KanonGaming finalises Swedish exit with sale of four casino brands

February 5, 2025

KanonGaming finalises Swedish exit with sale of four casino brands

KanonGaming, a prominent B2C operator in the iGaming industry, today announced the finalisation of its strategic sale of four Swedish casino brands, CasinoEpic, CasinoGami, FrejaCasino, and LokeCasino, to tier-one operator PAF.

Completed on 3 February 2025, the transaction is structured on an earn-out of previous months’ performances and has been executed at an undisclosed price.

The deal marks KanonGaming’s decisive exit from the Swedish market where, under the strategic vision of CEO and Founder Nikolai Livori, their 2024 operations generated nearly 192M SEK (17M EUR) in revenues.

When vision meets passion

In a press release published on 5 February, Livori said of the move, “I am truly exhilarated by this milestone. Achieving nearly 192M SEK in revenue in Sweden stands as a powerful indicator of what can be accomplished when visionary leadership meets a passionate team. Today’s sale is not just an exit from one market; it’s the launchpad for our ambitious journey into the future of technology.

“I’m incredibly excited to channel our expertise into developing cutting-edge tech solutions and expanding our B2B operations through Skivori, where innovation and next-generation gaming platforms will lead our next chapter.”

Speaking exclusively to SiGMA, Livori explained more about the motivation behind the sale, “Skivori owns the tech B2B, whilst KanonGaming owns the B2C side of things (SGA and DGA). Going forward, I want to focus less on B2C, and more on offering tech platforms for SGA, DGA, MGA, Curacao and SweepStakes.

It’s time to do what I love the most, build tech.”

PAF secures new licence

Under the terms of the deal, PAF has secured a new license in Sweden to operate the acquired brands, enhancing its portfolio and reinforcing its leadership in the competitive Swedish casino market.

“I created those brands with love,” Livori told SiGMA, “One of them, CasinoGami, was even inspired by one of my dogs. I wanted to hand them over to someone who has the dedication to take them to newer heights.”

KanonGaming currently retains a Danish license; however, the future of its operations remains under evaluation, and it could potentially seek an exit.

Looking ahead, KanonGaming will continue to serve its B2C clientele in select markets, while Skivori is poised to become the dedicated tech hub powering the next phase of growth. With its cutting-edge platform solutions and innovative game development capabilities, Skivori will drive the B2B strategy, “creating robust partnerships and pioneering next-generation gaming experiences across the iGaming industry.”

About KanonGaming

Founded by Nikolai Livori, KanonGaming has built a reputation as an innovative B2C operator within the gaming industry. With a history of pioneering market initiatives, the company is now refocusing its efforts by exiting the Swedish casino market while continuing to explore new opportunities and growth areas internationally.

About Skivori

Skivori, also established by Nikolai Livori, is dedicated to advancing the technology behind the iGaming industry. As a forward-thinking platform supplier and game development firm, Skivori is committed to delivering state-of-the-art solutions and expanding its reach across new markets.

About PAF

PAF is a recognised leader in the Swedish casino market, known for its commitment to delivering premium gaming experiences. The acquisition of these well-established brands is a strategic move designed to further enhance its market presence and operational portfolio.

About Nikolai Livori

Nikolai Livori is a trailblazing entrepreneur and industry leader known for his dynamic vision and innovative approach in the gaming sector. As the founder and CEO of both KanonGaming and Skivori, his strategic guidance has been pivotal in achieving significant milestones. His passion for technology and commitment to developing next-generation gaming platforms continue to set new standards within the iGaming industry.