- Swedish company snaps up online casino operator
- LeoVegas aims to be “number one in mobile casinos”
Online casino and gaming company LeoVegas has taken a step towards its goal of being number one in mobile gaming, buying up Winga.it in a $6.1million deal.
LeoVegas has purchased 100% of Italian online casino operator Winga.it – its first-ever acquisition. Winga.it previously belonged to Finnish company PAF. Under PAF, its revenues appear to have decreased – going from $10million in 2014 to $8million in 2016. LeoVegas has said it has identified a “number of factors” to reverse that trend.
What is Winga.it?
Winga.it is a Milan-based, fully licensed online casino operator, offering a complete range of gambling products to Italian customers. The company, which currently has 33 employees, makes about half of its money from live casino products: including a unique interactive setup which is broadcast live on Sky Italia.
LeoVegas intends to “gradually introduce” its own brand into the Italian market, so it’s possible that the Winga brand will be eventually eclipsed. But for now, it could benefit from LeoVegas’ previously successful marketing strategies.
LeoVegas – striving for the top
LeoVegas has a simple goal: it wants to be “number one in mobile gaming”. It’s certainly making strides in that direction. It already hosts games from some of the leading online providers, including IGT and Yggdrasil.
LeoVegas is currently garnering plenty of attention in the international gaming industry for its creative advertising tactics and substantial financial success.
It recently saw a UK ad named “Creative Work of the Week” by marketing publication The Drum, and took an unusual path by sponsoring rugby union club the Leicester Tigers.
Meanwhile, the numbers are adding up: Q4 2016 saw LeoVegas net a superb 58% quarter-on-quarter increase – and it finished 2016 with a total revenue of €141.4 million, a year-on-year increase of 70%.
The acquisition of Winga.it means that LeoVegas now holds licenses in Malta, the UK, Denmark, Ireland and Italy. Italy is Europe’s largest regulated market and a big opportunity for LeoVegas. The Swedish company’s plan is to continue expanding in regulated markets – or those in the process of being regulated. It is hoping for “rapid expansion” in Italy and is confident it’ll get there.
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