LeoVegas Group, through its investment company LeoVentures Ltd, has acquired a majority share of 51% in Pixel Holding Group Ltd, the company that runs esports betting operator Pixel.bet.
Pixel.bet initially focused on Sweden and the Nordics, but is set to broaden its horizons. The investment was €1.5 million (£1.34 million), and is expected to be completed during the third quarter of this year.
Robin Ramm-Ericson, Co-founder of LeoVegas Mobile Gaming Group commented on the investment: “In Pixel.bet we have found a passionate team of entrepreneurs who come from the esports community. With its strong technology and mobile-first gaming experience, Pixel.bet is a perfect match for the LeoVegas Mobile Gaming Group. Together we will drive development for the absolute premier experience in esports betting.”
Pixel.bet was launched into beta at the beginning of the year, offering odds for League of Legends, Counter-Strike: Global Offensive, Dota 2, Call of Duty, StarCraft II, Overwatch, Heroes of the Storm, Street Fighter, and Rocket League.
Eirik Kristiansen, CEO of Pixel.bet also discussed the acquisition: “We love esports. And we love betting. We want to create value for enthusiasts and add something truly extra to our community. Pixel.bet is, for example, the first to offer log-in with mobile BankID and instant withdrawals. In LeoVentures we have now found a unique partner and investor that understands and shares our passion.”
Esports Insider says: Esports betting operators aren’t so rare these days, and it’s hard to choose a definitive site that goes above and beyond its competitors. Perhaps with this investment, and the expertise of LeoVegas, Pixel.bet can separate itself from the pack in the future.