Leo VegasTo Enter German Sports Betting Market

Published Friday, February 09, 2018 - Online-Casinos.com
Leo VegasTo Enter German Sports Betting Market

Mergers and acquisitions are two of the driving forces behind the development of the online gambling industry with some being small and others large. A recent announcement that Stockholm listed online gambling group LeoVegas has moved to enter the German sports betting market is another example of an online gambling operator recognizing the potential of expansion into new territory.  

The recent acquisition of Malta located operator World of Sportsbetting Ltd for €2.6 million is a significant step towards success in the jurisdiction for Leo Vegas. The assets of the World of Sportsbetting will enable a smooth entry to the German wagering market. The company holds both a sports betting licence and casino licence in the German state of Schleswig-Holstein.

The subsidiary, ‘LeoVegas International’ will be the vehicle for the acquisition of World of Sportsbetting Ltd which will further the expansion plans of Leo Vegas in the strict regulatory environment of Germany’s online sports betting market. A new LeoVegas Brand Ambassador for Deutschland was also named with German football legend Lothar Matthäus filling the role. The football star captained the Nationalmannschaft to World Cup glory at Italia 1990, and is a regular on German TV sports broadcasts.

Gustaf Hagman, Group CEO, LeoVegas, commented on the plans for the German market entry,  “The licenses give increased credibility when we collaborate with, for example, media partners, which is important in order to get the full effect on our market investments. Our new ambassadors also increase the local touch in our marketing, which we know creates loyalty and increased brand awareness.”

“LeoVegas 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”

 

 

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