LeoVegas AB has made several major moves this week to consolidate and advance its inroads into the UK market, adding some key properties. The company is headquartered in Stockholm, Sweden, and is a subsidiary of LeoVegas Gaming Limited, based out of Malta.
The most significant of these is the £65 million acquisition of Intellectual Property and Software Limited (IPS) and all related assets. These assets include UK-focused casinos 21.co.uk, Slotboss, UK Casino and Bet UK. This mammoth deal was sealed partly with cash and partly with the use of a £100 million debt financing agreement negotiated as part of LeoVegas’ acquisition of Maltese online casino Royal Panda back in 2017. They have also signed deals with several UK football teams, including Brentford and Norwich City.
IPS is a significant coup for LeoVegas. The company reported revenue of over £11 million last year and are a very expandable brand, not to mention their several and diverse assets also acquired as part of the deal. LeoVegas seem dead set on expanding their presence in the UK, and who can blame them? After all, it is still the largest gambling economy in Europe.
IPS focuses on digital information and data to reach and retain its customers, and have already shown a proclivity to work across several brands, work which LeoVegas wishes to continue. LeoVegas is also reportedly entering into a services agreement with Bede Gaming, who provide a technical platform to IGS. LeoVegas’ CEO Gustaf Hagman was quoted as remarking that IPS had shown “tremendous momentum” and that they had one of the market’s “most effective customer acquisition models”.
Altogether it seems like a scoop for LeoVegas, and we in the UK market can likely expect to hear a lot more from them in the near future.
