LeoVegas Acquire Intellectual Property & Software Ltd for $111.2 Mil
What does LeoVegas’ $111.2 million offer to acquire Intellectual Property & Software Ltd mean for casino players the world over?
LeoVegas having acquired Intellectual Property & Software Limited for $111,153.00. This is their third acquisition in just four months, as the company seeks to enhance their market presence through local, multi-brand strategies – having also acquired Royal Panda and CasinoGrounds in recent months.
Following the acquisition, the online casinos owned by Alderney-based Intellectual Property and Software Limited (IPS) will become part of the LeoVegas Group offerings. The deal also includes other IPS assets, including casino and betting iGaming brands such as UK Casino, 21.co.uk, Bet UK, and Slotboss.
In a statement, LeoVegas Group chief executive, Gustaf Hagman, explained:
“With this acquisition, we are adding a company culture with a strong technology and product focus which is a perfect fit with LeoVegas’ [strategy] to further strengthen the group’s position as the leading GameTech company.”
Big deal for a growing brand
The £65 million move comes in a year when LeoVegas Group celebrate their 6th anniversary.
Marketing service Rocket 9 Ltd and European Domain Management Ltd are also included in the deal. IPS ‘ customer acquisition strategy is data-driven and employs using state-of-the-art marketing tools. LeoVegas will also gain access to the services of Bede Gaming, whose technical platform has enabled this approach.
LeoVegas Gaming Ltd is wholly owned by LeoVegas Group. Gustaf Hagman explained how the acquired assets will help to expand LeoVegas:
“LeoVegas now works with two scalable brands; we believe that in larger markets, our global brands, LeoVegas and Royal Panda, can be complemented with a local, multi-brand strategy.”
In the United Kingdom, the total gross gambling yield was £13.7 billion (CAD 23.43 billion) in 2017, according to the UK Gambling Commission. In such large, mature markets, offering many brands at the same time helps attract various types of customers, Hagman stated. iGaming fans are known to value variety, and that’s what the Group is going for.
According to Globe News Wire, LeoVegas recorded what was likely the largest organic growth of all gaming operators in 2016. Strong numbers continued in 2017, when LeoVegas added online casino Royal Panda and live-streaming provider CasinoGrounds to the Group. Both have helped the Swedish brand spread their reach within national markets.
This latest major acquisition for the LeoVegas Group shows a strategy that could soon benefit players beyond the UK, too. LeoVegas have gone global in a short amount of time, standing as a favourite provider in many different countries, so more acquisitions could be on the way elsewhere.
What this means for other countries playing at LeoVegas
LeoVegas now has two major names on the online gambling front, and stands as a global online gaming brand. Both LeoVegas and Royal Panda offer casino games and sports betting markets. The LeoVegas strategy includes making shrewd acquisitions of local companies in countries with large player bases, in a bid to further improve their presence.
The multi-million-dollar acquisition of IPS is set to be completed before the end of the first quarter of 2018. LeoVegas could next turn their attention to their local presence in other countries holding a large number of their players.
Both Royal Panda and LeoVegas are much-loved and highly-rated in the Canadian market, for many reasons. Massive welcome bonuses, extensive game selection and easy-to-use platforms help these casinos draw in new players and keep old ones interested. The brand’s mobile gaming focus has also helped them stand out.
The LeoVegas Group’s clear desire to provide a wide variety of high-quality gaming opportunities has garnered them a large audience. The casino offers several exclusive live casino games, as well as a wide range of live and classic titles by respected developers. These include Microgaming, NetEnt, Playtech, Quickspin, Yggdrasil, and many more.
Considering LeoVegas’ recent strategic acquisitions, it may not be long before we see similar moves in Canada. This approach helps provide bigger variety to players in each locale, so it brings new opportunities for both entertainment and profit. It’s exciting to see one of the newer online gaming brands continue to grow at such a rapid rate.