LeoVegas continues its expansion in more European markets and just yesterday the Stockholm Nasdaq-listed company announced that has completed the first corporate acquisition, since the terms for the purchase of the Italian online casino operator Winga.it were agreed. LeoVegas at the investors’ update told that the governance has reached an agreement for the purchase of Winga.it for an amount of 6.1 million euros. It must be noted that Winga.it generated €8 million revenue for its full-year 2016 performance.
Gustaf Hagman, who is LeoVegas’ Group CEO commented on this agreement: «This is yet another milestone in LeoVegas’ development. The acquisition of Winga.it will enable rapid expansion in Italy, as we are acquiring a company with local knowledge and an established position. LeoVegas’ expansion strategy is to grow in markets that are either regulated or in the process of being regulated. Our focus on mobile gaming and our proprietary, flexible technology platform create the conditions to take a leading position in Italy’s mobile gaming market through this exciting acquisition.».