SBC News Voice of the Sports Betting Industry
LeoVegas has taken another step in its strategy of enhancing its sports betting operations, with a particular focus in the Nordic markets, relaunching the Expekt brand in Denmark.
The company, which has traditionally focused on online casino products, has taken its ‘Nye Expekt’ (New Expect) sportsbook live in Denmark following a successful run in neighbouring Sweden.
Expekt returns to Denmark after a 10-year absence – having initially exited the market prior to its buyout by LeoVegas in 2021 – and with some enhancements made to its offering, including a new smartphone app, competitive odds and an updated igaming section.
Gustaf Hagman, CEO at LeoVegas Group, said: “Expekt is one of the strongest brands in the Nordics, and we’re thrilled to be relaunching nye expekt in Denmark with a modern app and competitive odds.
“We have a clear strategy to expand by increasing the number of brands and markets where we’re present, and we see great potential for growth in sports betting.”
LeoVegas added that the relaunch of its Danish sports betting business forms part of a wider group strategy to enter its brands into new markets and expand its wagering operations.
In the years since Expekt exited the Danish market, LeoVegas has sought to establish a presence in European betting, resulting in its acquisition of the sportsbook in 2021 from the brand’s then-owner Betclic Group for €5m.
The following years have since seen LeoVegas become a target of corporate takeovers, with the firm being bought out by leading US gambling and entertainment conglomerate MGM in H2 last year.
Ahead of the $607m acquisition, LeoVegas reported that sportsbook momentum for its Epxect and BetUK brands remained strong in a Q2 2022 trading update to its Nasdaq Stockholm investors, prior to its delisting from the stock exchange in order for the MGM buyout to go ahead.
The firm’s desire to build up and capitalise on this momentum in betting has also seen it embark on a sports marketing strategy, partnering with prominent European football clubs Manchester City and Inter Milan.
