Published
OnlineCasinoMergers & AcquisitionsIndustry

LeoVegas acquires World of Sportsbetting Ltd for €2.6m

Onli

leovegasgermany
ne casino and affiliate operator LeoVegas AB has followed up its listing on Sweden’s Nasdaq stock exchange last month by concluding a €2.6m deal to acquire Maltese company World of Sportsbetting Ltd.

World of Sportsbetting Ltd holds a sports betting and casino license in the state of Schleswig-Holstein as well as recently having an application for a sports betting licence approved in Hesse, under the German Interstate Treaty on Gambling.

Receiving a licence in Hesse essentially allows LeoVegas to market sports betting throughout Germany, and the company is already making further plans to do so.

In addition to signing the multi-million euro deal, which is expected to complete in February, the brand have announced the signing of agreements to recruit football legend Lothar Matthäus and handball player Stefan Kretzschmar as brand ambassadors in the German sportsbetting market.

Addressing potential expansion in the German sports betting market, Gustaf Hagman, LeoVegas CEO said: "The licenses give increased credibility when we collaborate with, for example, media partners, which is important in order to get full effect on our market investments. Our new ambassadors also increase the local touch in our marketing, which we know creates loyalty and increased brand awareness.

“We can now also be even more local on the product side and, especially, add important payment solutions that are important for the German market. This is line with our strategy to enter regulated markets and gives LeoVegas the best possible conditions to accelerate further in the German market."

Casino News Sponsor
Premium+ Connections
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium Connections
Consultancy
Executive Profiles
Seminole Hard Rock Support Services
Metropolitan Gaming
Holland Casino
Nederlandse Loterij
Relax Gaming
Follow Us

Facing Facts: Q1 2024 analysis from across the globe

Gambling Insider tracks the Q1 results of operators across t...

Taking Stock: A guide to sports betting operator and supplier prices

Gambling Insider tracks sports betting operator and supplier...

Tailor-made: The power of personalisation in the modern gaming industry

With insights from GR8 Tech, Greentube and the Oregon Lotter...

Sportradar and the Taiwan Sports Lottery: More offerings, greater efficiency

Danny Fok, VP of Strategic Projects at Sportradar, speaks al...