LeoVegas, the well-known gaming group that operates several successful international online casinos, has announced that it has agreed a deal to acquire a majority stake in Push Gaming, an award-winning developer of casino games.
The deal will be done through LeoVentures, the investment arm of LeoVegas, and the financial details of the agreement were not disclosed. However, LeoVegas did explain that the purchase is part of its strategy to expand by investing in creation and distribution of gaming content.
Moreover, LeoVegas underlined that the acquisition of Push Gaming will allow the group to expand its activities into the production of slots content, along with strengthening its content production capabilities overall.
After the acquisition is completed, Push Gaming will continue to operate under its old brand and with its own management team, while all the current employees will be retained. The games created by Push Gaming will continue to be distributed through its own remote gaming server.
Winston Lee and James Marshall, the co-founders of Push Gaming, will remain with the brand and will hold the roles of Chief Operating Officer and Chief Executive Officer, respectively. The transaction is expected to complete in the third quarter of 2023 after the receival of the necessary legal approvals.