LeoVegas has acquired 51 percent of Pixel Holding Group, owner of esports betting operator Pixel.bet, for $1.7m.
The deal, negotiated through the Swedish online casino company’s investment arm LeoVentures Ltd, is set to expand the Malta-headquartered provider into the Nordic market.
“Esports is an international and fast-growing area that engages millions of viewers and players every month, said LeoVegas CEO Gustaf Hagman.
“With this investment in Pixel.bet we as a Group will gain unique insight into a new and fast-growing segment.”
Completion of the acquisition is expected during the third quarter 2018, with the purchase made possible through a new share issue.
“We love esports,” said Eirik Kristiansen, CEO of Pixel.bet. “We love betting. We want to create value for enthusiasts and add something truly extra to our community.
“Pixel.bet is, for example, the first to offer log-in with mobile BankID and instant withdrawals.”
The purchase significantly expands LeoVegas’ investment in the esports industry, with the focus remaining on mobile-based gameplay.
“In Pixel.bet we have found a passionate team of entrepreneurs,” said managing director of LeoVentures, Robin Ramm-Ericson. “With its strong technology and mobile-first gaming experience, Pixel.bet is a perfect match for the LeoVegas Mobile Gaming Group.”