LeoVegas Completes World of Sportsbetting Acquisition
LeoVegas, online casino and affiliate operator, announced that the acquisition of Maltese company World of Sportsbetting Ltd has been finalized.
German Jump
The acquisition of World of Sportsbetting for €2.6 million was announced back in February and was finally executed this week.
LeoVegas gained possession of the shares in the company and now boasts an even greater credibility in the global market and especially Germany. World of Sportsbetting holds a sports betting license and a casino license in the German state of Schleswig-Holstein as well as an approved application for a sports betting license in Hesse, under the German Interstate Treaty on Gambling.
This acquisition allows LeoVegas to market sports betting throughout Germany and enable access to payment solutions that are important in this country. This is a step forward for the operator and gives them opportunity to further accelerate expansion in Germany.
Newest Sport Ambassadors
LeoVegas has also announced its newest ambassadors, football player Lothar Matthaus and handball player Stefan Kretzschmar, and therefore the operator’s focus on LeoVegas Sport.
They have a long and fruitful national team career and make strong influenced figures in the German sports community and therefore increase the local touch in the company’s marketing which creates loyalty and brand awareness.
Important Step in Long-Term Expansion Strategy
The acquisition also supports their strategy to expand in regulated markets and the licenses give them increased credibility when they collaborate with partners.
LeoVegas has also announced its strongest quarter numbers ever for the last quarter in 2017. They had a revenue increase of 65% to €67.8 million where the revenue from regulated markets accounted for 29% of the total revenue. Mobile deposits accounted for 69% of total deposits which increased by 62% to €224.6 million.
EBIDTA for the last quarter 2017 was €6.1 million corresponding to and EBIDTA margin of 9%. The last quarter of 2017 had very strong underlying growth and they even set a record for new depositing customers of 124,409 which is a 50% increase.
With this acquisition, several awards and a strong start in the first quarter 2018, LeoVegas expects a successful and lucrative year.
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