iGaming operator LeoVegas has agreed a deal to buy the Expekt sports betting brand and all its assets from Betclic Group for €5 million.
The deal sees LeoVegas strengthen its position in the Swedish and Nordic markets where Expekt is one of the most popular sports betting brands.
In a press release, Gustaf Hagman, Group CEO LeoVegas said:
“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.”
He went on to add:
“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.”
Expekt posted €6.9 million in net gaming revenue for the year 2020 with €1.6 million coming in the final quarter.
The deal is expected to go through in May of this year and comes shortly after LeoVegas became the first iGaming operator to launch an app on Google Play in Sweden, Denmark, and Spain.