Swedish Regulator Extends Licenses, LeoVegas Among First Licensees With Five-year Term

Sweden_s-Spelinspektionen-Launches-New-Anti-Money-Laundering-Reporting-SchemeThe Swedish regulator introduced a licensing system on January 1st this year. This licensing system allows gaming companies to obtain a license for up to five years.

LeoVegas is among the first companies to have its license approved and receive a two-year license. Swedish regulators have now decided to extend the licenses and as a result of this is that the operator’s gaming license is now extended to five years.

 representatives say that it is a good thing that they’ve received an extension to their license. They are glad that the Swedish regulators see them as a professional and responsible operation. This extended license gives them confidence in the Swedish licensing system and their market.

“It feels great and right that we got our license extended to five years. Following our efforts within compliance and experience from other regulated markets, the decision from the Administrative Court is an affirmation that we conduct a professional and responsible operation,” said Gustaf Hagman, Group CEO.

“The extended license gives us confidence in the Swedish licensing system and the Swedish market where we continue to take market shares. We see that several smaller players have already left the Swedish market and at the same time marketing has declined since the turn of the year,” he added.

About the Operator

LeoVegas offers a fantastic selection of live casino and casino games. For those who enjoy live content, it offers a large variety of games available on the market. The casino was established in 2012 in Sweden.

The operator offers mobile casino games. In 2018, the company was awarded the Brand of the Year at the EGR Marketing and Innovation Awards and Operator of the Year at EGR Nordics Awards 2018. In 2017, it was awarded Online Casino Operator of the Year at the International Gaming Awards and in 2016, the company was awarded Mobile Operator of the Year at EGR Nordic Awards 2016.

The awards granted to the company show its quality and it is a proud sponsor of Leicaster Tigers. The casino holds licenses from the Malta Gaming Association, and the United Kingdom  Gambling Commission.

More on the Regulator

The regulator in Sweden is introducing this license system for gaming to ensure that gambling activities. Its goal is to create a healthy and secure environment for players. They aim is to prevent illegal and criminal activities. Gaming operators pay taxes based on their revenues, which comes down to 18% of revenue. The gaming industry paid a tax total of SEK 1.84 billion to the government’s treasury.

Source: Miller, George. “LeoVegas Swedish gaming license extended to five years”. European Gaming. October 28, 2019.