LeoVegas relaunches sports betting brand Expekt in Denmark
LeoVegas Group has brought sports betting brand Expekt back to the Danish market after a 10-year absence.
The launch of nye expekt, which translates to “the new expekt”, in Denmark is part of the group’s strategy to launch its brands in new markets and grow its sports betting vertical.
“Expekt is one of the strongest brands in the Nordics, and we’re thrilled to be relaunching nye expekt in Denmark with a modern app and competitive odds,” said LeoVegas CEO Gustaf Hagman.
“We have a clear strategy to expand by increasing the number of brands and markets where we’re present, and we see great potential for growth in sports betting,” he added.
Acquired from Betclic
Expekt, which was initially launched in 1999, quickly established itself as a major contender in the sports betting industry in northern Europe.
In late 2009, Betclic Group acquired Expekt and then sold it to LeoVegas in 2021 for €5m.At the time of the acquisition, Hagman said: “I can remember back in the early 2000s when everyone played on Expekt. After a few years on the sidelines, we will now restore Expekt to its former glory as the leading sports betting brand.”
In 2020, Expekt generated €6.9m in revenue, with 91% of that amount coming from the Swedish market.
The brand exited the Danish market ahead of LeoVegas’ acquisition.
Denmark was among the first Scandinavian nations to introduce a licensing model for the iGaming industry in 2012.
LeoVegas holds both an online casino and a sports betting licence from the Danish Gambling Authority.
Although LeoVegas today is part of MGM Resorts, the Nordic region has remained an important market for the company.
In Q4 2022, LeoVegas reported revenue of €99.5m, with the Nordics accounting for €52m, Rest of Europe contributing €28.8m, and Rest of the World generating €17m.