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LeoVegas Completes Acquisition of Expekt

Gambling operator LeoVegas (STO: LEO) has announced that it has completed the acquisition of Expekt and detailed its plans to relaunch the sports betting brand in the Nordic region.

In March, LeoVegas reached a deal to acquire Expekt for €5 million as it seeks to boost its brand portfolio in the sports betting sector and increase its strategic growth opportunities within the industry.

Now that the acquisition is complete, LeoVegas will be relaunching the Expekt brand in multiple Nordic markets starting with Sweden. In addition to giving the sportsbook a makeover, Expekt has also been migrated to Rhino, LeoVegas’ proprietary technical platform. Earlier this month, LeoVegas migrated Royal Panda to the same platform, meaning that all of the operator’s brands now operate on Rhino.

Gustaf Hagman LeoVegas Chief Executive

The timing couldn’t be better with the eventful years in sport that we have in front of us. By running Expekt on our technical platform starting from today, customers will be able to partake in our award-winning gaming experience – both for sports betting and casino. Expekt will once again be a leading sports betting brand in Sweden and the Nordic countries, and that work starts today.

Gustaf HagmanLeoVegas Chief Executive

The completion of the acquisition of Expekt came in the same week that LeoVegas announced an agreement with Caesars Entertainment (NASDAQ: CZR) to launch its online casino products in New Jersey in the first half of next year. As long as the operator receives certification from New Jersey’s Division of Gaming Enforcement, then LeoVegas’s Rhino platform will go live in early 2022 and there are plans to expand into other US states at a later date.

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