STOCKHOLM, March 15, 2019 /PRNewswire/ -- To further complement and diversify the Group's brand portfolio, LeoVegas Gaming Plc is now introducing a proprietary multibrand platform that will allow the Group to launch new, customised brands under the collective name "Brands of Leo".
"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," comments Gustaf Hagman, LeoVegas' Group CEO.
"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."
Technology and economies of scale enabling next step in multibrand strategy
The multibrand strategy and Brands of Leo are made possible by LeoVegas' flexible and scalable proprietary technical platform. The upgrade of the platform that was conducted in 2018 was part of this strategy and now enables the Group to develop and expand the platform with more brands.
The venture entails a competitive advantage, and new brands will benefit from the strong position that LeoVegas has in the industry. This in the form of credibility and history in relation to suppliers - both in terms of cooperation as well as to contract negotiations. Brands of Leo is being spearheaded by a small entrepreneurial team within the Group, which is in line with LeoVegas' plan to increase the efficiency of its existing resources. The economies of scale are distinct with respect to knowledge, technology and personnel, and are one of the keys to the Group's ability to launch more brands in a cost efficient manner.
The multibrand strategy and Brands of Leo are part of LeoVegas' expansion strategy and will contribute to the achievement of the financial targets for 2021 of EUR 600 m in revenue and EUR 100 m in EBITDA.
For further information, please contact:
President and CEO
+46 (0) 8 410 367 66
Director of Investor Relations and Corporate Finance:
+46 73 512 07 20
About the LeoVegas mobile gaming group
LeoVegas' passion is "Leading the way into the mobile future". LeoVegas is the premier GameTech company and is at the forefront of using state-of-the-art technology for mobile gaming. A large part of this success can be credited to an extreme product and technology focus coupled with effective and data-driven marketing. Technology development is conducted in Sweden, while operations are based in Malta. LeoVegas offers casino, live casino and sports betting, and operates two global and scalable brands – LeoVegas and Royal Panda – as well as a number of local brands in the UK. The company's shares are listed on Nasdaq Stockholm. For more about LeoVegas, visit www.leovegasgroup.com.
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LeoVegas launches proprietary multibrand platform
SOURCE LeoVegas Mobile Gaming Group