LeoVegas makes a first investment since its acquisition by American casino giant MGM Resorts as it buys slot developer Push Gaming.
The asking price for the developer has not been officially announced, but reports suggest it could be worth no less than €150 million (£132 million). For that price, LeoVegas gets all proprietary technologies, intellectual property and, of course, development expertise.
“I’m thrilled to welcome Push Gaming to our extended family! The management team has been on a phenomenal journey, growing the company rapidly from a small start-up to a leader in its field” LeoVegas Group CEO Gustaf Hagman remarks. “Push Gaming has an outstanding track record, proprietary tech, and fantastic intellectual property that will ensure we give customers the very best, cutting-edge entertainment.”
Who is Push Gaming?
Push Gaming has offices in Malta and London, and holds licenses from both the Malta Gaming Authority (MGA) and UK Gambling Commission (UKGC). It’s best known for its portfolio of over 30 slots, which includes popular titles such as Razor Shark, Wild Swarm and Big Bamboo. It also has a B2B division running Rhino, the company’s in-house technology platform.
It is believed that Push Gaming was looking for a buyer for a while, with several gaming companies (including Scientific Games) considering acquiring the company.
Following the deal, Push Gaming will remain an independent entity with its own management team, while the 100+ employees should continue working on games distributed by the company’s own platform and remote gaming server (RGS). As such, co-founders Winston Lee and James Marshall will respectively remain in place as COO and CEO.
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