Royal Panda, LeoVegas to Pull Out of Japan, India

This story was published more than 1 year ago.

As its purchase by MGM Resorts comes closer to closing, LeoVegas Group announced that they'll be pulling their Royal Panda and LeoVegas brands from Japan and India at the end of this month.

The company explained the decision by noting that the group will be focusing on regulated markets. MGM is looking to expand its online presence outside of North America and made the $607 million purchase of LeoVegas to achieve this goal. With MGM being a large betting brand, it will be important to ensure that its online brands are operating legally, as operating in grey markets could cost the land casino giant an opportunity to move into markets if they decide to legalize betting.

In a statement, a LeoVegas spokesperson said, "The group's strategy is […] to grow on locally-regulated (and soon to be regulated) markets. We continuously conduct strategic overviews of our group brands and the markets they are present in, seeing that we want to make sure that they fill a clear long-term purpose."

Japan has moved to legalize casino gambling in its country, but has also been slow to move through the process of approving gaming licenses and resort plans.

MGM said that it expects its purchase of LeoVegas to close by September 7th after it obtained regulatory approvals to complete the deal.

About the author

Kingston Li // Asia Correspondent
Kingston Li
Kingston is a big fan of Baccarat and Texas Hold'em Poker and has tested his skills in tournaments around Asia and the world. He covers the latest gambling news from Asia for Casino Listings. In his spare time, Kingston enjoys hiking, video gaming, and playing disc golf.
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lvblck
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27 August 2022 - 8:43am
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That's quite interesting. Japan is a big market for many operators, so this has to be a very well-thought decision. But also since they operate in many regulated markets, it makes sense for them to focus on those.