It is being reported that LeoVegas, which is owned by MGM Resorts, is in the final stages of acquiring the igaming brand Push Gaming. This would be a very large new purchase for the group that would see LeoVegas expand its gaming portfolio.
What Does the New LeoVegas Acquisition of Push Gaming Entail?
There have been rumours circulating for a while that Push Gaming was looking to sell its business. There were a number of parties interested, including Scientific Games, but it looks like LeoVegas has won the deal and it is set to be finalised very soon.
The acquisition of Push Gaming via LeoVegas is set to reportedly cost around $150 million. This also comes after MGM acquired the Swedish brand LeoVegas in a deal worth $604 million in 2022.
Who is Push Gaming?
Push Gaming was formed back in 2010 and is based in Malta with offices also in London. It holds four licenses, including licenses from two of the world’s most reputable authorities, the UK Gambling Commission and the Malta Gaming Authority.
Push Gaming has over 135 employees, over 29 games in its library, it works with over 200 operators and it supports over 25 languages.
It also works with many of the most recognisable brands in the online gambling industry including Kindred, White Hat Gaming, Betsson, 888 Casino, 32 Red, Entain, Gamesys, MrQ, NetBet and SkillOnNet.
Some of the most popular titles from Push Gaming include Dinopolis, Tiki Tumble, Blaze of Ra, Fat Rabbit, Fat Santa, Fire Hopper and Wild Swarm.
The MGM Takeover of LeoVegas
Many were surprised to hear last year that LeoVegas was acquired by MGM Resorts International. MGM received regulatory approvals to move forward with the takeover and made the deal worth around $604 million. This was a 44.1% premium on the most recent closing price of LeoVegas. The deal was unanimously approved by the board and 96% of shareholders approved the deal.
Neither LeoVegas nor Push Gaming has confirmed this new deal yet but we are expecting to hear an announcement in the coming weeks.