LeoVegas Blasts off in UK Market With Rocket X
The online gambling group LeoVegas is now increasing its efforts to gain a bigger share of UK casinos. With a recent acquisition of Intellectual Property & Software Limited worth £65 million, LeoVegas is focusing on internet-based casinos and other forms of digital gambling within the UK. This deal was announced back in January of 2018 and has now been completed.
All the brands and assets operated under the Intellectual Property & Software Limited umbrella are now being form into a collective offering. LeoVegas announced that the UK-centric online gambling portfolio will be known as Rocket X. The plan essentially combines the brand power of LeoVegas with the diverse gaming selection of Rocket X.
The move is a strategy that puts emphasis on multiple brands and numerous products for the UK online casino market. The United Kingdom is a saturated market for gambling providers and LeoVegas hopes to stay ahead of the curve with its new Rocket X strategy.
Having a focused effort is a necessity for the LeoVegas group, considering the size of the market involved. The gambling revenue generated across Great Britain totals over £13.8 billion annually, with 34 percent of the pie going to gaming based on the internet. In addition, Great Britain has 147 casinos on land and more than 176,000 gambling machines. The industry employees over 100,000 individuals.
The UK is full of potential for LeoVegas’ new venture, but it is heavily regulated as well. All licensing for operations within Britain and other parts of the United Kingdom must be doled out via the UK Gambling Commission. This regulatory agency is considered a benchmark among it peers and has been in recent news over hefty fines passed out over deceptive bonus practices.
Aside from its various subsidiaries, the group LeoVegas AB has its own flagship online casino that is available. The online casino is a major hit among global players, including those residing in the United Kingdom. Its popularity is due in part to the hundreds of games it has on tap, in addition to an award-winning mobile version that can be played on a phone or tablet. LeoVegas online casino supports numerous UK and international payment options.
Through the LeoVegas group, many independent software firms and betting operators are able to gain exposure to the worldwide market. One such developer, Authentic Gaming, recently partnered with Playtech to distribute its games through the entire portfolio of online casinos and other betting sites.