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LeoVegas AB has agreed to sell its 25% stake in igaming B2B venture BeyondPlay to Bettor Capital for €1.9m.
Currently finalising its sale to MGM Resorts, Leo Vegas had been an early-stage investor of BeyondPlay (formerly SharedPlay) since the start-up was founded in 2021.
Led by founder Karolina Pelc, BeyondPlay is a specialist developer of multiplayer components/tools for igaming operators and games developers, helping deliver new experiences for customers.
The investment had been undertaken by LeoVegas venture capital subsidiary LeoVentures who branded BeyondPlay as a successful venture “generating a 73% return on investment”.
LeoVegas CEO, Gustaf Hagman, said “It has been truly incredible to watch BeyondPlay grow from an idea to a leader in its industry niche over the last two years. Karolina Pelc and her team have done an impressive job, and I know they are just getting started”.
Acquiring LeoVegas 25% stake, New Jersey, Bettor Capital is an early-stage venture capital firm focused on the real-money, online gaming industry, led by Managing Partner David VanEgmond.
“LeoVentures has been a fantastic acceleration partner for BeyondPlay, and we are grateful for the support received from the early days to date,“ Karolina Pelc explained. “We remain committed to a successful commercial partnership with LeoVegas Group and are excited for the next chapter of our journey”
“Looking to the future, securing the backing of such a prominent VC firm as Bettor Capital, among other hugely significant strategic industry investors, as part of a larger fundraising effort, is a powerful statement on our company’s growth trajectory. I am looking forward to announcing more details very soon.”
