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LeoVegas Group, a leading online casino company, has announced its plans to acquire Push Gaming, a game developer that offers high-quality games to over 200 operators globally. The acquisition will be made through LeoVentures, the investment arm of LeoVegas Group, and aligns with the company's expansion strategy.
Push Gaming is a well-known casino game developer creating digital games for sports betting and gaming companies for years. The company offers over 30 games, including popular titles such as Razor Shark, Wild Swarm, Big Bamboo, and Jammin' Jars. With this acquisition, LeoVegas Group aims to boost its exposure in the fast-growing slots content category and strengthen its content production capabilities.
The financial terms of the agreement have not been disclosed yet. However, LeoVegas Group has stated that purchasing Push Gaming is part of its expansion strategy through investing in-game content creation and distribution. This move is expected to benefit both companies significantly, as Push Gaming will gain access to LeoVegas Group's extensive network of operators. In contrast, LeoVegas Group will benefit from Push Gaming's proprietary technologies and development expertise.
LeoVegas Group's Acquisition of Push Gaming
Background of LeoVegas Group
LeoVegas Group is a Swedish mobile casino gaming company founded in 2011. It is known for providing online casino and sports betting services to customers in various countries. The company has won several awards for its mobile gaming platform and commitment to responsible gambling. LeoVegas Group has been expanding its operations through acquisitions and partnerships with other companies in the gaming industry.
Background of Push Gaming
Push Gaming is a game development company that was founded in 2010. The company is based in London and provides online casino games to operators worldwide. Push Gaming is known for its innovative and high-quality games designed for mobile devices. The company has won several awards for its games, including the EGR B2B Awards for Innovation in Mobile and Innovation in Slot Provision.
Details of the Acquisition
On May 1, 2023, MGM Resorts International announced that its subsidiary, LeoVegas, had agreed to acquire a majority stake in Push Gaming Holding Limited and its subsidiaries. The acquisition will give LeoVegas Group access to Push Gaming's portfolio of more than 30 online casino games, mostly casino slots, which will help the company expand its content production capabilities.
The financial details of the acquisition were not disclosed, but LeoVegas Group stated that it would fund the acquisition through a combination of cash and debt. The acquisition is expected to be completed in the second quarter of 2023, subject to regulatory approvals.
LeoVegas Group's acquisition of Push Gaming is a strategic move that will help the company strengthen its position in the online gaming industry. Push Gaming's innovative and high-quality games will complement LeoVegas Group's existing portfolio of games, and the acquisition will help the company expand its customer base and increase its revenue.
Implications of the Acquisition
Impact on LeoVegas Group's Business Strategy
The acquisition of Push Gaming by LeoVegas Group aligns with the company's strategy to expand through investing in-game content creation and distribution. This move will give LeoVegas greater control over its content, which is crucial in the highly competitive online gaming industry. The acquisition will also allow LeoVegas to reduce its reliance on third-party providers and increase its profitability.
Impact on Push Gaming's Operations and Employees
Push Gaming will remain under the same management team and retain its employees as part of LeoVegas. This acquisition will provide Push Gaming with greater resources to develop new and innovative games, expand its distribution network, and improve its competitiveness in the market. The acquisition will enable Push Gaming to leverage LeoVegas's marketing, distribution, and customer acquisition expertise to reach a wider audience.
Impact on the Online Gaming Industry
The acquisition of Push Gaming by LeoVegas is a significant move in the online gaming industry. It demonstrates the growing trend of consolidation in the industry, with larger companies acquiring smaller ones to gain greater control over the market. This acquisition will enable LeoVegas to compete more effectively with other major players in the industry, such as Bet365 and William Hill. It will also provide Push Gaming with the resources it needs to continue to innovate and develop new games that will attract a wider audience.
Overall, acquiring Push Gaming by LeoVegas is a strategic move enabling both companies to grow and compete more effectively in the online gaming industry. It will give LeoVegas greater control over its content, reduce its reliance on third-party providers, and increase its profitability. At the same time, it will enable Push Gaming to leverage LeoVegas's expertise in marketing, distribution, and customer acquisition to reach a wider audience and develop new and innovative games.
Future Plans for LeoVegas Group and Push Gaming
Plans for Integration and Expansion
LeoVegas Group's acquisition of Push Gaming will lead to significant integration and expansion plans. The acquisition will allow LeoVegas to expand its content production capabilities and offer its customers a wider range of games. The management team at Push Gaming will remain the same, and the company's employees will continue to develop high-quality games distributed via their platform and the remote gaming server.
LeoVegas Group CEO Gustaf Hagman has stated that the acquisition is an important step for LeoVegas' expansion plans. The company plans to integrate Push Gaming's content into its existing platform and to expand its operations in new markets. The acquisition will also allow LeoVegas to expand its product offering and to offer new services to its customers.
Plans for New Products and Services
LeoVegas Group plans to use its acquisition of Push Gaming to develop new products and services. The company plans to use Push Gaming's expertise to develop new games and enhance its existing product offering. The acquisition will also allow LeoVegas to offer new services, such as content distribution and licensing, to other operators in the industry.
Plans for Market Expansion
LeoVegas Group plans to use its acquisition of Push Gaming to expand its operations in new markets. The company plans to use Push Gaming's existing relationships with operators to expand its presence in new markets. The acquisition will also allow LeoVegas to offer its existing products and services to new customers in new markets.
LeoVegas Group has a proven track record of successful market expansion, expanding its operations into several new markets in recent years. The acquisition of Push Gaming is expected to accelerate this expansion and allow LeoVegas to become a major player in the global online gaming industry.