LeoVegas buys CasinoGrounds for $3.6m

LeoVegas has completed its acquisition of 51 percent of shares in the streaming network CasinoGrounds.

The company made the announcement of its intention early last month, and completed the deal on 1 Jan.

The final deal total came to SEK30m ($3.6m), with a potential maximum earn-out payment of SEK15m, which is based on revenue performance during the period January-June 2018

In addition, the agreement includes an option to purchase an additional 29 percent of the shares in 2021 or 2022 at five times operating profit.

This article originally appeared on igamingtimes.com