LeoVegas has applied for a Swedish casino and sports betting license in preparation for the market becoming regulated market in January 2019.
LeoVegas has applied for a Swedish license for casino and sports betting in preparation for the country becoming a regulated market on 1st January 2019.
The iGaming giant has big plans for its home market, it being central to the company’s plans to achieve at least €600 million in revenue and an EBITDA of €100 million by the year 2020.
With 39% of Net Gaming Revenue (NGR) coming from regulated markets during the second quarter, LeoVegas is keen to develop its operations in such markets. Regulated markets, according to the company, give it more opportunities to provide localised content, the ability to offer more payment choices, a better customer experience, and more marketing flexibility.
In addition, the newly regulated Swedish market will provide greater emphasis on responsible gaming, which LeoVegas fully supports – as illustrated by the central register, and the company’s own responsible gaming platform, LeoSafePlay, based on machine learning and AI.
Gustaf Hagman, Group CEO, said:
“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’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.
“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.”