LeoVegas finalises acquisition of Royal Panda

| By contenteditor
LeoVegas has completed its previously announced acquisition of Royal Panda

LeoVegas has completed its previously announced acquisition of Royal Panda.

Last month, LeoVegas, via its wholly owned LeoVegas International subsidiary, brokered a deal to acquire all of the shares in Web Investments Limited, the company behind the Royal Panda gaming operator brand.

LeoVegas will pay an initial €60m ($69.9m) to acquire the company, although the deal also includes a possible earn-out payment of an additional €60, making the agreement worth a maximum of €120m.

The calculation of the earn-out payment and additional purchase price is due to commence from December 1.

In a statement, LeoVegas said: “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.”

Related article: LeoVegas posts mixed Q3 results, details acquisition deal

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