LeoVegas AB (publ) ("LeoVegas"), has through its wholly owned subsidiary LeoVegas International Ltd., entered into an agreement to acquire all of the shares in the Maltese company World of Sportsbetting Ltd (Malta), which holds a sports betting license and casino license in the state of Schleswig-Holstein as well as an approved application for a sports betting license in Hesse, under the Interstate Treaty on Gambling. An approved application for a sports betting license in Hesse means that you are allowed to freely market sports betting throughout Germany. The acquisition is being made for a purchase price of 2.6 MEUR and completion is expected to take place in February 2018. LeoVegas also signed an agreement with the football icon Lothar Matthäus and the German handball profile Stefan Kretzschmar as ambassadors in the German market.
Gustaf Hagman, Group CEO, LeoVegas, comments: "The licenses give increased credibility when we collaborate with, for example, media partners, which is important in order to get 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. We 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."
New ambassadors in Germany
Lothar Matthäus has a long and successful national team career behind him, making him a strong profile in the German sports community. He has, among other things, played in five world championships and has been named the world's best football player. Stefan Kretzschmar is a former handball star and a colourful profile with his style on the pitch and his winner instinct.
Both Lothar Matthäus and Stefan Kretzschmar are popular sports profiles in Germany and offer great opportunities from a marketing perspective to strengthen LeoVegas' position and continued expansion in Germany
For further information, please contact:
Gustaf Hagman, Group CEO and co-founder: +46 70-880 55 22, gustaf.hagman@leovegas.com
Philip Doftvik, Head of Investor Relations: +46 73 512 07 20, philip.doftvik@leovegas.com
Visitors address: Luntmakargatan 18, Stockholm
Corporate identity number: 556830-4033
About the LeoVegas mobile gaming group
LeoVegas' passion is "Leading the way into the mobile future". LeoVegas is Sweden's premier GameTech company and is at the forefront of using state-of-the-art technology for mobile gaming. In 2017 the company passed the threshold for being classified as a unicorn, i.e., a start-up valued at more than USD 1 billion. A large part of this success can be credited to an extreme product and technology focus coupled with effective and data-driven marketing. Technology development is conducted in Sweden, while operations are based in Malta. LeoVegas offers casino, live casino and sport gaming, and operates two global and scalable brands – LeoVegas and Royal Panda and a local multibrand business in the UK market called Rocket X. The company's shares are listed on Nasdaq First North Premier, and Avanza Bank AB is the company's Certified Adviser. For more about LeoVegas, visit www.leovegasgroup.com