In a remarkable triumph, LeoVegas Group recently bagged three five-year business-to-business (B2B) licenses from the esteemed Swedish Gambling Authority. These licenses, which become active from July 1, 2023, signal a crucial milestone for the group as they aim to develop and distribute gaming software within the bustling Swedish iGaming landscape.
Fortifying the Swedish Gaming Arena
For anyone supplying software to certified operators, these licenses serve as a non-negotiable requirement. More significantly, they act as an essential shield against rogue gaming companies, thereby bolstering the integrity and safety of the Swedish gaming industry. With the acquisition of these licenses, LeoVegas Group is playing a crucial role in fortifying the Swedish gaming market.
Since its launch, the Group has experienced a meteoric rise, swiftly transitioning from a mere operator to a vital cog in the wheel of the iGaming industry's value chain. This rapid transformation has been fueled by their continuous foray into game and platform development.
The Swedish Gambling Act
According to the Swedish Gambling Act, which becomes effective from July 1, 2023, all entities engaged in the creation, supply, installation, or alteration of game software for online gaming must possess a valid license. With the recent acquisition of the B2B licenses, LeoVegas has well-positioned itself to comply with this mandate.
LeoVegas Group has already begun planning its next moves. The company’s gaming studio, Blue Guru Games, along with its two platforms, will be beneficiaries of these licenses. On May 1, the group declared their intent to acquire the game developer, Push Gaming, which already holds two B2B licenses from the Swedish Gambling Authority. This proposed acquisition, expected to conclude in the third quarter of 2023, symbolizes the group's commitment to expanding and consolidating its position in the Swedish gaming market. With these strategic moves, LeoVegas Group is ushering in a new era in Swedish iGaming.
Gustaf Hagman, CEO of LeoVegas Group, said:“We welcome the introduction of B2B licenses, a decisive step towards mitigating the impact of key gaming software being simultaneously provided to licensed operators and unlicensed operators targeting Swedish players. 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.”
Source: “LeoVegas Group granted three licenses to offer gaming software in Sweden”. LeoVegas Group. June 5, 2023.
