The prominent casino operator LeoVegas revealed on Monday, March 15, 2021, that it is set to acquire Expekt Nordics Ltd . While this name may not ring a bell for Canadian players, it holds significant recognition as a sports betting entity in Sweden and other Nordic nations.
For the complete acquisition of all assets from the Betclic Group, which currently oversees Expekt, LeoVegas will be investing 5 million Euro .
This acquisition is anticipated to enhance LeoVegas's already impressive collection of brands, as Expekt’s established presence in the sports betting arena will add significant value.
The timing of this purchase could hardly be better. The years 2021 and 2022 are lined up with major global sports events, providing LeoVegas an ideal chance to revitalize Expekt and bring it back into the spotlight.
The Acquisition
As part of this transaction, LeoVegas will obtain every share of Expekt, including those held by Mangas Gaming Ltd. , thereby acquiring all brand rights and access to its current customer database.
Despite facing challenges in recent years, Expekt remains a viable entity, boasting a profit of 6.9 million Euros in 2020, with a striking 91% of this profit generated exclusively from the Swedish market.
The acquisition will also bolster the LeoVegas team with three new members, who will lead the forthcoming transition scheduled for May 2021.
Gustaf Hagman, the CEO of LeoVegas Group, shared his thoughts: “Expekt has been a cornerstone in the Swedish online gambling scene, especially for those of us who have witnessed its evolution since the early 2000s. After some quieter years, we aim to revitalize Expekt as a leading force in sports betting. Our goal is to deliver an unprecedented mobile betting experience, filled with innovations designed for the major sports events of 2021 and 2022. This marks a pivotal step for LeoVegas as we broaden our strategic horizons, and I am eager for Expekt to reclaim its status as a top sports brand in Sweden and the Nordic region.”
Who is LeoVegas?
Many Canadian players are likely familiar with LeoVegas, as the LeoVegas Casino is regarded as one of the most trusted and popular brands in the industry.
In addition to LeoVegas, the group also encompasses 13 other successful brands, each of which has proven to be profitable across various markets over the years.
The acquisition of Expekt is likely to cement the company's market position and further propel its growth trajectory.
With its extensive history, LeoVegas is equipped with a skilled team, excellent customer service, and innovative ideas to rejuvenate Expekt.
Who is Expekt?
Founded in 1999, Expekt is recognized as a pioneer of the sports betting landscape, enjoying significant success in both Sweden and other Nordic countries for many years.
After being acquired by Betclic Group in 2009, Expekt maintained its status as a leading operator in sports betting, although in recent years it has experienced a decline in market presence and value.
Nevertheless, Expekt remains a well-known name in Sweden, especially among sports betting enthusiasts, which will certainly benefit LeoVegas in its plans moving forward.
A game-changer for LeoVegas!
This acquisition could be transformative for LeoVegas, which currently derives only 9% of its revenue from sports betting. The timing is impeccable, as 2021 and 2022 are anticipated to be monumental for sports competitions.
This year alone includes events such as the French Open, the UEFA Champions League Final, the Ice Hockey World Championship, the NHL Stanley Cup, the UEFA European Football Championship, Copa America, and the Tokyo Olympics.
With such a packed calendar of sports events within a few months, we eagerly await to see how LeoVegas will elevate Expekt in May!