On January 1, 2019, Sweden turns into a certified gaming marketplace and LeoVegas has submitted its software to secure a license for internet casino and sports betting. That is consistent with LeoVegas’ growth technique and is among the steps towards attaining the economic targets for the entire year 2020, which are to attain at least EUR 600 million in income and EBITDA of at least EUR 100 m.
“Although it has been known for quite a while that Sweden is introducing an area license program, it is extremely exciting to formally fill out an application and is something we’ve been looking forward to for a long period. Sweden’s learning to be a locally regulated market is usually a milestone for Sweden, the market, and LeoVegas. Right now, for the very first time, everyone can compete on equivalent conditions in a regulated environment, where responsible video gaming is an essential part. We believe we’ve great opportunities to keep gaining market shares in the Swedish marketplace. LeoVegas is an organization that operates on many regulated markets and therefore gets the right tools and understanding to create sustainable and solid growth,” comments Gustaf Hagman, Group CEO.
Regulated markets and their potential
Through the second quarter, LeoVegas’ Net Game playing Income (NGR) from regulated market segments accounted intended for 39% of total NGR. Regulated markets provide higher possibilities to localize the providing and be even more relevant. This is also true for advertising, as more marketing stations are exposed, but also for the client experience, where – for instance – more payment strategies become available.
Responsible gaming – LeoSafePlay
A regulated marketplace also has a larger number and more intensive guidelines for responsible gaming, which LeoVegas sights as positive. Most importantly, the central register that’ll be applied will serve as a very important resource for responsible video gaming.
The forthcoming license requirements in Sweden are comprehensive regarding responsible gaming. LeoVegas offers always had its concentrate on this area, in fact, it is something LeoVegas welcomes. The Company’s responsible gaming system, LeoSafePlay, is managed as a standalone business device to be able to create the very best conditions for another generation system of accountable gaming predicated on machine learning and artificial intelligence.
About the LeoVegas mobile gaming group
LeoVegas’ passion is “At the forefront into the mobile potential”. LeoVegas is usually Sweden’s premier GameTech organization and reaches the forefront of using state-of-the-art technology for cellular gaming. In 2017 the business passed the threshold to be categorized as an unicorn, i.e., a start-up valued at a lot more than USD 1 billion. A big part of the success could be credited to an intense product and technology concentrate in conjunction with effective and data-powered marketing. Technology advancement is carried out in Sweden, while procedures are located in Malta. LeoVegas gives casino, live gambling establishment and sports gambling, and operates two global and scalable brands – LeoVegas and Royal Panda – as well as a regional, multibrand operator collectively known as Rocket X. The company’s shares are detailed on Nasdaq Stockholm.