LeoVegas Makes a Move in the German Market
The popular online casino LeoVegas is now gaining a stronger foothold in the country of Germany through a recent acquisition. In a recent announcement, the internet gambling provider listed in Stockholm confirmed that it would be purchasing World of Sportsbetting Ltd. The company that is strategically based out of Malta was acquired by LeoVegas for a total of 2.6 million Euros.
World of Sportsbetting currently holds a license in Schleswig-Holstein, a state in Germany, for operating UK casino sites and sports betting systems. The acquisition allows LeoVegas to secure the assets in Germany and immediately have a stronger presence in the tightly regulated region.
The transaction was completed specifically by LeoVegas International, which is a subsidiary of the main online gambling firm. LeoVegas can now promote all products and services related to betting that it provides in Germany, with adherence to the existing guidelines set by regulatory agencies.
In an effort to enhance its brand recognition, LeoVegas is hiring the services of the legendary footballer Lothar Matthaus. Matthaus will now be the brand ambassador for LeoVegas Sports in the country of Germany. He is a World Cup champion from when the German national team won in Italy during 1990. Matthaus regularly appears on television as a color commentator for Bundesliga football games.
Gustaf Hagman is the CEO for the LeoVegas internet gambling group. He states that the acquisition is extremely important because the new licenses give LeoVegas more credibility when partnering with media outlets and other businesses in Germany. Hagman adds that having a local brand ambassador builds loyalty from players and creates a better awareness of the brand.
LeoVegas also plans to provide new methods of payment that are in line with the specific demand from the German market. In addition, the group can focus its efforts on presenting new products in the region and enhance its growth.
About LeoVegas
LeoVegas online casino and mobile gaming group was started in 2011 by Robin Ramm-Ericson and Gustaf Hagman. Although the company is newer compared to other online casino, it has experienced rapid growth by focusing on gaming through smartphones and tablets. LeoVegas offers sports betting, online slots, video poker, and progressive jackpots. The firm has an international presence and is publicly traded on the Stockholm Stock Exchange. LeoVegas online casino offers players hundreds of games, in addition to regular promotions and a loyalty program. The gaming group employs over 300 individuals across the globe.
