LeoVegas adds AI startup to investment portfolio
Swedish operator bolsters stable with humbl.ai as Estonian firm joins the likes of BeyondPlay and Blue Guru Games in LeoVentures
LeoVegas has added humbl.ai to its burgeoning LeoVentures investment portfolio to take its total number of companies to five.
Humbl.ai is an AI-powered solution that aims to support igaming and e-commerce businesses across marketing and compliance verticals.
LeoVegas said humbl.ai allows firms to “streamline marketing efforts, cut costs and maximise their return on investment”.
The Tallinn-based firm was founded by former Catena Media, Goliath and Acroud head Alen Kojadinovic in October 2022.
Kojadinovic left Acroud in July 2022 after serving head of casino to launch the Humbl.ai startup.
Humbl.ai joins supplier Blue Guru Games and casino streaming platform CasinoGrounds in the LeoVentures portfolio.
BeyondPlay and esports betting platform Pixel.bet make up the remainder of the companies LeoVentures holds a stake in.
LeoVegas said: “LeoVentures drives growth and value creation by allowing portfolio companies to retain their entrepreneurial identities and independence at the same time that they can accelerate their growth with capital, knowledge and strength of the entire LeoVegas Group.
“We are thrilled to have humbl.ai as part of [the team] and can’t wait to see what they will achieve in the future.”
MGM Resorts-owned LeoVegas previously sold live casino supplier Authentic Gaming to Genting in October 2019 for €15m in one of the successful returns for its LeoVentures arm.