LeoVegas, King of Mobile Casino, to Acquire Royal Panda

It’s been one busy week for King of Mobile Casino LeoVegas!

The team behind LeoVegas Casino has been awfully busy in the last week. On Tuesday, October 24, 2017, the company announced its intention to acquire Royal Panda Casino, a major competitor in the UK mobile casino sector. Two days later, the management team was in attendance at the 2017 EGR Operator Awards in London, where they proudly accepted the title of Mobile Casino Product of the Year.

King of Mobile Casino LeoVegas

Things are looking straight up for LeoVegas these days. That’snothing new, though. The company has been on an upward streak ever since the Swedish office opened in 2012. In the last five years, their goals have been steadily deployed, and easily exceeded.

The acquisition of Royal Panda will no doubt meet those goals. The utmost mission for the oft-lauded King of Mobile Casino is to expand its presence, especially in the UK, and especially in the mobile sector.

King of Mobile Casino LeoVegas: Lion takes on Panda

In a press release issued Tuesday, it was confirmed that LeoVegas AB has completed negotiations to purchase Royal Panda’s parent company, Web Investments Limited. The price includes dual payments of €60 million upfront, and another €60 million when the deal is finalized ( on or before December 1, 2017), so long at Royal Panda meets specific criteria.

In order to receive the second €60 million payment, Royal Panda must achieve the following revenue generation prior to the deadline:

  • Meet or exceed Net Gaming Revenue (NGR) of €50 million
  • Meet or Exceed UK-derived NGR of €34 million
  • Meet or exceed EBITDA of €15 million
  • Meet or exceed UK-derived EBITDA of €5 million

Royal Panda Casino Worthy of LeoVegas Demands?

King of Mobile Casino LeoVegas to acquire Royal Panda CasinoAs things stand, Royal Panda should have no trouble meeting the criteria detailed above. The digital casino product earned more than 50% of its Q3-17 revenue from UK clients. Plus, 65% percent of their overall yield came from mobile. From Q3-16 to Q3-17, the company grew at an enormous rate, with revenue rising 61% to €9.8 million.

Gustaf Hagman, CEO of the LeoVegas Group, had no doubts when he issued the following statement about their upcoming investment.

Royal Panda has in a short time built up an efficient business with an exciting and strong brand. This is a major acquisition that we are carrying out following a carefully executed process. 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. 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.”

Assimilation in the Cards for Royal Panda?

The plan seems to be to keep the two entities separate. LeoVegas Casino and Royal Panda will remain on their own platforms. As for live casino gaming, each will maintain their own bespoke private tables, at least for the time being. That could certainly change in the future, with the option to reduce costs and raise brand awareness by sharing private tables.

Such tandems in the live dealer sector have been successfully maneuvered by other companies in the past, including enterprises of the Betsson Group, Clubhouse by GVC, and Paddy Power Betfair.

There’s also heightened potential for Royal Panda to sign agreements with additional software brands. The King of Mobile Casino LeoVegas earned its stellar reputation in part by integrating 39 software brands to date. Royal Panda currently employs 10 software groups, 8 of which are already found in the LeoVegas portfolio.

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