LeoVegas has set its sights on the German gaming market after receiving authorisation from the nation’s Federal Gambling Authority, the GGL, to operate under the interstate gambling regime.
The online gambling group announced this morning (Friday 3 March_ that it had received the appropriate licensing to “offer and market slots nationwide across Germany” from the GGL.
The Stockholm-listed company’s announcement read: “Gemeinsamen Glücksspielbehörde der Länder (GGL), has granted LVSports Limited, an entity of LeoVegas Group, a new gaming licence, enabling the Group to start offering virtual slot machines across all sixteen German states and conduct nationwide marketing.”
Governing the ‘GlüNeuRStv’ regime, the GGL took control of governing Germany’s policy development, licensing controls, market monitoring, disputes and operator conduct on January 1, 2023.
The regulator started its proceedings by declaring that it would process a backlog of 50 operators that had applied for licences to offer igaming products in Germany.
These applications were issued under the authority of Saxony Anhalt, which served as the licensing authority for online casinos during the GlüNeuRStv’s transition phase.
Moreover, the GGL outlined that it has approved 600 permits for individual games, out of a total 3,500, as each slot release or instant game must go through an approval process to assure that they cater to the GGL’s regulations before they are provided to player bases across the nation.
The GGL has also been pressured by German operators to revise the GlüNeuRStv’s €1 stake limit on slot titles as well as its 5.3 per cent turnover tax on online slots and poker stakes.
Following its GGL licence announcement, LeoVegas stated: “This is a significant opportunity for the Group that provides access to Europe’s largest igaming market.”
Group CEO Gustaf Hagman added: ”We are looking forward to launching LeoVegas in Germany under the new nationwide licence. With our track record of regulated markets, we will ensure the greatest igaming experience with a high level of consumer protection.”