LeoVegas has long envisioned the idea that one day they would be the leading brand when it came to e-sports betting and online gambling, and it looks like they have taken one step closer to reaching that reality with the announcement that the Swedish Gambling Authority have issued a five year license to open up an online casino and sports betting site. This site launched Tuesday under the name pixel.bet.
As a part of the announcement, Pixel Digital Ltd was granted the license to begin the betting operations. This is actually the second license that the LeoVegas group has been granted by the Swedish government.
In the statement, it was made clear that dominating the live casino and online gambling venues is the goal for pixel.bet. This, according to the company, will begin by focusing on Sweden and other Nordic areas before expanding across the globe.
Speaking at a press conference, Eirik Kristiansen, the CEO at Pixel Digital, explained that the license gives the company the opportunity to open up the esports betting market to those in Sweden who have a passion for the gaming tournaments. He added that this opportunity will help to “position us for continued expansion internationally.”
LeoVegas has wasted no time in using their new acquisition to further their goals. In September 2018, the company acquired pixel.bet, purchasing 51% of the stock of the Malta-based company. It was at that time that the company determined that the Nordic markets would be the focus of their initial endeavors. That became a reality on Tuesday.
It is clear that LeoVegas wants to get in on the increasingly popular esports betting. With esports tournament attendance growing rapidly, the amount wagered on the activity reached nearly $7 billion last year and is expected to be nearly $14 billion by 2020.
Other establishments, including Pinnacle, gained a head start on LeoVegas by being the first to offer online betting for these tournaments. However, the acquisition of pixel.bet and the agreement with the Swedish government now shows that LeoVegas is stepping up their game.
The company has also increased its online sports betting profile as well. Last month they officially relaunched BetUK. This came after acquiring the company in January of this year for €65 million.