LeoVegas Continues Expanding in the Online Casino Space

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Swedish mobile gaming company Leo Vegas AB (LeoVegas) appears to still be riding the momentum that propelled it to success in 2017. The company has started off 2018 by capturing headlines and turning heads of the global online casino industry.

To begin the year, LeoVegas AB received approval to be listed on the Nasdaq Stockholm regulated market, following which trading commenced on February 5 under the stock symbol LEO.

“The change in listing strengthens the Group and gives us an even better quality seal in our communication and cooperation with authorities, licensors and partners,” commented Gustaf Hagman, CEO of LeoVegas following the announcement. “For institutional investors – both in Sweden but even more so abroad – we will become more accessible and attractive as a company. Today is a big day for LeoVegas and yet another step in our ongoing journey of growth,” Hagman continued.

In February, the company obtained a German sports betting and online casino license in Germany through the acquisition of World of Sportsbetting Ltd, a Maltese company that was licensed in the German state. The acquisition is another example of the company’s continued strategy of expanding via mergers and acquisitions into regulated markets.

As part of its marketing efforts to commemorate the entry into the new regulated market, LeoVegas signed two German brand ambassadors, famous German footballer Lothar Matthäus and former handball star Stefan Kretzschmar.

“Our new ambassadors […] increase the local touch in our marketing, which we know creates loyalty and increased brand awareness,” commented Hagman in a press release. “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.”

Earlier this month, LeoVegas announced a name change for a group of assets it struck a deal to acquire back in January. The properties controlled by Alderney-based Intellectual Property & Software Limited (“IPS”) include top brands such as 21.co.uk, Slotboss, BetUK and UKCasino. The GBP 65.0 million deal closed on March 1, and following, LeoVegas announced that its newly acquired assets will now be collectively known as Rocket X.

The company also announced this month that Authentic Gaming, an independent company within the LeoVegas Group and part of LeoVentures, has formed a partnership with two of the world’s leading online gaming companies, Playtech and Betsson Group.

Playtech will gain access to Authentic Gaming’s live roulette tables games that stream from Saint Vincent Resort Casino in Italy; Casino International Batumi at Hilton Hotel in the country of Georgia, and Platinum Casino at Radisson BLU Hotel in Bucharest, Romania.

Bettson will gain access to Authentic Gaming’s entire product offering including its streaming of premium tables from Foxwood Resort Casino in the United States.

“Playtech is one of the world’s largest supplier of online gaming,” stated Jonas Delin, CEO of Authentic Gaming in a press release announcing the new deal. “Through this agreement our streaming from land-based casinos will reach a large number of players through Playtech’s extensive portfolio of operators. Moreover, the agreement with Betsson gives us yet another strong operator to deliver to. We see both of these partnerships as further proof of the strength of our offering and that we deliver a top-notch product,” Delin continued.

March 21, 2018
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