LeoVegas eyes Spain licence after Sweden application

Sweden represented 24% of net gaming revenue for the firm in Q2


LeoVegas has revealed plans to pursue a licence in Spain after submitting an application for a new licence in Sweden.

The company is seeking to obtain a licence that covers casino and sports betting in Sweden, which recently launched an application process ahead of changes to national gambling laws.

Swedish regulator Lotteriinspektionen received 22 applications on the first day of the process, and this number has since increased with the likes of Kindred and now LeoVegas entering the fray. The re-regulated market will open up on January 1, 2019.

Philip Doftvik, head of corporate finance and investor relations at LeoVegas, told iGamingBusiness.com that the company “welcomes” regulation in Sweden and that it has been “looking forward” to applying for a licence in the country for some time.

“Sweden is one of our core markets and we are the biggest brand for online and mobile casino in Sweden,” Doftvik told iGamingBusiness.com.

“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.”

Doftvik added: “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 outlined the company’s broader plans, revealing that LeoVegas could look at applying for a licence in Spain 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,” he said.

“This means that we constantly looking to enter new markets. For example, we believe Spain is particularly interesting.”