LeoVegas completes acquisition of sports betting brand Expekt

LeoVegas completed its acquisition of Expekt on Wednesday, and the brand is being launched anew.

The acquisition and new launch of the brand is part of LeoVegas' strategic broadening of its operations and stronger focus on sports betting, the company said in a press release. The new Expekt is being launched in Sweden as the first market.

LeoVegas' Group CEO Gustaf Hagman, said: "It's incredibly exciting for us as we launch the new Expekt today. The timing couldn't be better with the eventful years in a sport that we have in front of us. By running Expekt on our technical platform starting from today, customers will be able to partake in our award-winning gaming experience, both for sports betting and casino. Expekt will once again be a leading sports betting brand in Sweden and the Nordic countries, and that work starts today."

In connection with the acquisition, Expekt has been migrated to LeoVegas' proprietary technical platform (PAM), Rhino. Following the migration of Expekt and of Royal Panda earlier in May, all of LeoVegas' brands are now run on one and the same technical platform. This provides conditions for continued good scalability and efficiency in the organization.

On March 15, LeoVegas announced its acquisition of Expekt Nordics Ltd and related assets from Betclic Group. The total purchase price was EUR 5 m for all assets, and the acquisition was completed Wednesday, May 19.