Online casino and sports betting service provider company LeVegas is further going to expediate into the sports betting field. It is to acquire Expekt Nordics and related assets from the French group Betclic.
In Sweden and the Nordics, Expekt explored digital wagering at first. Now, it is one of the largest commercial wagering brands with massive popularity.
LeoVegas confessed that it decided to pay €5 million to enlarge its growing family. Including flagship LeoVegas, it currently has 13 activities. Besides, the recent announcement emphasizes this company’s branded portfolio and extends its progress productively. It expects this investment will set down this company a step ahead in the sports betting market.
According to the deal’s terms, LeoVegas will attain all shares of Expekt Nordics Ltd. The last operator has a license from Spelinspektionen which is the Swedish Gambling Authority. He operates under the Expekt brand in Sweden.
LeoVegas also agreed with Mangas Gaming Ltd. to purchase all assets related to the Expekt operation with all rights and access its player’s database. Expekt is a lucrative business as it made €7 million in revenue last year.
Very recently, LeoVegas also made a stunning announcement about its new Android gambling apps launch in Denmark, Spain, Sweden. The first industry announced launching an android gambling app after Google permitted uploading gambling-related products on Play Store.
Excluded Technology
As LeoVegas said, this acquisition of Expekt excludes technology. The process of this operation is expected to complete in May or before any significant sports event of this year.
Many Gambling groups intended to provide online casino adventure. Sports wagering earned 9% revenue of its gross income in the last three months of 2020. LeoVegas explained the acquisition with Expekt, including with its private products and emphasize consumer experiences. It will help to develop wagering offers and sports betting business.
Expekt was founded in 1999 and got huge popularity among Swedish and Nordic bettors. At present, this company has 1.8 million registered customers and keeps going with reputation.
Because of massive competition, the Expekt share market has dropped in recent years in that region. But its brand consciousness remains exceedingly prominent amid pertinent targeted groups.
