Stockholm-listed operator LeoVegas has launched a new SBTech-powered sportsbook for its brand.

Operated by the company’s UK-facing subsidiary Rocket X, BetUK was acquired by LeoVegas from Intellectual Property & Software (IPS) in March of this year.

BetUK will be LeoVegas Group's first brand with sports betting as the primary focus, with the operator tying up a shirt sponsorship deal with Championship side Swansea City AFC earlier this year ahead of the launch.

"Since its start LeoVegas has adhered to a successful, global brand strategy,” said LeoVegas chief executive Gustaf Hagman. “In larger markets this can be complemented with a local multi-brand strategy. The UK market is very large and mature, which creates scope to work with more brands that attract different types of customers.

“We are now taking the next step and launching a brand that has sports betting as its primary focus. is a premium domain with a very strong link profile that ranks high on Google and other search engines. It is a very exciting move, and I am convinced that it will be a success with strong and sustainable growth.”

In related news LeoVegas last week launched the e-identification system BankID for customer registration and login in Sweden.

“With BankID we are now offering the best product on the market in Sweden,” Hagman said. “For new and existing customers we provide a very smooth and simple log-in and registration experience while giving them access to the market’s broadest offering of casino games and sports betting.

“We also know that fast payments are very important, which is why our customers can see their account balances within minutes of a withdrawal. We are consolidating our position as the leading GameTech company, and I look forward to finding additional markets in which we can launch similar, local e-identification systems.”

Shares in LeoVegas AB (STO:LEO) were trading up 1.7 per cent at SEK62.90 per share in Stockholm Thursday morning.