Mobile-focused online gaming operator LeoVegas has applied for a a licence to offer casino and sports betting in its home country of Sweden.
The operator sees Sweden, which goes live as a licensed gaming market on January 1, as a key element in achieving its financial targets for the year 2020, which are to reach at least €600m in revenue and EBITDA of at least €100m.
“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,” said Gustaf Hagman, LeoVegas group CEO.
“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,” added Hagman.
Regulated markets continue to be a key part of the LeoVegas growth strategy. During Q2, the company’s net gaming revenue from regulated markets accounted for 39 per cent of total NGR.
LeoVegas also welcomes the more extensive guidelines for responsible gaming that regulated markets offer. The forthcoming licence requirements in Sweden are extensive with respect to responsible gaming. “LeoVegas has always had its focus on this area, and it is something LeoVegas welcomes,” the company said.
“The company’s responsible gaming platform, LeoSafePlay, is operated as a standalone business unit in order to create the best conditions for the next generation system of responsible gaming based on machine learning and artificial intelligence.”