LeoVegas Tightens Up German Grip with New Partnership

Staff Writer Industry News, LeoVegas Casino 1,267

LeoVegas has strengthen its presence in the German market by acquiring German facing sports betting operator, World of Sportsbetting, for €2.6 million.

The Acquisition Deal

The Maltese company, World of Sportsbetting, holds a sports betting 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, which allows LeoVegas to freely market sports betting throughout Germany.

The acquisition of €2.6m is due to be completed until the end of the month.

LeoVegas has also signed an agreement with two sports icons as ambassadors in the German market, the football superstar Lothar Matthaus and the German handball pro Stefan Kretzschmar.

The Ambassadors

Matthaus has played five world championships and has been named the world’s best football player.

With his long and lucrative national team career behind him, he is a perfect choice the ambassador role. Kretzschmar, being a handball star with colorful style on and off the pitch and impeccable instinct for winning, is a strong profile in the German sports community. The ambassadors are expected to increase a local touch in the marketing of the company and create loyalty and 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.”, LeoVegas Group Chief Executive, Gustaf Hagman commented.

This deal is a part of LeoVegas’ strategy to further expand on regulated markets and acquiring this license gives them increased credibility in collaborations with partners, and therefore LeoVegas can get full effect on their market investments.

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