On 7 February 2018 LeoVegas announced the acquisition of World of Sportsbetting Ltd (Malta). LeoVegas today completed the acquisition and gained possession of the shares in World of Sportsbetting Ltd. The acquisition was made for cash consideration of EUR 2.6 m.
World of Sportsbetting Ltd (Malta), holds a sports betting licence and a casino licence in the German state of Schleswig-Holstein as well as an approved application for a sports betting licence in Hesse. An approved application for a sports betting licence allows a company to market sports betting throughout Germany.
The licences give LeoVegas greater credibility in the German market and enable access to payment solutions that are important in Germany. This is in line with the company's strategy to expand in regulated markets and gives LeoVegas the best possible conditions to further accelerate in Germany.
In connection with the acquisition, we also announced LeoVegas new ambassador, Lothar Matthäus, and the focus on LeoVegas Sport. Lothar Matthäus has a long and successful national team career behind him, making him a strong profile in the German sports community.
For more information about the acquisition, see the press release from 7 February 2018, which is available at www.leovegasgroup.com (http://www.leovegasgroup.com).
For further information, please contact:
Gustaf Hagman, Group CEO and co-founder: +46 70-880 55 22, gustaf.hagman@leovegas.com (mailto:gustaf.hagman@leovegas.com)
Philip Doftvik, Head of Investor Relations: +46 73-512 07 20, philip.doftvik@leovegas.com (mailto:philip.doftvik@leovegas.com)
Visitors address: Luntmakargatan 18, Stockholm
Corporate identity number: 556830-4033
About the LeoVegas mobile gaming group
LeoVegas' passion is "Leading the way into the mobile future". LeoVegas is Sweden's premier GameTech company and is at the forefront of using state-of-the-art technology for mobile gaming. In 2017 the company passed the threshold for being classified as a unicorn, i.e., a start-up valued at more than USD 1 billion. A large part of this success can be credited to an extreme product and technology focus coupled with effective and data-driven marketing. Technology development is conducted in Sweden, while operations are based in Malta. LeoVegas offers casino, live casino and sport gaming, and operates two global and scalable brands - LeoVegas and Royal X. The company's shares are listed on Nasdaq Stockholm. For more about LeoVegas, visit www.leovegasgroup.com (http://www.leovegasgroup.com/).
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: LeoVegas AB via Globenewswire
