Royal Panda Casino is one of the top UK online casinos. The same can be said of Leo Vegas. From the first of December onwards, the two popular casinos will be run by the same company. Namely, it has been announced that Web Investments Ltd, the company that owns Royal Panda at the moment, accepted the offer of Leo Vegas International Ltd and decided to sell Royal Panda for a hefty price of €100 million.
The story of Leo Vegas and its management is truly impressive. The casino was launched in 2012 and its primary focus was mobile gaming. The management managed to recognise that mobile gaming will become the future of gaming and in a couple of years Leo Vegas established itself as one of UK’s top mobile casinos. Royal Panda’s primary market is also the British market, and that’s why the purchase is seen as a pretty logical step.
The deal includes an upfront payment of about €60 million and an additional payment of up to a maximum of €60 million if Royal Panda meets the agreed revenue level. Namely if the net gaming revenue reaches €50 million in the upcoming 12 month period, the seller will receive the maximum price.
The CEO of Leo Vegas confirmed the agreement between the two companies. He added that the deal has a great symbolic importance for the company as it managed to obtain another great brand which will now give the company a more global appeal while it will certainly boost its position in the UK as well.
It has been announced that Leo Vegas will change its short-term goals, but the company’s long-term plans will remain largely unchanged. Head to Leo Vegas Casino today and try your luck on some of the most popular mobile games.