Stockholm-listed LeoVegas has upgraded its platform to allow the operator to launch new customised brands in various markets under the collective name Brands of Leo.
The new multi-brand strategy follows an upgrade to LeoVegas’ proprietary technical platform, which enables the company to develop and expand the platform with more brands.
“LeoVegas’ goal has always been to market a global brand with a local touch – a successful strategy for leovegas.com that continues to take market shares,” said LeoVegas CEO Gustaf Hagman. “To meet needs that have emerged in certain markets, we now plan to launch more brands.
“These will be distinctly targeted to different customer groups – some of which are looking for niche functionality and others that are driven by the charm of novelty that a new and fresh brand offers.”
Brands of Leo is being led by a small entrepreneurial team within LeoVegas, which is in line with the company’s plans to increase the efficiency of its existing resources.
“The multi-brand functionality that we have developed on our proprietary core platform will allow us to now launch new brands with a high level of flexibility and scalability,” said Hagman. “Our ambition is to raise the bar in the industry and always offer something new and unique while maintaining our overall focus on responsible gaming. We plan to launch the first brand shortly, and it will be exciting to follow its development.”
Shares in LeoVegas AB (STO:LEO) were trading down marginally by 0.64 per cent at SEK31.14 per share in Stockholm Monday morning.