LeoVegas to sell BeyondPlay stake to  Bettor Capital

LeoVegas was an early investor in the former SharedPlay.

Sweden.- LeoVegas is to sell its 25 per cent stake in the B2B igaming start-up BeyondPlay. It’s agreed to sell its stake to Bettor Capital for €1.9m. The Swedish igaming operator was an early-stage investor in the business, which was founded in 2021 as SharedPlay.

LeoVegas’ venture capital subsidiary LeoVentures described the venture as successful, generating a 73 per cent return on investment. LeoVegas is itself in the process of being acquired by MGM Resorts.

CEO Gustaf Hagman said: “It has been truly incredible to watch BeyondPlay grow from an idea to a leader in its industry niche over the last two years. Karolina Pelc and her team have done an impressive job, and I know they are just getting started.”

Based in New Jersey, Bettor Capital is a venture capital firm focused specifically on online gaming. It’s led by managing partner David VanEgmond.

BeyondPlay is still led by founder Karolina Pelc and develops specialist multiplayer components/tools for igaming operators and developers.

Pelc said: “LeoVentures has been a fantastic acceleration partner for BeyondPlay, and we are grateful for the support received from the early days to date. We remain committed to a successful commercial partnership with LeoVegas Group and are excited for the next chapter of our journey. 

“Looking to the future, securing the backing of such a prominent VC firm as Bettor Capital, among other hugely significant strategic industry investors, as part of a larger fundraising effort, is a powerful statement on our company’s growth trajectory. I am looking forward to announcing more details very soon.”

Last year, LeoVegas made a return to the Dutch online gambling market. It was also fined £1.2m by the British Gambling Commission for social responsibility and anti-money laundering failings.