If you’ve been paying attention to the gaming market in the UK over recent months, you’ll undoubtedly have noticed that LeoVegas is going all out to establish itself as the online and mobile casino of choice for British players. From new software partners to massive marketing campaigns, few brands have done more to build up the player base in a single country than this one, but they well and truly put their money where their mouth is last week with the acquisition of the assets of Intellectual Property & Software Limited (IPS).
IPS is neither a household name, nor a snappy one, but it could well turn out to be a crucial component of the rapid UK expansion which LeoVegas craves so much. Between the acquisition of Alderney-based IPS, Rocket9 of Newcastle and another unnamed company, LeoVegas now controls the 21.co.uk, UK Casino, Bet UK and Slotboss brands.
The acquisitions were announced to the London Stock Exchange, where LeoVegas stated that the £65 million acquisition would be partly financed in cash and partly through the casino’s debt financing, which was already secured back in October 2017 when the company purchased Royal Panda Casino.
IPS managed to generate gaming revenue of £11.7 million in the final quarter of 2017, which ended up being a 49% increase on the same quarter in the previous year. This revenue is earned through IPS’s data driven marketing approach, which allows the company to identify trends and potential players across mobile devices, before turning them into customers on a platform provided by Bede Gaming.
Bede Gaming was clearly playing their part in the success of IPS, as LeoVegas has opted to enter a service agreement with the company to continue the same provisions being made previously. Indeed, the company referred to Bede Gaming’s platform as being “very advanced from both a technical and product standpoint, thus a very good technology solutiom for the UK gaming market.”
Gustaf Hagman, CEO of the LeoVegas Group, commented: “To be able at our six-year anniversary of the launch of LeoVegas to conduct this remarkable acquisition feels just great! Since its start, LeoVegas has pursued a highly successful global brand strategy. Following the acquisition of Royal Panda, LeoVegas now works with two scalable brands.
“In IPS, we see several attractive attributes, and they have tremendous momentum in their growth and profitability. Combined with one of the market’s most effective customer acquisition models, we are now gaining a firm stronghold in the UK with the acquisition of 85 employees with local expertise. With this acquisition, we are adding a company culture with a strong technology and product focus which is a perfect fit with LeoVegas’ to further strengthen the Group’s position as the leading GameTech company.”
It all adds up to pretty good news for our UK readers, as LeoVegas just so happens to be one of our favourite online and mobile casinos out there right now. Commitments such as this acquisition demonstrate a real focus on offering players the best gaming experiences possible and we will be more than happy to see the brand continue to innovate and evolve for the good of their customers!