LeoVegas snaps up Winga.it

LeoVegas has completed the acquisition of Italian gaming operator Winga.it for €6.1 million ($6.4 million).

The deal – LeoVegas’ first acquisition in its history – gives the company 100-per-cent control over an operator with a licence in the Italian market.

Winga.it generated turnover of €8 million in 2016. LeoVegas last week unveiled record financial results for the 12 months through to December 31, 2016, with revenue up 70 per cent year-on-year to €141.4 million.

“This is yet another milestone in LeoVegas’ development,” LeoVegas chief executive Gustaf Hagman said. “The acquisition of Winga.it will enable rapid expansion in Italy, as we are acquiring a company with local knowledge and an established position.

“LeoVegas' expansion strategy is to grow in markets that are either regulated or in the process of being regulated. Our focus on mobile gaming and our proprietary, flexible technology platform create the conditions for a successful acquisition.”

Winga has 33 employees and half of the operator’s revenue is generated by live casino – from a studio environment as well as via a unique product that is broadcast live on Italian television through the Sky Italia platform.

Related article: LeoVegas reveals financial growth in record 2016