LeoVegas acquires 25% stake in startup SharedPlay

LeoVegas paid €1.1m (£940,000/$1.3m) to purchase the stake, with the option to increase its ownership in the future.

Founded by industry executive Karolina Pelc, SharedPlay is primarily focused on transforming solitary game sessions into multiplayer experiences. Users can join a social community and share their experiences digitally with other players.

 “We see a new behaviour in the gaming market as well as in many other digital consumer segments – it’s about sharing your fun and excitement with your friends, but also with others who have the same interest,” LeoVegas group chief executive Gustaf Hagman said.

“The team we are investing in is world-class, and SharedPlay has a unique position with the opportunity to drive the next step in the social casino experience.”

SharedPlay founder Pelc added: “SharedPlay was established to capitalise on the opportunities that exist in the current trends in our rapidly growing industry. I have closely followed the development of social platforms, how we consume moving pictures, and how it has become part of the gaming industry.

“LeoVegas is a dream partner, as they are passionate about the gaming experience and innovation in product development, and have shown through their other investments that they are proficient at driving growth and creating value.”

The new investment comes after LeoVegas this month also acquired the Expekt sports betting brand from Betclic Group for €5.0m.

In addition, LeoVegas this week made its shares tradable in US dollars via the US’s OTCQX market. Shares are now available as F shares under the ‘LEOVF’ ticker symbol.