In March 2021, driven by the previous year's growth and focusing on future growth, the LeoVegas announced that it has acquired the betting site Expekt.

This negotiation placed LeoVegas as one of the largest companies today, having as an extra benefit the possibility of taking advantage of all the experience accumulated by Expekt.

For the entire process to be completed, LeoVegas needed to disburse 6 million dollars, but the company guarantees that it is a strategic investment.

Negotiation

Although not as well known among New Zealanders, Expekt is one of the most traditional bookmakers in the European market.

Founded in 1999, the Swiss bookmaker was one of the pioneers in sports betting. Over the years, it has lost a little space, but it is a well-known brand in the northern hemisphere.

The company even registered more than 1.8 million customers and had a structure that included sports betting and casino games.

With a good experience in the market, Expekt caught the attention of other companies, such as LeoVegas, which after months of negotiation, made the purchase for about $6,000,000.

According to Gustaf Hagman, chief executive of LeoVegas, this was a strategic acquisition, aimed at taking a prominent position among online bookmakers.

What changes at LeoVegas

By acquiring the Expekt betting site, LeoVegas becomes the owner of the entire corporate structure of the brand, as well as its operating license, issued by the Government of Switzerland.

LeoVegas also gets the rights to use the Expekt brand and gets access to the Swiss bookmaker's user base.

The negotiation also includes a team of three professionals from the commercial area, who have the mission of outlining the next steps, both for Expekt and for LeoVegas.

In practice, while the negotiation is underway (it should be finalized in May of this year), little changes for LeoVegas.

However, the projection for the future is that all this movement will make the betting site conquer even more players and gain more space in the market.

The projects of LeoVegas

According to Hagman, the acquisition of Expekt is part of a series of improvements that are being thought and developed by LeoVegas, which is already preparing for the future and seeks to grow within the segment.

One of them concerns bets made on mobile applications. LeoVegas ' proposal is to offer an agile and high-quality environment for the major sporting events that will take place in 2021 and 2022.

In addition, the trend is for the brand to continue the service it offers users, which has a high approval rating, especially after a successful year.

Last month, LeoVegas announced its 2020 results, with a 103.2% growth in profits. Only the last quarter of last year accounted for the highest revenue in the history of the brand.

These numbers indicate that bettors like the service of LeoVegas. And with the acquisition of Expekt, the trend is for the bookmaker to become even better and more complete.