LeoVegas acquires 25% stake in SharedPlay30th March 2021 8:56 am GMT
Stockholm-listed gaming operator LeoVegas has agreed to acquire a 25 per cent stake in London-based start-up SharedPlay.
Through its LeoVentures subsidiary, the operator is investing €1.1m for a stake in the B2B business, with an option to increase its ownership in the future in accordance with predefined conditions.
Founded by Karolina Pelc, a seasoned executive with the likes of SG Digital, LeoVegas and Betsson, SharedPlay allows players to share their gaming experiences with each other by enabling multiplayer online casino games.
“SharedPlay was established to capitalise on the opportunities that exist in the current trends in our rapidly growing industry,” said Pelc. “I have closely followed the development of social platforms, how we consume moving pictures, and how it has become part of the gaming industry. We aim to create the best and most engaging product for making casino more social among players.
“There is incredible potential in the strong engagement that exists among the new generation of casino players combined with a safe and secure gaming experience,” Pelc added. “LeoVegas is a dream partner, as they are passionate about the gaming experience and innovation in product development, and have shown through their other investments that they are proficient at driving growth and creating value.”
LeoVegas CEO Gustaf Hagman commented: “We see a new behaviour in the gaming market as well as in many other digital consumer segments - it’s about sharing your fun and excitement with your friends, but also with others who have the same interest.
“The team we are investing in is world-class, and SharedPlay has a unique position with the opportunity to drive the next step in the social casino experience.”
Shares in LeoVegas AB (STO:LEO) were trading 0.48 per cent higher at SEK51.95 per share in Stockholm Tuesday morning.