LeoVegas Group Secures Three B2B Licenses to Develop Gaming Software in Sweden

The Swedish Gambling Authority has given three B2B licenses to LeoVegas Group, a leading player in the iGaming business. For the next five years, the group’s game studio, Blue Guru Games, and its two platforms will be able to develop and offer gaming software in Sweden. The licenses, which are slated to go into effect on July 1, 2023, are critical for delivering software to licensed operators and prohibiting illegal gaming companies from participating in the Swedish market.

The Evolution of the LeoVegas Group in the iGaming Industry

LeoVegas Group has witnessed remarkable expansion over the years, evolving from a lone operator to a key member in the iGaming industry’s value chain through game and platform development. Companies that create, provide, install, or modify game software for online gaming must obtain a license under the Swedish Gambling Act, which goes into effect on July 1, 2023.

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B2B Licenses are granted

The Swedish Gambling Authority has granted LeoVegas Group three five-year licenses known as “B2B licenses.” Blue Guru Games, the group’s gaming studio, as well as its two platforms (PAM), have received these licenses. The implementation of B2B licenses is an important step towards mitigating the impact of critical gaming software being delivered concurrently to licensed and unlicensed operators targeting Swedish gamers. These licenses are critical for improving channelization within the Swedish gaming business and guaranteeing regulatory compliance.

Gustaf Hagman, CEO of LeoVegas Group, emphasized the importance of B2B licenses in mitigating the presence of unlicensed operators in the Swedish market. He stated, “With the new regulations in force, it is now critical that authorities focus on those suppliers deliberately undermining the Swedish licensing system by facilitating unlicensed gaming.”

Reform of Swedish Gaming Licenses

Swedish gaming licenses were introduced in 2019 as a key change aiming at regulating and overseeing gaming enterprises operating in Sweden. This reform tightened marketing and consumer protection restrictions while securing large tax revenue from gambling activities. The Swedish Gambling Authority’s capacity to prohibit important gaming software designed for licensed Swedish enterprises from being utilized concurrently by unlicensed operators targeting Swedish players is critical to the success of the B2B licensing system.

Acquisition of Push Gaming

On May 1, LeoVegas Group announced its intention to buy Push Gaming, a game developer licensed by the Swedish Gambling Authority and holding two B2B licenses. The transaction is planned to close in the third quarter of 2023, further strengthening LeoVegas Group’s presence and capabilities in the Swedish gaming sector.

With the acquisition of these B2B licenses, LeoVegas Group underlines its commitment to regulatory compliance, ethical gaming practices, and contributing to the growth and sustainability of the Swedish gaming sector.

The post LeoVegas Group Secures Three B2B Licenses to Develop Gaming Software in Sweden appeared first on iGaming.org.

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