LeoVegas CEO: We are still looking for more UK brands
Gustaf Hagman says UK is perfect for a multi-brand strategy due to a lack of customer loyalty
LeoVegas is “open and looking” for further UK-facing acquisitions, according to CEO Gustaf Hagman, with the operator convinced of the value of a multi-brand strategy.
Speaking to EGR, Hagman said the UK was the perfect market in which to operate a multiple brand because it is “very mature and the customers are really not as loyal as other markets”.
The firm recently acquired several UK-facing brands through its Royal Panda and IPS acquisitions, but Hagman said the firm was already looking for more opportunities while “digesting” the current deals, given the amount of time needed to bring an acquisition together.
“We would like to say that we are open and looking. What we’re doing right now is digesting these major acquisitions but also, if you look at it, if it took us about a year to conduct the Rocket X one and around 8 months for Royal Panda.”
Hagman added: “It takes time to find the right acquisition, it’s all about culture and having a cultural fit.
“The only thing we lack in the UK is a high-street brand, but we benefit by having the best product and offer.”
He said he would also be looking to develop IPS’ tier-two brand BetUK as a UK-facing sportsbook to complement LeoVegas’s current offering.
The firm announced its move into the local German market last week through the acquisition of Germany facing sports betting operator World of Sportsbetting Ltd for €2.6m.