LeoVegas has announced the acquisition of 51 per cent of shares in the streaming network CasinoGrounds.
A leading live streaming site for casino games via YouTube and Twitch, CasinoGrounds has an active social casino forum and co-operates with operators and game suppliers in the industry.
The purchase price is SEK30m, with a potential maximum earn-out payment of SEK15m, based on revenue performance during the period from January to June, 2018.
The agreement also includes an option to purchase an additional 29 per cent of the shares in 2021 or 2022 at five times operating profit.
