The total purchase price is EUR 5 m for all assets

LeoVegas acquires Expekt from Betclic Group

The acquisition strengthens LeoVegas' brand portfolio with an established position in sports betting.
Reading time 1:25 min
LeoVegas AB is acquiring Expekt Nordics Ltd and related assets from Betclic Group. Expekt is one of the most well-known sports betting brands in Sweden and the Nordic countries.

LeoVegas is acquiring all of the shares in the Maltese company Expekt Nordics Ltd. Expekt holds a Swedish gaming licence and conducts operations with Swedish customers under the Expekt brand. At the same time, LeoVegas is entering into an agreement to acquire assets related to Expekt from the company Mangas Gaming Ltd, including all rights to the Expekt brand and access to the existing customer database.

NGR (Net Gaming Revenue) for the acquired business amounted to EUR 6.9 m in 2020, and the business is profitable. During the fourth quarter of 2020 Expekt generated EUR 1.6 m in NGR, of which 91% is attributable to the Swedish market. The purchase price represents a revenue multiple (based on NGR) of 0.7x for 2020.

The deal includes a commercial team of three people who together with LeoVegas' central functions will drive the brand going forward. LeoVegas is not acquiring any technology, and technical migration to LeoVegas' proprietary technical platform is initiated. The technical migration and the acquisition as such is expected to be completed in May 2021. Payment will be made in cash and will be financed with existing funds.

"For those of us who grew up with online gambling in Sweden, Expekt is undeniably one of the pioneers in sports betting. I can remember back in the early 2000s when everyone played on Expekt. After a few years on the sidelines, we will now restore Expekt to its former glory as the leading sports betting brand," comments Gustaf Hagman, Group CEO LeoVegas. "We are working resolutely to offer the ultimate mobile sports betting experience, which will entail a number of new innovations and new thinking with a starting point from what a mobile experience can entail for the big years of sport in 2021 and 2022. This is a milestone for LeoVegas and represents a broadening of our strategy. We look forward to Expekt once again becoming a leading sport brand in Sweden and the Nordic countries."

Leave your comment
Subscribe to our newsletter
Enter your email to receive the latest news
By entering your email address, you agree to Yogonet's Condiciones de uso and Privacy Policies. You understand Yogonet may use your address to send updates and marketing emails. Use the Unsubscribe link in those emails to opt out at any time.