LeoVegas Group, a wholly owned Sweden-based subsidiary of MGM Resorts International, has signed a purchase agreement to secure the lion’s share of gaming development company Push Gaming Holding Ltd. and its subsidiaries, together with the founder’s future operational obligations.
First crucial investment:
The purchase is LeoVegas’ first crucial investment since it was officially acquired by MGM Resorts last year. With Push Gaming’s proprietary technologies, intellectual property, and development expertise, the company will strengthen its content production capabilities. However, that’s not all; as this acquisition backs up its plans to continue growing via expansion.
Commenting on the acquisition, Gary Fritz, President of MGM Resorts International Interactive, said: “The acquisition of Push Gaming by LeoVegas is consistent with our vision to expand MGM Resorts’ digital gaming presence internationally to grow our capabilities and products over the next several years.
“We are pleased to bring Push Gaming into our business as it brings a track record of developing games that are popular and have staying power in the industry as well as an exceptional management and operating team.”
In this regard, Gustaf Hagman, CEO of LeoVegas, added: “I’m thrilled to welcome Push Gaming to our extended family. The management team at Push Gaming has had a phenomenal journey, quickly growing the company from a small start-up to a player with outstanding proprietary content and a strong customer base. We look forward to contributing to their continued success moving forward.”
Nothing much will change for Push Gaming; as the company will stay under the same management team as part of LeoVegas. Furthermore, its 100+ employees will continue to create high-quality games, delivered through their own platform and remote gaming server.
However, the transaction is required to obtain regulatory and customary approvals and is projected to formally close in the third quarter of 2023.
Headquartered in Sweden, LeoVegas Group is a flagship global iGaming company with the main goal of taking responsibility for creating the world’s greatest iGaming experience. It offers online casino, live casino, and sports wagering via 10 brands in 9 jurisdictions.
Its growth is rapid, with more than 1,000 employees in Europe, involving headquarters in Sweden and an operations center in Malta.
Headquartered in London, UK, Push Gaming’s goal is to bring land-based suppliers online. It’s a flagship creator of highly entertaining digital games for wagering and gaming companies. In addition, it’s a proprietary content provider offering over 30 games, such as Razor Shark, Wild Swarm, Big Bamboo, and Jammin’ Jars to more than 200 operators worldwide.
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