LeoVegas Applies for New Gaming Licenses
In August 2018, Swedish mobile gaming company LeoVegas confirmed reports it is seeking gambling licenses from two European markets.
Already licensed and regulated by the Malta Gaming Authority (MGA) and the UK Gambling Commission (UKGC), the 2017 International Gaming Awards Online Casino Operator of the Year has applied for new licenses in Spain and Sweden.
Request for a Swedish Spel Licens
LeoVegas has sent its application for a new gambling license in Sweden, where its headquarters can be located.
The Swedish government adopted earlier in April the bill named “A re-regulated gambling market” that introduced new gambling laws and licensing systems in the country. The overhaul meant that operators should apply for a new license from the Swedish Gambling Authority.
According to Philip Doftvik, LeoVegas’ head of corporate finance and investor relations, the company is the largest online and mobile casino gaming brand in the Scandinavian nation.
Furthermore, he said that Sweden is one of LeoVegas’ core gaming markets. Sweden represented around 24 percent of the company’s total net gaming revenue in the second quarter of 2018.
“LeoVegas is a company that operates in several regulated markets and thus has the right tools and knowledge to create sustainable and strong growth. Submitting an application in Sweden is something we’ve been looking forward to for a long time and welcomes the regulation with the focus sustainability and responsible gaming.”
Gustaf Hagman, LeoVegas CEO, added:
“While it has been known for some time that Sweden is introducing a local license system, it is very exciting to formally submit an application and is something we have been loving forward to for a long time. Sweden’s becoming a locally regulated market is a milestone for Sweden, the industry and LeoVegas. Now, for the first time, everyone can compete on equal terms in a regulated environment, where responsible gaming is a very important part.”
Hagman believes that LeoVegas has great opportunities to acquire more market shares and patrons on the Swedish market. According to him, the gaming company has the right devices and personnel to continue its growth in Sweden and beyond its borders.
Plans to Acquire Spanish Licencia de Juego
LeoVegas’ Doftvik has shared that the online casino game supplier plans to appeal for a Spanish gambling license after submitting an application for a license in Sweden. The top official has also revealed that LeoVegas aims to expand its network to other regulated markets across the world.
“Our strategy is to expand in regulated markets and markets that are soon to be regulated, new product categories and to carry out strategic and complementary acquisitions. This means that we constantly looking to enter new markets. For example, we believe Spain is particularly interesting.”
Should it decide to continue with its plans, LeoVegas must send its application for a gambling license to the Directorate General for the Regulation of Gambling—the body responsible for the regulation, authorization, and supervision of any gambling-related activity in Spain.