News Wiggin advises founders of Royal Panda on the sale to LeoVegas

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LONDON – Media, technology and IP law firm Wiggin has advised the founders of Royal Panda, the fast growing B2C gambling operator, on the sale of the group to LeoVegas. Royal Panda has in a short time built up an exciting brand with significant revenues in the UK market.

The initial consideration payable by LeoVegas is EUR 60m with a possible earn-out payment of an additional EUR 60m. The acquisition of Royal Panda strengthens LeoVegas’ expansion in regulated gaming markets, especially in the UK, and adds another strong brand to the LeoVegas group.

Corporate partner David McLeish led a cross-departmental team and was assisted principally by corporate senior associate Jason Fisher, associate Tom Watkins and tax partner Sue Crawford.

The founders of Royal Panda commented that “Wiggin is the most professional, efficient and dedicated law firm we have ever worked with. Providing invaluable expertise and 24/7 commitment, whilst keeping track of every single detail, they contributed greatly to a successful outcome for us.”

Wiggin’s corporate practice has been involved in many of the most significant deals in the online gambling sector in recent years. The firm’s award-winning gambling team advises stakeholders from across the gambling industry on all legal and regulatory aspects of their businesses.