LeoVegas enters esports fray with Pixel.bet acquisition
Swedish operator acquires Nordic-facing esports betting firm for €1.5m
LeoVegas investment subsidiary LeoVentures has acquired 51% of esports betting operator Pixel Holding Group Ltd.
The €1.5m investment includes the company’s pixel.bet domain which will mark the Swedish operator’s first foray into esports betting.
LeoVegas group CEO Gustaf Hagman said the purchase would enable the firm to “gain unique insight into a new and fast-growing segment”.
“”In Pixel.bet we have found a passionate team of entrepreneurs who come from the esports community,” said LeoVentures MD, Robin Ramm-Ericsson.
“With its strong technology and mobile-first gaming experience, Pixel.bet is a perfect match for the LeoVegas Mobile Gaming Group.”
The brand is currently available in the Nordics but Pixel.bet CEO Eirik Kristiansen said it would grow into further markets. The company is based in Malta with a small team that operates its own in-house platform.
Kristiansen also said the firm was preparing to launch officially in Sweden and offer users quick BankID registration and withdrawal features.
“We love esports. And we love betting. We want to create value for enthusiasts and add something truly extra to our community,” Kristiansen added.
LeoVegas head of investor relations, Philip Doftvik told EGR Intel the LeoVentures arm would now focus on growing its existing acquisitions, which include casino streaming network CasinoGrounds.
LeoVegas rolled out the BankID function across its Sweden facing products last month.
Mr Green parent company MRG has made a similar entry into the esports fray via a joint venture with Gamingzone Entertainment. Former CCO for the Swedish arm of mobile carrier 3, Niklas Grawé, has been appointed CEO of the JV.