Leo Vegas has purchased Royal Panda for a reported fee of €60 m.
An additional maximum of €60 m will be paid in a 12 month earn out if the following targets are met.
The purchase of Royal Panda is in line with LeoVegas’s strategy to continue growing in regulated markets and represents the largest ever purchased they have made.
It’s taken two years to find the right Company with the right people and culture.
Gustaf Hagman, Group CEO, LeoVegas said:.
“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.”
Leo vegas buys Royal Panda at a time when there is a lot of consolidation going on in the iGaming industry and this is unlikely to be the last we’ll see.
Royal Panda and Leo Vegas both have great Live Casino products, both with dedicated tables at Evolution Gaming.
It will be interesting to see whether any consolidation will be performed on the live casino side, as there are definite synergies between the two therefore opportunities for cost savings.
I very much hope that we see the two branded areas retained.
I have tried to be objective and consistent with all my live casino reviews. Hopefully, they will strike a chord with you, but I thought it might be helpful to explain the criteria I use to mark each of the casinos. Hopefully, the categories and explanations make sense.
Playability – What is the overall impression of the casino? Did I have a good time? are the dealers nice and chatty and is everything easy to understand? Does it have a good set of games and is there a comprehensive set of betting options? Are high stakes players taken care of?
Software – What is the software like to use and does it integrate well with the rest of the casino?. Are the images clear and is the video streaming fast? Have they taken more than the default shared tables? Is it available on mobile?
Payment Options – Does the casino have a good variety of payment options? Do they payout quickly and on time?
Security – How good is the reputation of the casino amongst other players? Do they hold a valid gaming license? Are they transparent about the security measures they have in place? Are they regularly audited? Do they publish this information?
Support – Do they have multiple methods for communication with me? Is support available 24×7? Do they have instant chat and are they quick to respond? Are they able to help me immediately? Do they have an online FAQ and self-help library? Are the support people knowledgeable about the product I’m playing?
Bonuses – Do they have bonuses?. How strict are the wagering requirements? Do they offer repeat bonuses?. Do they offer loyalty points and can they be redeemed for cash or playing credits?
After all that, would I play there regularly?