LeoVegas AB, which aspires to become the industry standard in online sports betting, has revealed ambitions to grow in this direction. Betclic Group, a French online gaming company, has agreed to sell all of its assets to Expekt Nordics Ltd. The sum of €5 million required to close the agreement is the total acquisition price.
Once the deal is finalized, LeoVegas will assume full control of Expekt. The latter is an established name in the world of online sports betting, having served the Scandinavian market since 1999.
Enhancing LeoVegas’ Sportsbook
LeoVegas announced to its investors that it would move forward with the purchase of Expekt to bolster its sports betting site presence in Sweden, the company’s home market. Currently, Expekt makes 91% of its revenue from this sector.
As a result of the deal, Expekt will be integrated into LeoVegas’s in-house IT infrastructure. The initiative’s stated goal is to “revitalize the legacy of the sportsbook brand,” which contributed €6.9 million to the NGR in the previous calendar year.
LeoVegas’ strategic growth into the sports betting site sector was highlighted to investors as part of the company’s decision to acquire Expekt. LeoVegas plans to use this growth strategy to increase and diversify its revenue stream outside of online casinos for the rest of 2021 and all of 2022.
Taking It Back in Time
A representative from LeoVegas took a nostalgic tack while discussing the company’s purchase of Expekt. While Expekt has been on the sidelines for a while, he noted that the company has long been recognized as one of Sweden’s sports betting pioneers and that LeoVegas has every intention of bringing it back to its former glory as the region’s leading sports betting brand.
LeoVegas has also stated that it is determined to provide its customers with the best mobile sports betting experience possible. For the years 2021 and 2022, which are expected to be banner years for sports, this whole experience will necessitate a number of improvements, as well as new thinking into what type of foundation a mobile experience will require. LeoVegas has reached a major milestone with its sports betting website with the purchase of Expekt, and the company is expanding its scope.
By the end of May, we expect to have Expekt fully integrated into LeoVegas’ infrastructure. To further support the next French Open, Champions’ League, UEFA Euro Championships, and 2021 Tokyo Olympic Games, the brand hopes to expand its distribution network.