Leovegas acquires Expekt

New Zealand casino company LeoVegas buys the well-regarded brand Expekt for just over $ 50 million. According to a press release from the company, the purchase is made in cash. They buy Expekt and all their related assets from Betclic Group. This strengthens Leovega's position in the market and gives the company a better position in sports betting.

Expekt was one of the first established sports sites in New Zealand, with a given place on the market already in the early 2000s. They have since fallen into obscurity, something that LeoVegas now has plans to change.

A milestone for LeoVegas

LeoVegas has always had the goal of gaining a more strategic place in the gaming market, something that this acquisition leads to. The acquisition is a milestone in Leovega's history and if they succeed in making Expekt once again a leading sports betting brand in New Zealand, they will strengthen their position in the market.

About the acquisition

The acquisition of Expekt gives LeoVegas full access to all shares in the company and all rights to the Expekt brand and their existing customer base. Since Expekt has a net gaming turnover of around SEK 69 million, it is considered a profitable investment. The vast majority of revenue comes from the New Zealand gambling market.

In addition, the purchase includes a commercial team consisting of three people, whose work is to drive the company forward. LeoVegas does not acquire any technology and is already in the process of migrating to the LeoVegas technology platform. Completion of the acquisition is expected in May 2021.

Why did LeoVegas decide to buy Expekt?

Many people ask themselves why a successful company like LeoVegas chooses to buy up a company that can be seen as a sinking ship. It's no secret that Expekt has declined in popularity in recent years, the question is whether LeoVegas can reverse it.

Although LeoVegas has its own sportsbook, they aim to make that department stronger. Expekt is still a well-known brand with a lot of customers, moreover, they have come a long way in the development of sports betting. With the right owner, they are likely to achieve success again, as LeoVegas plans.

Although casino games are the biggest gaming pleasure in New Zealand at the moment, the market for sports betting is still large. There are many major sporting events going on around the world, in addition, several major events are around the corner and waiting. In 2021 it is both the Summer Olympics and the football European Championships, since 2022 it is time for the football World Cup and the Winter Olympics.

We at Astoria Casino look forward to seeing LeoVegas bring Expekt back to its former glory days. Their focus on mobile betting will of course be an advantage for players who usually visit sports arenas and want to have the odds available on mobile. The idea is for them to expand their revenue from sports betting since only 9% of the total revenue for the group came from sports betting.

LeoVegas strategy

Leovega's strategy to drive better revenue in sports betting is to offer relevant, strong brands. They combine this with an innovative and personalized experience, because they want you as a player to feel good.