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LeoVegas buys UK iGaming and casino operators for £65m

LeoVegas has agreed to acquire the assets of Intellectual Property & Software Limited (IPS) and other related assets from two further companies, including top brands such as 21.co.uk, Slotboss, Bet UK and UK Casino.The company has been on an acquisition spree of late, following its deal to buy CasinoGrounds last month.During the fourth quarter of 2017, IPS generated revenues of £11.7m and, together with the companies whose assets are also being acquired as part of the transaction, an adjusted EBITDA of £3.8m.The acquisition will be financed by cash and from existing debt facilities for a total consideration of £65m, LeoVegas said.Gustaf Hagman, LeoVegas’ Group CEO, said: “The UK market is a very large and mature market and that is the reason to work with several brands that attract various types of customers.“In IPS we see several attractive attributes, and they have tremendous momentum in their growth and profitability.”

This article originally appeared on igaimingtimes.com