Relax Gaming, igaming aggregator and supplier of unique content, has been selected by the industry’s largest collective streamer site, CasinoGrounds, to develop a unique, player-led slot game.
Retailbakersofamerica.org Retail Bakers of America - Education, Networking, Continuing Education. Retailbakersofamerica.org - Retailbakersofamerica outages, problems and current status. Earlier this week, Simon Hammon, chief product officer at Relax Gaming and Tobias Svensen, CEO of CasinoGrounds, spoke to CasinoBeats to discuss the development process between the two companies and whether community-driven content is igaming’s ‘next big trend’. “Relax and CasinoGrounds. Originally, CasinoGrounds was a small forum for gambling enthusiasts, but it quickly merged into a large and important player in the casino streaming sphere. In late 2017, popular online casino LeoVegas purchased 51% stake of GameGrounds United AB, the legal entity owning the CasinoGrounds.
The supplier will custom-build the title based on CasinoGrounds’ specifications with the respective teams working closely together to bring the vision to life.
Set to launch in Q4 this year, the game will include multiple features guided by the streamer’s extensive experience playing a wide range of titles and vast industry knowledge gathered through its large community of slot enthusiasts.
CasinoGrounds, which was established in 2016 and backed by LeoVentures the following year, is one of the largest marketing affiliate companies in the online casino sector, which is reflected in the millions of views on their Youtube videos month on month.
The collaboration will build on Relax Gaming’s collection of in-house developed content, which has grown consistently with top-performing titles such as Temple Tumble, Money Train, Snake Arena and Hellcatraz since the company opened its first studio four years ago.
The latest addition to its portfolio, Money Train 2, has already smashed records since its launch on September 2nd and featured in a CasinoGrounds tournament where three streamers, Letsgiveitaspin, Slotspinne and Daskelele battled to claim the highest payout and win a €7,500 prize.
Simon Hammon, Relax Gaming CPO, said: “CasinoGrounds is a pillar of the affiliate sector and we are proud to have been chosen to transform the team’s great ideas into something really special.
“Being able to take the knowledge they have at their disposal and work with them has been a pleasure. We’re also humbled that this collaboration came about as a result of the reputation our talented studio teams have secured in a relatively short period, and our willingness to go above and beyond to deliver on promises.”
Tobias Svensen, CEO at CasinoGrounds said: Relax is and has been a great partner in this project and we choose to work with them because of the level of experience demonstrated by their team, but also because of the respect that the company has for our community and willingness to listen along with the understanding that comes with that.
This is a game that is made by players for players and we are really looking forward to seeing the game live and played by our fans and community.”
This year Relax Gaming is celebrating its 10th anniversary, marking a decade of quality service to the industry’s leading online casinos. The company supplies its partners with a growing library of over 1000 proprietary and third-party studio games through a quick and simple integration.
The LeoVegas mobile gaming group has, through its wholly owned subsidiary LeoVentures Ltd, signed an agreement to acquire 51% of the shares in GameGrounds United AB (CasinoGrounds), which owns the streaming network casinogrounds.com. The purchase price is SEK 30 million, with a potential, maximum earn-out payment of SEK 15 million. Based on LeoVegas' assessment, the full earn-out payment will be made. CasinoGrounds is the leading live streaming site for casino games via YouTube and Twitch. The acquisition is expected to close on 1 January 2018.
GameGrounds United AB operates the site www.casinogrounds.com, which in a short time has become a casino streaming platform with an active and social casino forum. The company cooperates both with operators and game makers in the industry. CasinoGrounds had revenue of SEK 4.1 million during the third quarter of 2017, with good profitability. The acquisition initially will not have any significant effect on LeoVegas' net profit.
Gustaf Hagman, LeoVegas' Group CEO, comments: 'In CasinoGrounds we see a new behaviour in which persons interested in casino are watching others play casino via YouTube and Twitch. CasinoGrounds has created a new niche through its live streaming and social platform, which are highly appreciated by players. The combination of proprietary content and the moving picture format create exciting opportunities going forward and is in line with LeoVegas' strategy to be an innovative and entrepreneur-driven company. LeoVegas has had successful cooperation with CasinoGrounds since 2016, and we know their team well. Our ambition is now to scale up existing operations to more markets.'
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The acquisition of 51% of the shares in CasinoGrounds is being made through LeoVegas' wholly owned subsidiary LeoVentures Ltd. The purchase price is SEK 30 million, with a potential, maximum earn-out payment of SEK 15 million, which is based on revenue performance during the period January-June 2018. Based on LeoVegas' assessment, the full earn-out payment will be made. In addition, the agreement includes an option to purchase an additional 29% of the shares in 2021 or 2022 at 5 times operating profit (EBIT multiple).
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The information in this release is such that LeoVegas AB (publ) is required to make public in accordance with the EU Market Abuse Regulation (596/2014). The information was submitted, by the agency of the contact persons below, for publication at 14:00 CET on 6 December 2017.
For further information, please contact:
Gustaf Hagman, Group CEO and co-founder: +46 70-880 55 22, gustaf.hagman@leovegas.com
Philip Doftvik, Head of Investor Relations: +46 73 512 07 20, philip.doftvik@leovegas.com
Visitors address: Sveavägen 59, Stockholm
Corporate identity number: 556830-4033
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About the LeoVegas mobile gaming group
LeoVegas' passion is 'Leading the way into the mobile future'. The business is distinguished by award-winning innovation and strong growth. LeoVegas' technical development is conducted in Sweden, while operations are based in Malta. The Swedish parent company LeoVegas AB (publ) invests in companies that offer gaming via mobile devices and desktop computers along with companies that develop related technologies. LeoVegas has attracted major international acclaim and has won numerous awards, including 'Nordic Operator of the year', 'Mobile Marketing Campaign of the Year' and 'Innovation in Mobile and Tablet of the Year' at the international EGR Awards. LeoVegas bases its development on 'Mobile First' and is at the forefront of using state-of-the-art technology in the mobile gaming market. With a foundation in a great gaming experience, long-term customer relationships and establishment of a strong brand, the company has attracted a steadily growing customer base through innovative, effective ands Certified Adviser. For more about LeoVegas, visit www.leovegasgroup.com or www.leovegas.com.