LeoVentures, the investment arm of the LeoVegas Group, has paid €1.5m for 51 per cent of shares in Pixel Holding Group, which runs esports betting operator Pixel.bet.
The investment has been made through a new issue. Pixel.bet's vision is to create the greatest gaming experience in esports betting.
Gustaf Hagman, LeoVegas' Group CEO, said: "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.”
Eirik Kristiansen, CEO of Pixel.bet, said: "We love esports. And we love betting. We want to create value for enthusiasts and add something truly extra to our community. 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."
Pixel Holding Group runs the esports betting operator Pixel.bet and in its next phase is gearing up for a broader launch of its business. Sweden and the Nordics are initial focus markets, with potential to grow further internationally.
Completion of the acquisition is expected during Q3 2018. The investment in Pixel Holding Group will initially not have any significant effect on the LeoVegas Group's earnings or financial position.
