LeoVegas Group Strengthens its Presence in the Swedish iGaming Market

LeoVegas Group, a well-known Stockholm-based iGaming company that provides a variety of online casino, live casino, and sports wagering services, just reached a significant milestone. The Swedish Gambling Authority has granted the corporation three five-year licenses known as “B2B licenses.” These licenses allow Blue Guru Games, a game studio owned by LeoVegas Group, and two platforms to manufacture and distribute gaming software in Sweden. The licenses, which are slated to go into effect on July 1, 2023, will be critical in preventing unlicensed gaming enterprises from exerting influence in the Swedish gaming market.

Improving Regulatory Measures

1. Software Providers Must Have a License

Companies that manufacture, 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. The issuing of licenses guarantees that software suppliers are in conformity with regulatory criteria and helps to limit the actions of unlicensed operators in the Swedish gaming market.

2. An Important Step for Licensed Operators

Acquiring the required licenses is critical for licensed operators since it allows them to acquire gaming software from trustworthy and regulated vendors. This contributes to the integrity of the Swedish gaming sector by protecting players’ interests and encouraging responsible gambling practices.

The Growing Influence of LeoVegas Group

1. iGaming Industry Evolution

LeoVegas Group has established itself as a major participant in the online gambling market. The company’s commitment to quick growth has catapulted it from a mere operator to a key member in the iGaming value chain. The recent acquisition of three B2B licenses from the Swedish Gambling Authority indicates LeoVegas Group’s continuous advancement in the right way. Notably, these licenses were first given to Blue Guru Games and its two platforms.

2. Controlling Unlicensed Gaming

The freshly acquired B2B licenses are important, according to Gustaf Hagman, CEO of LeoVegas Group. He sees them as an important step towards reducing the influence of unauthorized gaming enterprises targeting Swedish players. Hagman emphasizes the importance of authorities focusing on suppliers that intentionally undermine the Swedish licensing system by aiding unlawful gaming operations.

Push Gaming acquisition broadens portfolio

On May 1, LeoVegas Group announced its intention to buy Push Gaming. Push Gaming, which is also licenced by the Swedish Gambling Authority and has two B2B licences, adds to LeoVegas Group’s foothold in the Swedish iGaming sector. The transaction is planned to close in the third quarter of 2023, expanding LeoVegas Group’s product portfolio.

The Significance of B2B Licensing

1. Regulatory Reforms

Swedish gaming licenses were introduced in 2019 as a critical reform aiming at regulating and overseeing gaming enterprises operating in Sweden. This reform not only strengthened marketing and consumer protection standards, but it also generated significant gambling tax money for the country.

2. Dealing with Unlicensed Operators

The B2B licensing mechanism is critical in limiting the usage of critical gaming software by unlicensed operators attempting to recruit Swedish gamers. The Swedish Gambling Authority can effectively control the activities of unlicensed operators and protect the interests of players by guaranteeing that licensed Swedish enterprises have exclusive access to approved software.

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