Almost a month after receiving an iGaming license for its home market and Swedish iGaming operator, LeoVegas AB, has now announced the launch of its Brands of Leo proprietary multi-brand platform campaign.
Diversification drive:
The Stockholm-headquartered firm used an official press release to declare that the new initiative is due to be managed by ‘a small entrepreneurial team’ and will enable it to ‘further complement and diversify’ its existing portfolio of online casinos while also benefiting from economies of scale.
Bountiful brands:
LeoVegas is already responsible for multiple iGaming sites including RoyalPanda.com, BetUK.com, SlotBoss.co.uk, Pixel.bet, Bingos.co.uk and 21.co.uk while last year saw it improve the search engine optimization opportunities for its flagship LeoVegas.com domain via the launch of an updated front-end platform. The operator stated that its latest innovation is set to see it premiere further customized brands under the collective Brands of Leo umbrella and that these will benefit from ‘the strong position’ it already holds in the industry.
Providing a ‘local touch’:
Gustaf Hagman, Chief Executive Officer for LeoVegas AB, proclaimed that his firm has always attempted to ‘market a global brand with a local touch’ and that the Brands of Leo scheme will enable his firm to debut even more sites ‘to meet needs that have emerged in certain markets.’
Hagman’s statement read…
“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.”
Financial targets:
Hagman detailed that he anticipates the Brands of Leo innovation will play a significant role in helping his firm to achieve its stated aim of achieving annual revenues of €600 million ($679.89 million) alongside at least €100 million ($113.29 million) in twelve-month earnings before interest, tax, depreciation and amortization by 2021.
Hagman’s statement read…
“The multi-brand functionality that we have developed on our proprietary core platform will allow us to now launch new brands with high levels 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.”