The latest tweets from @CasinoGrounds. CasinoGrounds is a community for casino enthusiasts, casino streamers and streaming fans to meet, share and interact with each other. All in a friendly and welcoming environment. CasinoGrounds operates as a casino streaming platform with an active and social casino forum. CasinoGrounds is a community for casino enthusiasts, casino streamers and streaming fans to meet, share and interact with each other. All in a friendly and welcoming environment. Lists Featuring This Company.
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The LeoVegas mobile gaming group has, through its wholly owned subsidiary LeoVentures Ltd, signed an agreement to acquire 51% of the shares in GameGrounds United AB (CasinoGrounds), which owns the streaming network casinogrounds.com. The purchase price is SEK 30 million, with a potential, maximum earn-out payment of SEK 15 million. Based on LeoVegas' assessment, the full earn-out payment will be made. CasinoGrounds is the leading live streaming site for casino games via YouTube and Twitch. The acquisition is expected to close on 1 January 2018.
Casinogrounds Awards
GameGrounds United AB operates the site www.casinogrounds.com, which in a short time has become a casino streaming platform with an active and social casino forum. The company cooperates both with operators and game makers in the industry. CasinoGrounds had revenue of SEK 4.1 million during the third quarter of 2017, with good profitability. The acquisition initially will not have any significant effect on LeoVegas' net profit.
Gustaf Hagman, LeoVegas' Group CEO, comments: 'In CasinoGrounds we see a new behaviour in which persons interested in casino are watching others play casino via YouTube and Twitch. CasinoGrounds has created a new niche through its live streaming and social platform, which are highly appreciated by players. The combination of proprietary content and the moving picture format create exciting opportunities going forward and is in line with LeoVegas' strategy to be an innovative and entrepreneur-driven company. LeoVegas has had successful cooperation with CasinoGrounds since 2016, and we know their team well. Our ambition is now to scale up existing operations to more markets.'
The acquisition of 51% of the shares in CasinoGrounds is being made through LeoVegas' wholly owned subsidiary LeoVentures Ltd. The purchase price is SEK 30 million, with a potential, maximum earn-out payment of SEK 15 million, which is based on revenue performance during the period January-June 2018. Based on LeoVegas' assessment, the full earn-out payment will be made. In addition, the agreement includes an option to purchase an additional 29% of the shares in 2021 or 2022 at 5 times operating profit (EBIT multiple).
The information in this release is such that LeoVegas AB (publ) is required to make public in accordance with the EU Market Abuse Regulation (596/2014). The information was submitted, by the agency of the contact persons below, for publication at 14:00 CET on 6 December 2017.
For further information, please contact:
Gustaf Hagman, Group CEO and co-founder: +46 70-880 55 22, gustaf.hagman@leovegas.com
Philip Doftvik, Head of Investor Relations: +46 73 512 07 20, philip.doftvik@leovegas.com
Visitors address: Sveavägen 59, Stockholm
Corporate identity number: 556830-4033
About the LeoVegas mobile gaming group
LeoVegas' passion is 'Leading the way into the mobile future'. The business is distinguished by award-winning innovation and strong growth. LeoVegas' technical development is conducted in Sweden, while operations are based in Malta. The Swedish parent company LeoVegas AB (publ) invests in companies that offer gaming via mobile devices and desktop computers along with companies that develop related technologies. LeoVegas has attracted major international acclaim and has won numerous awards, including 'Nordic Operator of the year', 'Mobile Marketing Campaign of the Year' and 'Innovation in Mobile and Tablet of the Year' at the international EGR Awards. LeoVegas bases its development on 'Mobile First' and is at the forefront of using state-of-the-art technology in the mobile gaming market. With a foundation in a great gaming experience, long-term customer relationships and establishment of a strong brand, the company has attracted a steadily growing customer base through innovative, effective ands Certified Adviser. For more about LeoVegas, visit www.leovegasgroup.com or www.leovegas.com.
Ground-breaking new titlehas been custom-built on behalf of leading streamer community
Relax Gaming, the igaming aggregator and supplier of unique content, has unveiled the industry’s first community-led slot creation, Iron Bank, custom-built on behalf of leading streamer community, CasinoGrounds.
Developed by Relax under the streamers’ direction, the high-volatility game transports players to Cuba where they team up with criminal mastermind, the Jaguar, to try their luck at striking gold in the Iron Bank and land a maximum win of 49998.9x their bet.
Three bonus symbols trigger free spins, which present players with a choice between different heist strategies, each bringing varying levels of volatility. When four, five or six bonus symbols land, a win of 20x, 200x or 2000x the stake is awarded respectively.
Players can then select either sticky mystery symbols, expanding respin wilds and progressive multiplier wilds depending on their risk appetite, while a buy feature can take them straight to the height of the heist.
With high win potential, a fast-paced gameplay experience and engaging narrative, Iron Bank is the product of CasinoGrounds’ creative game specifications and Relax’s production expertise.
Commenting on the ground-breaking new title, Simon Hammon, Relax Gaming CPO, said:“Working with CasinoGrounds on this project has been a fun and explorative experience that has proven the value in listening to the wants of the player community.
“The team’s enthusiasm was infectious and we’re proud to have brought their ideas to life. The result is a game that is one of the most feature-rich slots on the market with high levels of suspense and a captivating storyline that will no doubt appeal to a wide range of player demographics.”
Tobias Svensen, CasinoGrounds CEO, said: “As slot enthusiasts, designing our very own casino game is a real dream come true and we’re grateful to the Relax team for turning our vision into reality.
“They’ve been a pleasure to work with, listening intently to what we wanted and making sure our ideas translated into a game that would meet the expectations of our community. If you’re looking for a slot that is as action-packed as it is fast-moving, then Iron Bank is the game for you.”
Now celebrating its 10th year of serving the industry’s leading online casino operators, Relax Gaming provides its partners with an ever-growing portfolio of over 1,000 slot and casino games, featuring both proprietary titles and third-party content.