The LeoVegas Group has purchased a 51 per cent stake in Pixel Holding Group Ltd, the organisation which runs the esports betting operator Pixel.bet.
Making the acquisition through its LeoVentures Ltd wholly owned subsidiary, the investment amounts to a fee of €1.5m, with the firm stressing it’s aligned its vision with Pixel’s “to create the greatest gaming experience in betting on esports www.pixel.bet”.
Gustaf Hagman, LeoVegas Group CEO and Co-Founder of LeoVegas Mobile Gaming Group, commented: “Esports is an international and fast-growing area that engages millions of viewers and players every month. With this investment in Pixel.bet we as a group will gain unique insight into a new and fast-growing segment.”
Pixel Holding Group has stated that via its Pixel.bet entity it is to embark upon its “next phase,” which it being done by “gearing up for a broader launch of its business”.
An initial focus is set on being the Nordics, with Sweden a particular focus, “with clear potential to grow internationally, as they attempt to position Pixel.bet as the leading global brand in esports betting.
“We love esports. And we love betting. We want to create value for enthusiasts and add something truly extra to our community,” stated Eirik Kristiansen, CEO of Pixel.bet. “Pixel.bet is, for example, the first to offer log-in with mobile BankID and instant withdrawals. In LeoVentures we have now found a unique partner and investor that understands and shares our passion.”
Completion of the acquisition it expected to be completed during the third quarter of this year, with the investment in Pixel Holding Group not initially having any significant effect on the LeoVegas Group’s earnings or financial position.
Robin Ramm-Ericson, Managing Director of LeoVentures and co-founder of LeoVegas Mobile Gaming Group, added: “In Pixel.bet we have found a passionate team of entrepreneurs who come from the esports community.
“With its strong technology and mobile-first gaming experience, Pixel.bet is a perfect match for the LeoVegas Mobile Gaming Group. Together we will drive development for the absolute premier experience in esports betting.”