Mobile gambling group invests in eSports

The LeoVegas Group, through its wholly owned investment company LeoVentures Ltd, has acquired 51 percent of the shares in Pixel Holding Group Ltd, which runs the eSports betting operator Pixel.bet.

The investment amounts to Euro 1.5 million for 51 percent of the company and is made through a new issue.

“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,” said Gustaf Hagman, LeoVegas’ Group CEO and co-founder in a statement Thursday.

“In Pixel.bet we have found a passionate team of entrepreneurs who come from the eSports community. With its strong technology and mobile-first gaming experience, Pixel.bet is a perfect match for the LeoVegas Mobile Gaming Group. Together we will drive development for the premier experience in eSports betting,” says Robin Ramm-Ericson, managing director of LeoVentures and co-founder of LeoVegas Mobile Gaming Group.

Eirik Kristiansen, CEO of Pixel.bet, added: “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.”

Pixel Holding Group Ltd runs the eSports betting operator Pixel.bet and in its next phase is gearing up for a broader launch of its business. Sweden and the Nordics are initial focus markets, with potential to grow further internationally.

Completion of the acquisition is expected during the third quarter 2018. The investment in Pixel Holding Group Ltd will initially not have any significant effect on the LeoVegas Group’s earnings or financial position.

Related and similar