Authentic Gaming Becomes Part of Genting
Top casino name Genting Group has obtained LeoVegas’ live dealer arm Authentic Gaming.
Genting purchased the LeoVegas subsidiary for a thrifty €15m (£12.9m/$16.7m). The Malaysian casino behemoth has big plans following the important deal.
For the record, according to LeoVegas reports, Authentic generated revenue of approximately €1m for the three months to 30 June. That was a return of more than 100%
Laying the Foundation for Great Things
Authentic Gaming is famous for live streaming live casino content from brick-and-mortar venues all over Europe. For the past three years, it has operated as an independent division. The LeoVentures program made this possible.
Right now, Authentic is one of the three LeoVentures holdings, besides Pixel.bet and casino streaming portal CasinoGrounds.
Jonas Delin, Authentic Gaming founder and CEO said that this was a crucial step for his company. They at Authentic are very happy to work with Genting, which has over 50 years of experience in the industry.
The two firms share the vision to “weave online and land-based casino”. It is without doubt that the deal will bring many fruitful combined ventures.
Previously, GentingBet launched Live Baccarat, further expanding its portfolio. As for LeoVegas, it has recently acquired a Swedish operating license.
Good Platform to Grow Business Rapidly
Jeremy Taylor, managing director of Genting Online, takes pride in the firm’s platform.
Taylor said that the combined efforts with Authentic will result in an amazing outcome. Genting’s platform broadcasts gaming content 24/7 through all devices. He added that right now they are “in a good position” to realize mutual visions.
Gustaf Hagman, LeoVegas Group chief executive, portrayed the agreement as a “milestone” for the operator. Furthermore, Hagman also said that Genting was the perfect buyer.
“The deal shows innovative strength in the Group and our ability to develop and build sustainable companies,” LeoVegas CEO commented.