A Sweden-based gaming company, LeoVegas, announced the acquisition of Royal Panda brand from Web Investments Limited.
Web Investments Limited is a Maltese company that specializes in the gaming sector for many years now. LeoVegas announced that the full buy out is a €100m deal and €60m will be paid up front.
Gustaf Hagman, Chief Executive Officer at LeoVegas:
“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.”
