LeoVegas to sell BeyondPlay stake to  Bettor Capital

LeoVegas is being acquired by MGM Resorts.
LeoVegas is being acquired by MGM Resorts.

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.

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