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LeoVegas to acquire majority stake in iGaming streaming service

8th December 2017 7:03 am GMT

Stockholm-listed betting and gaming operator LeoVegas has acquired a 51 per cent stake in GameGrounds United, owner of the CasinoGrounds live streaming service.

LeoVegas is acquiring the stake via its LeoVentures subsidiary for an initial payment of SEK30m (approx. €3m), together with an earn-out of up to SEK15m based on revenue performance between January and June 2018.

Founded in April 2016, CasinoGrounds streams gameplay via YouTube and Twitch, similar to the way in which console gamers and eSports professionals [...]

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