Aug 20 / 2018
Latest News / Casino & Gambling

LeoVegas applies for Swedish gambling licence

LeoVegas submits application for regulated market to-be

On the first of January, 2019, Sweden will become a licensed gaming market. LeoVegas has jumped onto the bandwagon and submitted its application to obtain a licence for casino and sports betting.

This certainly abides by LeoVegas’ expansion strategy and is one of the moves in the direction of achieving the financial targets for the year 2020. These targets are to reach at least EUR 600m in revenue and EBITDA of at least EUR 100m.

Gustaf Hagman, the Group CEO, commented: “While it has been known for some time that Sweden is introducing a local licence system, it is very exciting to formally submit an application and is something we have been looking forward to for a long time. Sweden 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. We believe we have great opportunities to continue gaining market shares in the Swedish market. LeoVegas is a company that operates on several regulated markets and thus has the right tools and knowledge to create sustainable and strong growth.”

Regulated markets and their potential

During the second quarter, LeoVegas’ Net Gaming Revenue (NGR) from regulated markets accounted for 39% of total NGR. Regulated markets offer more significant chances to localise the offering and be more relevant. This is especially true for marketing, as more marketing channels are opened up, but also for the customer experience, where – for example – more payment methods become available.

Responsible gaming – LeoSafePlay

A regulated market also has a greater number and more extensive guidelines for responsible gaming, a factor that LeoVegas regards as positive. The central register that will be implemented will function as an important resource for responsible gaming.

SiGMA iGaming LeoVegas applies for Swedish gambling licence
“Sweden becoming a locally regulated market is a milestone for Sweden, the industry and LeoVegas.”

The forthcoming licence requirements in Sweden are extensive in terms of responsible gaming. LeoVegas has always maintained its focus on this area, and it is something the company welcomes. The Company’s responsible gaming platform, LeoSafePlay, operates as a standalone business unit in order to provide the best conditions for the next generation system of responsible gaming based on machine learning and artificial intelligence.

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