LeoVegas removing Royal Panda from the UK market
Online gambling operator LeoVegas has announced it will be removing its Royal Panda brand from the UK market based on below-par performance.
The company will stop operating across the region on Friday 31 January, 2020.
An Important Part of LeoVegas Just Not in the UK
In 2017, Royal Panda was acquired by LeoVegas for €60m, with intent to strengthen their position in the UK.
However, the group now decided to withdraw the brand from the UK market, following the financial report about 2019’s third quarter.
Gustaf Hagman, CEO and co-founder of LeoVegas, at the time said that “The UK is profitable at group level but remains challenging, where Royal Panda in particular had poorer performance during the quarter”.
The firm will be following a three-stage plan for closing off Royal Panda:
- New players from the UK will no longer be able to sign up starting from 8 January at 10 am GMT.
- UK players will no longer be able to make a deposit or place a sports bet from 20 January at 9 am GMT onwards.
- And from 31 January at 9 am GMT UK players will not be able to access their account, place a casino bet and play at Royal Panda anymore.
A Message to the Customers
Royal Panda encouraged the customers to withdraw any remaining funds from accounts before the deadline.
The note on the official website said:
“We regret to inform you that Royal Panda will no longer be operating in the UK from 31 January 2020. We’ve had a great time entertaining you over the years and wish to thank you very much for choosing to play with us.”
Once again, we’d like to thank you for playing with Royal Panda, remind you that you should withdraw your cash as soon as possible, and wish you every success in the future”.