LeoVegas has completed its £65m igaming deal for Intellectual Property and Software and related assets.
All of the conditions included in the deal, which was first announced in January as part of an acquisitions spree by the Swedish igaming operator, have been met.
The collective name for the assets, which includes 21.co.uk, Slotboss, BetUK and UKCasino, is now Rocket X. The company stated “the acquisition will further strengthen LeoVegas' presence in the UK.”
LeoVegas enjoyed a strong year in 2017, with revenue up 43 per cent to €217m and adjusted earnings rising 31 per cent to €27.9m and operating profit increasing by 36.3 pre cent to €19.9m. Gaming revenue in January 2018 increased 76 per cent year-on-year to €24.8m. “Since its start LeoVegas has pursued a global brand strategy that is very successful,” the company said. “In larger markets the group's two global brands, LeoVegas and Royal Panda, can be complemented with a local, multibrand strategy.
“The UK is such a large and mature market that it warrants working with several brands that attract various types of customers. Rocket X has a strategy that focuses on digital and data-driven customer acquisition and thereby has one of the market's most effective customer acquisition models.”
