Recently, LeoVegas CEO, Gustav Hagman, confirmed that it has sold its live casino brand, Authentic Gaming (AG). Hagman stated they have sold it to the Genting Group for £12.88 million. All and all, the company CEO was very positive about this move. He sees this as proof that LeoVegas can build up innovative new companies. Plus, it shows that they can launch a successful start-up and make it work in the tough iGaming world.
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To sum up, Leo Ventures is the investment arm of LeoVegas Casino. And, it’s this branch that’s been investing in AG until recently. But as you probably know, Leo Venture has grown other brands besides Authentic Gaming. In fact, the group has fingers into many pies, such as other casino brands but also eSports businesses too.
Clearly, LeoVegas is having success creating and growing new companies outside of the LeoVegas name. And surely, AG is the perfect example of this. There is no denying that AG has become a very impressive Live Casino and live dealer solution. Indeed, it lets players stream quality live games from the casino floor, straight onto their screen. Plus, it’s accessible in multiple jurisdictions all over Europe. And that’s certainly appealing for the Genting Group who wants to deepen its footprint into more markets.
All and all, AG will also benefit from this move. This is a big new step into the live casino arena. But the Genting Group isn’t new to the live casino vertical. In the past, they’ve worked with Evolution Gaming.
But with the acquisition of AG Genting Group can now grow its live casino presence by launching the AG products at its own venues. And the product should be available 24/7 imminently too. This seems like a huge step forward for both parties, and evidence that LeoVegas is more than just a mobile casino site now.