO DE 2024 - 18:35hs.
A €15 million deal

LeoVegas sells its subsidiary Authentic Gaming to Genting

Casino giant Genting Group has struck an agreement to acquire LeoVegas’ live dealer solutions subsidiary Authentic Gaming. The deal, worth €15 million, represents a return to LeoVegas of over 100% over a three-year period. 'The time is now right to sell this division to the industry giant Genting, which is the perfect buyer to take Authentic the next level,' said LeoVegas Group CEO, Gustaf Hagman.

Authentic Gaming, which broadcasts live casino content from land-based casinos around Europe, has operated as an independent division of the operator for the past three years, having been funded by its investment arm LeoVentures. It is currently one of three holdings in LeoVentures, alongside eSports betting brand Pixel.Bet and casino streaming portal CasinoGrounds.

“We have now laid the foundation for Authentic Gaming to take its next big step in live casino,” Authentic Gaming founder and chief executive Jonas Delin said. “I am very happy that Genting, with more than 50 years of experience in gaming and entertainment, shares our vision to weave online and land-based casino and has chosen to invest in our product and team.”

Jeremy Taylor, managing director of Genting Online, said the operator's land-based casino estate provided a platform to grow its online business rapidly. "Our vision is to offer our customers an amazing gaming experience from all of our casinos around the world, 24 hours a day through any device," he explained. "With Authentic Gaming’s advanced technology and innovative product, we are convinced that together we have a good position to realise that vision.”

LeoVegas Group chief executive Gustaf Hagman described the deal as a "milestone" for the operator. "The time is now right to sell the enterprise to the industry giant Genting, which is the perfect buyer to take Authentic Gaming to the next level," he said.

Source: GMB