Jump to content
Sign in to follow this  
ellohello

Leovegas invests in Casinogrounds?

Recommended Posts

Hi, I've been lurking for a while amongst streamers and have recently found this and wondered if it was true?

https://globenewswire.com/news-release/2017/12/06/1233981/0/en/LeoVegas-invests-in-the-leading-streaming-network-CasinoGrounds.html

https://www.reuters.com/article/brief-leovegas-invests-in-the-leading-st/brief-leovegas-invests-in-the-leading-streaming-network-casinogrounds-idUSFWN1O60PR

 

Quote

he acquisition of 51% of the shares in CasinoGrounds is being made through LeoVegas' wholly owned subsidiary LeoVentures Ltd. The purchase price is SEK 30 million, with a potential, maximum earn-out payment of SEK 15 million, which is based on revenue performance during the period January-June 2018. Based on LeoVegas' assessment, the full earn-out payment will be made. In addition, the agreement includes an option to purchase an additional 29% of the shares in 2021 or 2022 at 5 times operating profit (EBIT multiple).

 

If so, quite a big development!

 

Cheers

Share this post


Link to post
Share on other sites

Unless its "fake news" it seems real. Not a shock really, without taking any time to look into it earlier. The streamers always says they play with their own money, yeah sure, as long as the money comes from shares from the same companies they deposit money to (i do not saying its like this, i'd just assume it).

Anyway, i havent put much thoughts into this before, untill recently when the new casino highroller came online. Already many of the well known streamers in there plays on highroller all of a sudden, and the review done by casinogrounds giving the site almost maximum score, but we all know that is full of crap. The site has/had flaws, you cant even check your wagering, you cant deposit trough the most known operators, and there is only ONE bonus given (no reload bonuses yet for me at least), still they give it 5/5. Sorry guys at casinogrounds, but that review is even more rigged than the slots :)

That beeing said, i love the community here, but a little setback knowing it comes from the casino and not the players. It doesnt feel real. At least they should be more open about it. However, beeing a player at this community gives us far more benefits that not, remember that :)

Share this post


Link to post
Share on other sites

It's interesting, not a bad thing and I definitely think the streamers are quite neutral in their casino choices however just interesting to see if this would change anything?

Also, do we know who started High Roller it did come out of no where seemingly!

 

Share this post


Link to post
Share on other sites

Hey guys,

Yes it's true that CG has taken on a partner in LeoVentures which is the investment arm of LeoVegas. That we've done this has many reasons - the main one being that we want CG and casino streaming to be here in the long run, and to secure that one needs both resources and manpower - which this partner possesses. They also have a completely similar view to ours in how they think casino streaming should be done, which was a major consideration when we started talking to potential partners early in the year.

With regards to what pausefisk eluded to - all CG streamers always have and always will be playing with their own funds. The streams/streamers and CG are two separate entities and this partnership does not affect the former directly. In the long run it's our goal to have CG and its platform to support streamers more than it is today, grow the community and bring more value to its members - something we felt we possibly can't do on our own (or at the very least take a long long time) - and that is the main motivation to why this partnership was formed.

As for Highroller - from our perspective it is a very good casino that has several innovations, both already introduced and some coming in the near future, that both streamers and players enjoy. It is highly ranked on CG not necessarily because it's the best casino today, but rather what we are convinced it will become. CG and several streamers have got the opportunity to play this brand from the start, which means that a great deal of our community members will be included in any and all promotions, stunts and events that will be run on HR next year - on top of the exclusive coin offer given on sign up. This isn't possible on an already established brand with a lot of existing players.

I hope this clarifies a bit :)

Best,
Andreas / DrunkenMaster

Share this post


Link to post
Share on other sites
On 12/21/2017 at 3:21 PM, Andreas said:

It is highly ranked on CG not necessarily because it's the best casino today, but rather what we are convinced it will become.

The review should clearly state this then.

  • Like 1

Share this post


Link to post
Share on other sites

So 51% stake means, in real terms, Leo Vegas OWNS CasinoGrounds.  Pretty sure this is not a good thing, as naturally the content on this site should now be reasonably questioned as being biased in the casino's favour (reviews, promoted/trusted casino's etc) rather than being by players for players (which is what I thought this site was and is why i joined). Quite sad really, but hey ho.

 

Andreas, is Highroller owned, part owned by LeoVegas per chance? Or do they have a stake in it?  

Edited by TechnoJoe

Share this post


Link to post
Share on other sites

Hey guys,

Yes, Leo's investment company owns a majority stake in CG but that doesn't affect us not running it independently, our values, the partners we choose or the content we produce - in fact, that is explicitly stated between us, both now and when the partnership discussions began. 

@TechnoJoe quite the contrary. Highroller is owned by GiG (Rizk, Guts, Thrills etc) who are a direct competitor to LeoVegas.

  • Thanks 1

Share this post


Link to post
Share on other sites
On 12/30/2017 at 10:17 PM, Andreas said:

Hey guys,

Yes, Leo's investment company owns a majority stake in CG but that doesn't affect us not running it independently, our values, the partners we choose or the content we produce - in fact, that is explicitly stated between us, both now and when the partnership discussions began. 

@TechnoJoe quite the contrary. Highroller is owned by GiG (Rizk, Guts, Thrills etc) who are a direct competitor to LeoVegas.

Thanks for the reply, i sit corrected about LV and Highroller etc

Edited by TechnoJoe

Share this post


Link to post
Share on other sites

@AndreasGreat to have someone from CG discuss in more detail about the LV JV. I sincerely belive CG have great intentions to continue to bolster and innovate the casino streaming community and would not have entered into a deal which jeopardised this.

That said there is always some conflict of interest and running a completely non bias community site is hard to do for CG due ton the nature of your business.

For example, you may believe HR is an excellent casino to play on but you would not have known this before signing an agreement to be an exclusive streaming partner on their site. Every business looks towards there bottom line. High Roller offered CG a 1 month exclusive deal ( a snippet shown below from an email GIG affiliates sent out ) which forbid any other streamers from playing on HR. This is extremely rare and up to now unheard off from my perspective. It monopolises the brand for CS streamers and takes away revenue opportunities for other streamers since the initial influx of new players on a new site can have a terrific and long lasting value for the affiliate. My opinion is that this is not actually supporting streamers at all. That said, i dont blame CG one bit for closing that deal, im just alluding to areas of double standards.

  • Due to an exclusivity deal with a business partner, promoting Highroller via Twitch and Youtube platforms will not be allowed until December 18th, at which time all our streaming partners can start promoting the brand.

One thing we ( Fruity Slots ) have always said from our 1st stream and our 1st blog post is that streaming casino is a business. If you stream as a hobby it will invariably cost you money. I dont think CG make this clear enough or made it clear enough when they started. They are very socially aware and responsible in how they promote casino and talk with thier viewers but thats not the same thing is being completely honest with them.

 

  • Like 3

Share this post


Link to post
Share on other sites

Hey guys, 

When are you announcing this on the news/forum? 

I also wonder how CG can evaluate the company with such a big pricetag, how much money do you make of affiliates? 

:)

Share this post


Link to post
Share on other sites

Hi! 

I just want to make you aware that the title is misleading. 

LeoVentures who is fully owned by LeoVegas bought 51% of CG for 3 million euros with an additional 1.5 million euros that is highly likely to be paid out to the previous majority owners of CG. Which put the figure at 4.5 Million Euros and an evaluation of CG at 9 million Euros. 

//

I also think LeoVegas are more concerned with the probable regulations that will hit the Countries in EU and wants to acquire additional ways to promote gambling. Casinoground with an already large database and one that is growing, is a great acquisition for LeoVegas probably for the user information(Email etc). 

I don't think the affiliate program hurts, but its more the icing on the cake.

 

 

Edited by someguy123
Clumsy fingers
  • Like 1

Share this post


Link to post
Share on other sites

Well then again, its likely that every gambler on here already have an account with LeoVegas and have given them all the information they ever need from us. 

Share this post


Link to post
Share on other sites
1 hour ago, SuperSmask said:

See this post for more info. 

 

 

I only get in the forum when i click on the banner, so please relink it :) 

Share this post


Link to post
Share on other sites

When I read about this deal this week (on a responsible gambling thread) I assumed it must have been something I missed. Everyone has a lot going on pre Xmas so easily done. But it seemed like a very big deal to me so I was surprised I'd missed it.

But if that link posted is really the only discussion about it then it's obvious how I missed it.

I think for the CG crew it's fantastic news and congratulations on sealing the deal. I think for the viewing community and anyone who has followed these CG streamers from the start it's sad news. Make no mistake - this is full on commercialisation of casino streaming with CG at the front of that new wave and you the viewer the target of their focus. Feels good doesn't it.

Share this post


Link to post
Share on other sites
1 hour ago, NudgeShuffle said:

When I read about this deal this week (on a responsible gambling thread) I assumed it must have been something I missed. Everyone has a lot going on pre Xmas so easily done. But it seemed like a very big deal to me so I was surprised I'd missed it.

But if that link posted is really the only discussion about it then it's obvious how I missed it.

I think for the CG crew it's fantastic news and congratulations on sealing the deal. I think for the viewing community and anyone who has followed these CG streamers from the start it's sad news. Make no mistake - this is full on commercialisation of casino streaming with CG at the front of that new wave and you the viewer the target of their focus. Feels good doesn't it.

There appears to be some misunderstanding here.

As a Casinoground streamer there is no cash flowing in either direction.

To be a Casinoground streamer you have to comply to their standards and that is to play with real money and at reputable casinos.

I fail to see how it is sad news for my viewers. Nothing has changed after the investment and nothing will change for them unless I decide and make that change.

  • Like 1

Share this post


Link to post
Share on other sites
2 hours ago, Slotplayer said:

To be a Casinoground streamer you have to comply to their standards and that is to play with real money and at reputable casinos.

@Slotplayer does that limit you to play on only those who are listed here on CG, or can you choose your own casinos?

Share this post


Link to post
Share on other sites
20 minutes ago, pausefisk said:

@Slotplayer does that limit you to play on only those who are listed here on CG, or can you choose your own casinos?

I can play at any casino that I like providing it has the necessary license.

I wouldn't play anywhere else anyway and in the unlikely event I get told not to stream a certain reputable casino, then I am off so to speak.

Share this post


Link to post
Share on other sites
28 minutes ago, pausefisk said:

@Slotplayer does that limit you to play on only those who are listed here on CG, or can you choose your own casinos?

To add

If you go to my streaming profile page you will notice that the links to the casinos direct to my website so I get the commission for any referrals.

That is testimony that CG is not all about making as much money as they can for themselves because they could have made the links their own affiliate ones.

Share this post


Link to post
Share on other sites
50 minutes ago, Slotplayer said:

To add

If you go to my streaming profile page you will notice that the links to the casinos direct to my website so I get the commission for any referrals.

That is testimony that CG is not all about making as much money as they can for themselves because they could have made the links their own affiliate ones.

I've (for some reason without knowing why) always though that i supported the steamers when using one of the signup links here on CG. But i see now that instead of doing that i'm from now on will support CG and that includeds LeoVegas (51%). I'll make sure to use those links in the stream from now on :)

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

Sign in to follow this  

×