LeoVegas To Boost Sports Betting Site With Expekt
Posted on April 15, 2021 at 3:04am
LeoVegas AB has announced further expansion plans as the company strengthens its vision of becoming a leading sports betting site. It has agreed to acquire all of Expekt Nordics Ltd assets from Betclic Group, a French online gambling operator. The total purchase price of the deal amounts to €5 million.
Once in effect, the acquisition will see LeoVegas take over the full management of Expekt. The latter has been a well-known heritage online sportsbook brand that has been in operation across Scandinavian markets since 1999.
LeoVegas To Strengthen Sportsbook
In an update to its investors, LeoVegas stated that the company had decided to proceed with its acquisition of Expekt in order to help strengthen its sports betting site presence within Sweden, its home market. Currently, Expekt generates a whopping 91% of its revenues within this market.
This merger will see LeoVegas migrating Expekt onto its proprietary technology platform. The aim of this is to attempt to revitalise the legacy of the sportsbook brand, which generated a NGR of €6.9 million during last year alone.
When addressing its investors, LeoVegas emphasized the fact that the acquisition of Expekt forms part of the firm’s strategic expansion into the sports betting site market. Through this expansion, LeoVegas seeks to diversify and amplify its revenues away from online casinos during the course of the remainder of 2021 and 2022.
A Nostalgic Approach
A spokesperson for LeoVegas approached the subject of the company’s acquisition of Expekt with a nostalgic angle. He emphasized the fact that Expekt has long been viewed as one of Sweden’s pioneers in sports betting and mentioned that while the sports betting site has been on the sideline for the past few years, LeoVegas has every intention of restoring it to its former glory as the region’s leading sports betting brand.
LeoVegas has added that it is working resolutely so that it may offer the ultimate mobile sports betting experience. This overall experience will entail a number of innovations, as well as new thinking into what kind of starting point a mobile experience will require for 2021 and 2022, both of which are said to be big years for sport. The acquisition of Expekt has signalled a milestone for LeoVegas and its sports betting site, and the firm continues to broaden its strategy.
The technical migration of Expekt into LeoVegas’ operating systems should be completed by May. The hope is that this will enhance the brand’s capacity to service a busy summer of sport that is set to include the French Open, Champions’ League, UEFA Euro Championships and the 2021 Tokyo Olympic Games.
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