LeoVegas completes World of Sportsbetting acquisition

(PRESS RELEASE) -- On 7 February 2018, LeoVegas announced the acquisition of World of Sportsbetting Ltd. (Malta). LeoVegas today completed the acquisition and gained possession of the shares in World of Sportsbetting Ltd. The acquisition was made for cash consideration of EUR 2.6 million.

World of Sportsbetting Ltd. (Malta) holds a sports betting license and a casino license in the German state of Schleswig-Holstein as well as an approved application for a sports betting license in Hesse. An approved application for a sports betting license allows a company to market sports betting throughout Germany.

The licenses give LeoVegas greater credibility in the German market and enable access to payment solutions that are important in Germany. This is in line with the company's strategy to expand in regulated markets and gives LeoVegas the best possible conditions to further accelerate in Germany.

In connection with the acquisition, LeoVegas also announced LeoVegas new ambassador, Lothar Matthäus, and the focus on LeoVegas Sport. Lothar Matthäus has a long and successful national team career behind him, making him a strong profile in the German sports community.