LeoVegas among first to receive gambling license in Sweden
30 November 2018
(PRESS RELEASE) -- Today it was announced that LeoVegas
subsidiary LeoVegas Gaming Plc is among the first to have its application approved and the right to conduct casino and sports betting online. Starting 1 January 2019, only companies that have been granted a license will have the right to conduct gambling activities in Sweden.
"Finally - we have been waiting for this day for a long time and is a milestone in LeoVegas history! We have worked hard with the extensive application process and I am very proud of our work. LeoVegas currently has gaming licenses in several countries and has thus broad experience operating in a regulated environment”.
“In recent years we have invested substantially in responsible gaming and LeoSafePlay, an area that will continue to make up a fundamental part of our operations. Being among the first operators to receive a gambling license is a quality seal and affirms LeoVegas as a leading, long-term and serious actor in the industry. LeoVegas is the most well-known online casino brand in Sweden. We believe we offer the best mobile gaming experience. This combination is hard to beat and gives us a strong position in our home market where we continue to grow,” comments Gustaf Hagman, LeoVegas’ Group CEO.
LeoVegas’ expansion strategy is to focus on regulated markets and markets in the process of being regulated. Today 35% of revenue is generated from regulated markets (Q3 2018). With Sweden as a regulated market, this figure is expected to be approximately 60% in early 2019. Sweden is an important market for LeoVegas in achieving its financial targets for 2020.