LeoVegas continues the course as one of the leading gaming companies in the world by expanding to yet another brand. They have previously bought Royal Panda. On Monday, March 15, it was announced that LeoVegas has bought 100% of Expekt, which has long been a well -known name in the industry in the Nordic market.
LeoVegas thus expands its range and can further establish itself in sports betting in addition to developing the casino section even more.
Gustaf Hagman, CEO of LeoVegas said he wants to restore Expekt his old honor, as they have been somewhat forgotten in recent years.
Expekt
Expekt has been around since 1999, and after a brilliant start in the early 2000s, they lost some of their importance in the entire Nordic market. Betclic Group bought Expekt at the end of 2009.
During a period, Expekt was one of the largest players in the Nordic market, but the market share has decreased in recent years. At the same time, the Expekt brand is still high among the relevant target groups that like sports games.
The purchase price is 5 million euros, LeoVegas takes over all shares and the customer base for Expekt with immediate effect.
They have in many ways been outdated in recent years, so now it can be exciting to see what changes can happen in the time to come.
Sport is an increased strategic focus at LeoVegas Group
Before the acquisition, LeoVegas Group had 13 Brands in his portfolio, where Leovec is the biggest. Most of the gaming companies are aimed at offering the ultimate gaming experience in the casino. During the fourth quarter 2020, Sport accounted for 9% of the Group's total turnover.
The acquisition of Expekt, combined with LeoVegas's focus on product and customer experience, provides conditions for increasing the proportion of sports betting income over time. The Group's strategy to achieve this is to offer sports -interested players convincing and relevant Brands in combination with an innovative and personal experience.
The Sports Years 2021–2022 is the key
The timing of expanding further in the sports segment is logical, as the years 2021 and 2022 are filled with major sporting events and championships.
The technical migration of Expekt is expected to be completed in May, and thus a complete product will be ready for the French Open, the Champions League final, the ice hockey world championship and the NHL Stanley Cup. These events come in addition to the Football Championship and Copa América in June, and the Tokyo Olympics in July and August.
The year 2022 will, in addition to the usual major sporting events, contain the Winter Olympics in Beijing, the Football Championships for Women and Men's World Cup in Qatar.