Internet casino group LeoVegas has announced that they've purchased Maltese company World of Sportsbetting, allowing the opportunity for Leo to move in the German gaming market.
The agreement will see LeoVegas paying €2.6 million for the company, which will be picked up through their LeoVegas International subsidiary, which is expected to be completed by the end of the month. For LeoVegas, the deal is lucrative as World of Sportsbetting holds a license to offer sportsbetting and casino services to the German state Schleswig-Holstein as well as an active application for the state of Hesse.
Speaking about the agreement LeoVegas CEO Gustaf Hagman said, "The licences 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."