LeoVegas Group, through its investment company LeoVentures Ltd, announced the acquisition of 51% stake in Pixel Holding Group Ltd, the company behind the eSports betting operator Pixel.bet, for €1.5m.
Pixel.bet aims to position itself as the leading brand in eSports betting and it’s currently gearing up for a broader launch of its business across Europe. Initially, this expansion will focus on the Swedish and Nordics markets.
“eSports is an international and fast-growing area that engages millions of viewers and players every month. With this investment in Pixel.bet we as a Group will gain unique insight into a new and fast-growing segment.”, comments Gustaf Hagman, LeoVegas’ Group CEO and co-founder of LeoVegas Mobile Gaming Group.
Eirik Kristiansen, CEO of Pixel.bet, comments: “We love eSports. And we love betting. We want to create value for enthusiasts and add something truly extra to our community. Pixel.bet is, for example, the first to offer log-in with mobile BankID and instant withdrawals. In LeoVentures we have now found a unique partner and investor that understands and shares our passion.”
This acquisition is expected to be finalised during the third quarter 2018. The recent investment in Pixel.bet will not have any significant initial effect on the LeoVegas Group’s earnings or financial position.
LeoVegas is Sweden’s premier GameTech company and is at the forefront of using state-of-the-art technology for mobile gaming. In 2017, the company passed the threshold for being classified as a unicorn, i.e., a startup valued at more than $1 billion USD. LeoVegas offers casino, live casino and sports betting, and operates two global and scalable brands – LeoVegas and Royal Panda – as well as a local, multibrand operator collectively referred to as Rocket X.
Pixel.bet self-proclaims as “the fastest mobile eSports betting platform made by gamers for gamers”. The eSports casino offers punters the option to bet on the biggest eSports event such as DOTA 2, LoL, CS:GO, Hearthstone, Smite, World of Tanks and Heroes of the Storm.
Image source: pixel.bet, leovegasgroup.com