LeoVegas urges Norway to re-assess decision of iGaming payments plan
A Malta-based mobile gaming company and provider of online casino and sports betting services of Swedish origin, LeoVegas, has urged the Norwegian Gaming Authority to reconsider its decision to block iGaming payments.
The company said Norway’s move won’t be affecting its financial targets but asked Norway to consider the possibility of adopting the regulatory model in Sweden.
Gustaf Hagman, CEO of the firm, commented: “There are still no details about the proposal, but in all industries, one can expect that the conditions can change. Some markets are closed and others are opened and regulated. Norway currently has no local licensing system, and instead of prohibition, I hope Norway will move towards a local regulation similar to the one we see in Sweden.”
Norway’s government seems set on implementing measures to protect its state-owned Norsk Tipping gambling monopoly; these include ordering banks to stop processing payments to international operators.
The company, whose Norwegian market share is 4.6%, already took into account Norway’s proposals within the company’s strategic planning.