LeoVegas has announced its intention to pursue a Spanish licence after submitting an application for a new Swedish licence.
LeoVegas plans to obtain a licence that covers casino and sports betting in Sweden which recently started an application process ahead of changes to national gambling laws.
Swedish regulator Lotteriinspektionen received over 20 applications on the first day of the process. The re-regulated market will open up on the New Year’s Day 2019.
Head of corporate finance and investor relations at LeoVegas Philip Doftvik notes that LeoVegas welcomes regulation in Sweden and that it has been looking forward to applying for a licence in the country.
Philip Doftvik said:
“Sweden is one of our core markets and we are the biggest brand for online and mobile casino in Sweden.
“Sweden is one of our core markets and we are the biggest brand for online and mobile casino in Sweden.”
“In Q2, Sweden stood for 24% of our total net gaming revenue. Sweden is an important market for LeoVegas and we believe we have great opportunities to continue gaining market share in the Swedish market.
“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.”
Doftvik also revealed the company’s broader plans regarding the company’s expansion as it could look at applying for a Spanish licence as part of its ongoing growth plans.
“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.”