LeoVegas Expands into German Market with Acquisition of World of Sportsbetting Intent on sticking to its strategy of major expansion in the European online gambling market, LeoVegas AB announced this weekthat it had completed a deal that will secure its entrance into the German sports betting market. The Swedish listed online casino and affiliate operator told the industry that it had concluded the acquisition of the Maltese company World of Sportsbetting Ltd. The purchase set LeoVegas back EUR 2.6 million. The acquisition of World of Sportsbetting Ltd. is a significant one for LeoVegas as the Maltese group has several lucrative operating licenses in its possession. For starters, World of Sportsbetting holds a sports betting and casino license in Schleswig-Holstein. In addition, and perhaps more importantly, LeoVegas gets to market sports betting throughout Germany thanks to World of Sportsbetting having an application for a sports betting license that is approved in Hesse, under the German Interstate Treaty of Gambling. As part of its move into the German sports betting market, LeoVegas has also signed on a number of big names in the country’s sports world who will serve as ambassadors for the brand. These include football legend Lothar Matthaus who captained the West German team to victory in the 1990 FIFA World Cup and who was named European Footballer of the Year. He is also the only German to have ever received the FIFA World Player of the World award. LeoVegas has also signed on handball player Stefan Kretzschmar to be a brand ambassador. The chief executive officer of LeoVegas, Gustaf Hagman addressed the company’s plans to head into the German gambling market through the acquisition of World of Sportsbetting and the signing up of new brand ambassadors. "The licenses give increased credibility when we collaborate with, for example, media partners, which is important in order to get full effect on our market investments. Our new ambassadors also increase the local touch in our marketing, which we know creates loyalty and increased brand awareness,” he said. “We can now also be even more local on the product side and, especially, add important payment solutions that are important for the German market. This is line with our strategy to enter regulated markets and gives LeoVegas the best possible conditions to accelerate further in the German market." The news of the World of Sportsbetting acquisition comes hot on the heels of the release of LeoVegas’ announcement that it would be partnering with game developers in order to create new slots under a new LeoVegas Originals brand. The group has already released, in conjunction with NetEnt, the new WitchCraft Academy slot, which can be found at LeoVegas online casino.