LeoVegas to Sell Authentic Gaming Subsidiary to Genting Online

LeoVegas has entered into an agreement to sell their Authentic Gaming (AG) subsidiary to Genting Online.

AG, under the ownership of the operator, has developed into a profitable division with a renowned position in the live casino market. It is one of three holdings of LeoVenture, the investment company for innovative gaming-related business from the LeoVegas Group.

Genting is one of the largest groups in the land-based casino industry, with over 50,000 employees and their digital business is growing rapidly.

Officials from Authentic say that they are thankful to LeoVegas for their since the start and are looking forward to working with Genting.

Next Step in Live Casino

“We have now laid the foundation for Authentic Gaming to take its next big step in live casino. I am very happy that Genting, with more than 50 years of experience in gaming and entertainment, shares our vision to weave online and land-based casino and has chosen to invest in our product and team. At the same time, I want to thank LeoVegas for their tremendous since the start and for the platform that LeoVentures has created for us to take us to where we are today,” said Jonas Delin, CEO and founder of AG.

Representatives from Genting Online say that their vision is to offer their customers an amazing gaming experience. They are convinced that with Authentic Gaming, they will be able to position themselves to realize their vision.

Jeremy Taylor, Managing Director of Genting Online, comments: “Our global presence in land-based casino gives us a platform to grow online at a fast pace. Our vision is to offer our customers an amazing gaming experience from all of our casinos around the world, 24 hours a day through any device. With Authentic Gaming’s advanced technology and innovative product, we are convinced that together we have a good position to realize that vision.”

Milestone Move

Management of LeoVegas say that the sale is a milestone for the company. They are sure that Genting will take AG to the next level. They say that this deal represents their innovative strength and their ability to develop and build sustainable companies.

Gustaf Hagman, Group CEO, LeoVegas Mobile Gaming Group said: “This is a milestone for LeoVegas. The time is now right to sell the enterprise to the industry giant Genting, which is the perfect buyer to take Authentic Gaming to the next level. The deal shows our innovative strength in the Group and our ability to develop and build sustainable companies. We have thereby created shareholder value with a more than a 100% return on our investment in Authentic Gaming.”

Source:

“LeoVegas to sell subsidiary Authentic Gaming”, George Miller, europeangaming.eu, October 30, 2019.