Stockholm-listed online gambling group LeoVegas AB has confirmed that it has concluded its £65 million acquisition of UK-focused Intellectual Property & Software Limited (IPS) (first announced January 2018).
The acquisition sees LeoVegas expand its UK online gambling portfolio, adding new assets 21.co.uk, Slotboss, Bet UK and UK Casino.
In its market update, LeoVegas governance informs that IPS brands would now be collectively operated under its new UK-centric division ‘Rocket X’.
Tackling the saturated UK betting and igaming markets, LeoVegas has launched a multi-brand/multi-product strategy, which will combine Rocket X assets with its flagship LeoVegas brand.
“LeoVegas has pursued a global brand strategy that is very successful,” LeoVegas governance detailed in its market update
“In larger markets, the group’s two global brands, LeoVegas and Royal Panda, can be complemented with a local, multi-brand 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.”