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LeoVegas Group to acquire game developer Push Gaming
LeoVegas Group has entered into agreement to acquire a majority stake in game developer Push Gaming via its investment arm LeoVentures. With an award-winning game catalogue, Push Gaming is one of the industry’s leading and most innovative game developers, with popular titles such as Razor Shark, Wild Swarm, Big Bamboo, and Jammin’ Jars available on major operators globally. The acquisition is in line with LeoVegas Group’s strategy to expand through investing in game content creation and distribution.
LeoVegas Group has entered into an agreement to acquire the majority of shares in game developer Push Gaming, one of the industry’s leading and most innovative creators of digital games. Push Gaming is a leading proprietary content provider that offers 30 high quality games, such as Razor Shark, Wild Swarm, Big Bamboo, and Jammin’ Jars, to over 200 operators globally.
The acquisition will be made via LeoVegas Group’s investment arm LeoVentures, and is in line with the Group’s expansion strategy. The acquisition of Push Gaming leapfrogs LeoVegas Group’s exposure into the fast-growing slots content category. Furthermore, Push Gaming’s proprietary technologies, intellectual property and development expertise will bolster the Group’s content production capabilities, and support plans for continued growth.
As part of LeoVegas Group, Push Gaming will remain an independent entity with its own management team, and its 100+ employees will continue to develop high-quality games, distributed via their own platform and remote gaming server (RGS). Co-founders Winston Lee and James Marshall will remain as COO and CEO respectively.
“I’m thrilled to welcome Push Gaming to our extended family! The management team has been on a phenomenal journey, growing the company rapidly from a small start-up to a leader in its field” LeoVegas Group CEO Gustaf Hagman said. “Push Gaming has an outstanding track record, proprietary tech, and fantastic intellectual property that will ensure we give customers the very best, cutting-edge entertainment.”
James Marshall, Push Gaming CEO and Co-Founder, added “I’m incredibly proud of what we have achieved to date and this deal is a testament to the work that our team have put in, taking us from start-up to a leading supplier with some of the most recognised games in our industry. We have ambitious plans and we can now supercharge our growth with the backing of LeoVegas and MGM. We look forward to scaling-up our development capabilities, entering new markets and taking our products to the next level.”
The transaction is subject to customary approvals and is expected to be completed in the third quarter of 2023.
