LeoVegas spends on growth

A somewhat overlooked area of gambling is the social aspect it brings. Where we see a steady increase of, not only acceptance. But also the “need” to share the experience or feeling of a specific round or casino session gave. Say you just hit a massive multiplier win or a jackpot drop in your favor. Why wouldn’t you want to share that with equally minded individuals and their community? Well, LeoVegas, through its LeoVentures Ltd, is doing just that. This by investing in a new venture, SharedPlay. That is a new starter from the industry veteran and former casino director at LeoVegas, Karolina Pelc. So, let’s get the new’s full scope and see what the collaboration will cost the King of mobile casino. But also what they get in the long run.LeoVegas spends on growth

The cost of forward-thinking

As the news hit the public, Leovegas has mentioned that they are ready to invest quite heavily, we like to add. In fact, part of the contract stipulates that initially, LeoVegas will invest £932,400 (€1.1 Million). Which will entitle the company to 25% of SharedPlay shares. Plus, give them the first refusal of increasing their own if the collaboration works in their favor. After all, the King of mobile gaming has never hidden its intention in the first place. To become the best-equipped operator when it comes to innovation. Basically, they tend to invest and support tech-oriented companies that show great entrepreneurial attributes. All in all, it’s about finding the gaps in the market, which is one of LeoVegas strong suits.

The sidestepping is only natural

It’s been in many people’s interest for a long time now to share their experience with such things as movies, music, and video games. As such, offering a platform where you can do similar sharing with your casino play simply makes sense. Plus, the community and support are already there. This is evident with ever-growing channels on a popular video-sharing platform. Commented on by LeoVegas CEO, Gustaf Hagman. “SharedPlay has a unique position with the opportunity to drive the next step in the social casino experience”. As the product rolls out, we will, of course, report.