LeoVegas Group Acquires Major Stake in Push Gaming for €150 Million

LeoVegas Group, a subsidiary of the global entertainment company MGM Resorts International, has acquired a majority stake in the game developer Push Gaming through its investment arm, LeoVentures. Valued at EUR 150 million, the group seeks to enhance exposure to the fast-growing slots content category as well as acquire proprietary technologies, intellectual property, and development expertise to strengthen content production capabilities and support plans for continued growth. Push Gaming will continue to operate as an independent entity within the LeoVegas Group, maintaining its own management team with the COO and CEO.

“I’m thrilled to welcome Push Gaming to our extended family! The management team has been on a phenomenal journey, growing the company rapidly from a small start-up to a leader in its field” LeoVegas Group CEO Gustaf Hagman said. “Push Gaming has an outstanding track record, proprietary tech, and fantastic intellectual property that will ensure we give customers the very best, cutting-edge entertainment.”

James Marshall, Push Gaming CEO and Co-Founder, added “I’m incredibly proud of what we have achieved to date and this deal is a testament to the work that our team have put in, taking us from start-up to a leading supplier with some of the most recognised games in our industry. We have ambitious plans and we can now supercharge our growth with the backing of LeoVegas and MGM. We look forward to scaling-up our development capabilities, entering new markets and taking our products to the next level.”

The LeoVegas Group deal is a testament to a continuous race among the industry’s leading operators. Earlier in July 2021, Kindred Group acquired Relax Gaming for more than EUR 320 million in total investments made since 2013. A few weeks earlier, Push Gaming announced that it has entered the Dutch market with the help of Kindred Group, which also sees an exclusive launch of the new slot game, Crystal Catcher, for a three-month period.

Crystal Catcher is a 7x7 cluster pay slot that offers a maximum win potential of 10,000x bet. It builds on the studio’s popular Fire Hopper slot, while reimagining the look and feel of the game world, balanced with the lower volatility gameplay. The game features the studio’s distinctive instant prize symbols of up to 500x and a Free Games feature that carries the Crystal Catcher feature from the base game that can create copies of the moving Wild Beetle symbol with a growing multiplier. The RTP is capped at 96.40% with the Ante bet (96.56% with Super Buy Feature), with four additional RTP versions released to the general network on 20 June.

Other upcoming games from Push Gaming include 10 Swords (31.05.2023), the highly anticipated sequel Razor Returns (4.07.2023), Rat King (27.07.2023) and Goat Getter (24.08.2023). Their latest release, Dino P.D., which is inspired by their Dinopolis slot, is available at Push Gaming casinos now. At the close of the announced deal, players can expect to see the developer’s content going live in more jurisdictions in the coming months. The transaction is subject to customary approvals and is expected to take place in the Q3 of 2023.