LeoVegas launches a new sportsbook to the UK market
LeoVegas, the Stockholm-listed online gambling operator, has released a new sportsbook for the UK market.
The site in question is BetUK, which LeoVegas acquired from Intellectual Propery & Software Management (IPS) in a deal worth around £65m earlier this year.
The site has been casino only up to now, but has recently been fitted with a sportsbook and re-released in the UK. The sportsbook is powered by SBTech which is integrated with the main platform, provided by Bede.
BetUK already has a strong presence in the UK thanks to a sponsorship deal with Swansea City football club.
The brand is featured on the club’s shirt, while its sister brand, 21.co.uk, is featured on Swansea City’s training kits.
The group is focusing increasingly on the UK market. Both the above brands, along with Slotboss and UK Casino, acquired as part of the deal with IPS, are to be collectively operated under Rocket X, a UK-centric division launched by the group back in March.
In the UK, LeoVegas is adopting a multi-brand and multi-product strategy, as chief executive Gustaf Hagman explains:
Since its start, LeoVegas has adhered to a successful, global brand strategy. In larger markets this can be complemented with a local multi-brand strategy. The UK market is very large and mature, which creates scope to work with more brands that attract different types of customers. We are now taking the next step and launching a brand that has sports betting as its primary focus. BetUK.com is a premium domain with a very strong link profile that ranks high on Google and other search engines. It is a very exciting move, and I am convinced that it will be a success with strong and sustainable growth.– Gustaf Hagman, LeoVegas chief executive
Alongside increasing activity in the UK, LeoVegas also plans to develop its application for a Swedish gaming licence, along with applying for a licence in Spain.
The group also saw a strong quarter 2 (Q2) performance in 2018, with revenues up over 75%, thanks largely to the recent acquisitions.