LeoVegas AB: LeoVentures invests in esports betting - Pixel.bet
The LeoVegas Group, through its wholly owned investment company LeoVentures Ltd, has acquired 51% of the shares in Pixel Holding Group Ltd, which runs the esports betting operator Pixel.bet. The investment amounts to EUR 1.5 million for 51 percent of the company and is made through a new issue. Pixel.bet's vision is to create the greatest gaming experience in betting on esports www.pixel.bet
"Esports is an international and fast-growing area that engages millions of viewers and players every month. With this investment in Pixel.bet we as a Group will gain unique insight into a new and fast-growing segment," comments Gustaf Hagman, LeoVegas' Group CEO and co-founder of LeoVegas Mobile Gaming Group.
"In Pixel.bet we have found a passionate team of entrepreneurs who come from the esports community. With its strong technology and mobile-first gaming experience, Pixel.bet is a perfect match for the LeoVegas Mobile Gaming Group. Together we will drive development for the absolute premier experience in esports betting," says Robin Ramm-Ericson, Managing Director of LeoVentures and co-founder of LeoVegas Mobile Gaming Group.
Eirik Kristiansen, CEO of Pixel.bet, comments: "We love esports. And we love betting. We want to create value for enthusiasts and add something truly extra to our community. Pixel.bet is, for example, the first to offer log-in with mobile BankID and instant withdrawals. In LeoVentures we have now found a unique partner and investor that understands and shares our passion."
Pixel Holding Group Ltd runs the esports betting operator Pixel.bet and in its next phase is gearing up for a broader launch of its business. Sweden and the Nordics are initial focus markets, with clear potential to grow further internationally. Pixel.bet has the ambition to position itself as the leading brand in esports betting.
Completion of the acquisition is expected during the third quarter 2018. The investment in Pixel Holding Group Ltd will initially not have any significant effect on the LeoVegas Group's earnings or financial position.
Read more about LeoVentures and its portfolio companies here: http://leovegasgroup.com/leoventures/.
Gustaf Hagman, Group CEO and co-founder: +46 70-880 55 22, email@example.com
Philip Doftvik, Head of Investor Relations: +46 73 512 07 20, firstname.lastname@example.org
About the LeoVegas mobile gaming group
LeoVegas' passion is "Leading the way into the mobile future". LeoVegas is Sweden's premier GameTech company and is at the forefront of using state-of-the-art technology for mobile gaming. In 2017 the company passed the threshold for being classified as a unicorn, i.e., a start-up valued at more than USD 1 billion. A large part of this success can be credited to an extreme product and technology focus coupled with effective and data-driven marketing. Technology development is conducted in Sweden, while operations are based in Malta. LeoVegas offers casino, live casino and sports betting, and operates two global and scalable brands - LeoVegas and Royal Panda - as well as a local, multibrand operator collectively referred to as Rocket X. The company's shares are listed on Nasdaq Stockholm. For more about LeoVegas, visit www.leovegasgroup.com.