LeoVegas acquires German market licenses and signs new ambassador
13 February 2018
(PRESS RELEASE) -- LeoVegas
AB 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 operators are allowed to freely market sports betting throughout Germany. The acquisition is being made for a purchase price of 2.6 million EUR, 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, commented, "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 colorful 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.