LeoVegas completes acquisition of streaming network CasinoGrounds

Business News

LeoVegas announced its acquisition of 51% of the shares in the streaming network CasinoGrounds. LeoVegas completed the acquisition today and has gained possession of the shares in CasinoGrounds.

 Casinogrounds is the leading live streaming site for casino games via YouTube and Twitch and operates the site www.casinogrounds.com, which in a short time has become a casino streaming platform with an active social casino forum. CasinoGrounds cooperates both with operators and game suppliers in the industry.

The purchase price is SEK 30 million, with a potential, maximum earn-out payment of SEK 15 million, which is based on revenue performance during the period January-June 2018.

Based on LeoVegas’ assessment, the full earn-out payment will be made. In addition, the agreement includes an option to purchase an additional 29% of the shares in 2021 or 2022 at 5 times operating profit (EBIT multiple).