Top rated online casino LeoVegas has signed an agreement with the Maltese company World of Sportsbetting Ltd to buy all the shares through its subsidiary LeoVegas International Ltd. World of Sportsbetting Ltd has sports betting, and a casino license in the German region of Schleswig-Holstein and also has an approved application for a sports betting license under the Interstate Treaty on Gambling, Germany.
When a company holds an approved application for a sports betting license, it indicates that the company is allowed to promote sports betting all over Germany freely. LeoVegas is acquisition the company for around 2.6 million EUR. The entire process is expected to be completed in February 2018. Along with the acquisition, LeoVegas also signed German football and handball stars Lothar Matthäus and Stefan Kretzschmar as their new ambassadors.
Group CEO of LeoVegas, Gustaf Hagman, said that when they collaborate with other companies, the licenses not only provide more credibility but also help them get the most out of their market investments. He also added that the new ambassadors were chosen keeping in mind the German flavour. The new ambassadors give a local touch to the products, which is part of the strategy to enter new markets and take LeoVegas ahead.
Both Lothar Matthäus and Stefan Kretzschmar, the new ambassadors, are popular German sports figures, who are appropriate for promoting LeoVegas' services and taking the company ahead in Germany. While Matthäus is a five-time championship player and has been named world's best on several occasions, Kretzschmar is a popular former handball player with a charming personality.