The LeoVegas mobile gaming group is to sell its subsidiary, Authentic Gaming to Genting, the Malaysia-based international casino group.
The deal, worth €15m, represents a return to LeoVegas of over 100 per cent over a three-year period. Authentic is dedicated to the live casino market and is one of the three companies held by LeoVentures, the LeoVegas investment company.
Said Jonas Delin, CEO and founder of Authentic Gaming: “We have laid the foundation for Authentic Gaming to take its next big step in live casino. I am happy that Genting, with over 50 years’ experience in gaming, shares our vision to weave online and land-based casino.”
Genting, said Jeremy Taylor, managing director of Genting Online, is growing its online business fast. “Our global presence in land-based casino gives us a platform for this. We want to offer customers a gaming experience from all of our casinos around the world, 24 hours a day, through any device. With Authentic’s advanced technology and innovative product, we are convinced that together we have a good position to realise that ambition.”
Authentic Gaming generated €1m in revenue in its second quarter of the year. The deal with Genting is expected to close around now.
