Sources who are familiar with the matter have revealed that the transaction is currently in the post–legal stage and has yet to be finalized. However, it is anticipated that an official confirmation regarding the acquisition will be announced either over the weekend or at the start of next week.
LeoVegas is expected to bolster its in–house Rhino technology platform, which oversees its B2B division, by integrating Push Gaming into its proprietary games portfolio. This move is anticipated to enhance the strength of LeoVegas‘ overall B2B operations.
In 2021, LeoVentures, the investment division of LeoVegas, acquired Blue Guru Games, an independent studio, in a similar move, indicating that this is not the first time that LeoVegas has adopted this strategy.
It has been reported that Push Gaming has been considering a sale of its business for a while now. Prior to MGM Resorts‘ recent bid, several gambling companies, including Scientific Games, had reportedly expressed interest in acquiring Push Gaming.
Push Gaming has its main offices located in London and Malta, and holds licenses from both the Malta Gaming Authority (MGA) and the UK Gambling Commission.
A source familiar with the negotiations has stated that the deal is being spearheaded by LeoVegas, rather than its US parent company, MGM Resorts.
MGM Resorts had acquired LeoVegas in a $607 million deal in the previous year, with the aim of broadening its online gambling operations beyond the US and venturing into new operational markets like Europe. The acquisition was also intended to supplement MGM Resorts‘ mostly physical business with digital expertise.