Online betting and gaming operator LeoVegas Gaming has introduced a new multi-brand platform, designed to further complement and diversify the group’s brand portfolio.

Launching new customised brands under the collective name ‘Brands of Leo,’ it’s stated that the venture “entails a competitive advantage,” and will “benefit from the strong position that LeoVegas has in the industry”.

Spearheaded by a small entrepreneurial team within the group, LeoVegas stresses that it forms part of the group’s plan to increase the efficiency of its existing resources, in addition to being “one of the keys to the group’s ability to launch more brands in a cost efficient manner”.

Brands of Leo forms part of LeoVegas’ expansion strategy, with it hoped that it will contribute to the achievement of the financial targets for 2021 of €600m in revenue and EBITDA of €100m.

This follows an upgrade of the platform that was conducted in 2018, enabling the group to develop and expand the platform with more brands.

Gustaf Hagman, LeoVegas’ group chief executive officer, said of the new launch: “LeoVegas’ goal has always been to market a global brand with a local touch, a successful strategy for that continues to take market shares.

“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.

“The multibrand 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.

“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.”