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LeoVegas Gets Into Streaming Via CasinoGrounds
LeoVegas, one of the world’s leading online casinos, has purchased a controlling stake in the online casino streaming service GameGrounds United AB for $3.5m.
The move comes at a time when the importance of streaming to online gaming continues to grow. CasinoGrounds platform is currently one of the preferred ways amongst online casino players to broadcast their gameplay and big wins across the internet via platforms such as Twitch and YouTube.
“In CasinoGrounds we see a new behaviour in which persons interested in casino are watching others play casino via YouTube and Twitch. CasinoGrounds has created a new niche through its live streaming and social platform, which are highly appreciated by players,” said LeoVegas CEO Gustaf Hagman.
CasinoGrounds Revenues, Profitability High
While there is little doubt that many casino operators are looking to get into the streaming arena, what makes LeoVegas’ new acquisition a strategic coup is the strength of the asset required.
There are many different platforms out there, but CasinoGrounds offers a unique mix of UX and unique features to online casino players; it’s a very popular service, with all the biggest names in online casino gaming making sure to have their streams showcased there.
And that makes it a very profitable one. The site reported revenues of nearly $500,000 in Q3 2017, with much of that turning into profit.
New Synergies For A New Industry
Of course, LeoVegas isn’t really interested in the profitability of CasinoGrounds in and of itself (although there’s little doubt they’ll take the cash).
The true value fo the acquisition lies in the ability to reach such a huge audience of online casino players via streaming. Undoubtedly, the site will see more and more streamers and other content featuring the LeoVegas brand, with the ultimate goal of driving more players — and their wagers — to the casino site.
In today’s climate, there’s little doubt that this is just as effective — if not more effective — than traditional marketing channels.