LeoVegas has closed the deal to acquire a Sweden-based sports betting brand Expekt Nordics Ltd, managed by Betclic Group, for €5.0 million seeking to expand further to Scandinavia geos. LeoVegas would become a sole proprietor of all of the Maltese company's assets and stocks as a result of the purchase.
Expekt is one of the biggest players in the Swedish market, having been acquired by Betclic in 2009. Despite the fact that the Expekt's market presence has recently dropped, LeoVegas sees this as an opportunity to strengthen its sportsbook means in Sweden, given that the brand is a holder of Swedish gambling license.
Since the business already has a high brand image and is a valued iGaming player, supported by a great number of fans, LeoVegas has put it to their advantage. As a result, LeoVegas would enlist the help of a marketing team to push the company’s further exposure.
The deal is scheduled to close until May 2021, and LeoVegas operator has confirmed that it will not be taking any Expekt technologies or doing any technological migration.
Mangas Gaming Ltd is the online casino operator's preferred partner in the acquisition of properties. All rights to the trade mark of Expekt together with the present-day consumer account database will be transferred from Mangas.
CEO of LeoVegas, Gustaf Hangman said that Expekt is definitely one of the leaders of sports betting in Sweden. And this is a super empowering mission to revive the past fame of the brand in 2021, recalling the times back in the early 2000s when Expekt was the place to be.
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