Last Updated on Tuesday, 13 August, 2019 at 11:01 am by Lee Smallwood Cassar
Online gaming firm LeoVegas Gaming Plc announced the introduction of its new proprietary multi-brand platform, which the group hopes would allow the launch of new and customised brands under the collective name of “Brands of Leo”, according to a press statement sent to Business Malta.
The company says that its “flexible and scalable proprietary technical platform” as well as “technology and economies of scale” are the supporting factors for their recently announced upgrade to its
LeoVegas hopes that recent progress will support the group’s expansion strategy and will contribute to the achievement of the financial targets for 2021 of €600m in revenue and €100m in EBITDA.
The upgrade of the platform started in 2018, and now the group hopes to strengthen its competitiveness in the iGaming market.
“LeoVegas’ goal has always been to market a global brand with a local touch — a successful strategy for leovegas.com that continues to take market shares. To meet needs that have emerged in certain markets, we now plan to launch more brands. These will be distinctly targeted to different customer groups — some of which are looking for niche functionality and others that are driven by the charm of novelty that a new and fresh brand offers,” says Gustaf Hagman, CEO of LeoVegas Group.
“The multibrand functionality that we have developed on our proprietary core platform will allow us to now launch new brands with a high level of flexibility and scalability. Our ambition is to raise the bar in the industry and always offer something new and unique while maintaining our overall focus on responsible gaming. We plan to launch the first brand shortly, and it will be exciting to follow its development,” the CEO adds.
LeoVegas Groups’ technology development is conducted in Sweden, while operations are based in Malta. LeoVegas offers casino, live casino and sports betting, and operates two global brands – LeoVegas and Royal Panda – as well as some local brands in the United Kingdom. The company’s shares are listed on Nasdaq Stockholm.