Leo Vegas Casino is definitely establishing itself as one of the leading operators in the UK and beyond. The company features popular games and offers lucrative bonuses and promotions, but it is certain that the casino management intends on strengthen its presence in the UK which resulted in the purchase of IPS (Intellectual Property & Software), a limited company which is very active in the UK and owns several online casino brands, including Bet UK, UK Casino, Slotboss and 21.
With the deal, Leo Vegas also becomes the owner of European Domain Management, a company based in Alderney and Rocket 9, a limited company that offers marketing services and is based in Newcastle.
IPS has been rather successful in 2017 and the company’s revenue in the last quarter of 2017 exceeded £11.5 million, which was an increase of almost 50% compared to the same period in 2016/ The three companies taken together earned £3.8 million, which constitutes an earnings margin of almost 33%. The three companies employ a total of 85 individuals.
The deal is worth £65 million and Leo Vegas intends on funding it with its own funds and loans. The company went into debt last year when it purchased Royal Panda Casino. IPS utilises Bede Gaming’s platform, and Leo Vegas went on to secure a deal with Bede Gaming in order to provide a degree of continuity. Gustaf Hagman (CEO), stated that everybody at Leo Vegas are happy with the deal and that this is the best way to celebrate the casino’s six-year anniversary.
He added that the Royal Panda deal gave the company ownership of a second scalable brand and that the company will now proceed to develop a multi-brand strategy. Leo Vegas has also purchased other entities including Casino Grounds, a popular site that streams live casino games.