UK – Genting snaps up Authentic Gaming for €15m from LeoVegasBy Phil - 30 October 2019
Genting has bought live casino specialist Authentic Gaming for €15m from LeoVegas.
The deal will see Genting utilise a range of Authentic’s innovative in-club streaming technologies and expertise across its land-based and digital estate, both in the UK and internationally.
Authentic will continue to operate independently, with Genting Group looking to support the company’s continual innovation and expansion. Genting will also continue to work with its existing and other new partners as it develops and diversifies its world class live casino product offering.
Jeremy Taylor, Managing Director of Genting Online, said: “Our global estate of land-based casinos provides us with a platform to grow both businesses Our vision for the future is that customers will be able to play at any of our casinos in the world, such as Las Vegas, Bahamas, or Singapore to name but a few, in an immersive experience, from any device, from any website, 24/7.
“With their cutting-edge technology and innovative product capabilities we believe that Authentic are well placed to help us realise that vision. They are a relatively young business who are bringing fresh thinking to the market place, so now is the perfect time to start working with them to fuel the future success of both businesses.”
Jonas Delin, CEO and Founder of Authentic added: “We have now laid the foundation for Authentic Gaming to take its next big step in live casino. With more than 50 years’ heritage in the gaming and leisure industry across the globe, Genting have unrivalled experience when it comes to providing players with a superior service and gaming experience. Authentic was founded to drive the convergence of digital and land based casino by building and operating best in class live casino solutions for online players. Becoming part of the Genting Group places us in an incredible position to expand our product into more casinos, expand our product portfolio to include more games for the benefit of our entire B2B customer base in Europe and beyond.”
Gustaf Hagman, Group CEO, LeoVegas Mobile Gaming Group, added: “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 per cent return on our investment in Authentic Gaming.”