LeoVegas overturns its Swedish license limit

8 Nov 2019

LeoVegas has restored its five-year Swedish gambling license, since it managed to win its appeal against the country’s gaming regulator Spelinspektionen.

The administration of the Stockholm-based bookmaker, had challenged the decision taken by Spelinspektionen to decrease its Swedish license to a two-year period due to some UK advertising violations that it committed.

As a matter of fact, LeoVegas administration filed a formal challenge with the Administrative Court of Linkoping in order to dispute Spelinspektionen’s aforementioned decision. They actually stated that foreign regulatory inconsistencies should have no influence on an operator's domestic license conditions.

In addition to that, they pointed out that their UK marketing inconsistencies dated back to 2016; nonetheless, made it clear that they had put into practice all UK Gambling Commission’s (UKGC) demands and fulfilled their licensee obligations for the UK market.

Vala Karimi, General Counsel of LeoVegas, mentioned that a fully regulated market has more advanced requirements when it comes to responsible gambling with a strong player protection focus. She added that in LeoVegas they welcomed the regulation even before it was officially introduced and that they see the court’s decision as extremely positive, since it gives them the freedom to keep on focusing on compliance.

In its latest update, the operator’s administration highlighted its dedication to responsible gaming as a Swedish licensee, as they company has launched a separate business unit called LeoSafePlay aiming to promote safer gambling in an innovative way.

Gustaf Hagman, Group CEO of LeoVegas, commented regarding the latest developments that the extended license gives them the much-needed peace of mind to keep on operating and evolving in the Swedish market and constitutes a proof of professionalism and regulatory compliance from their side.

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LeoVegas Sport is slightly new in the sportsbook industry, but they already knew that they had to follow the steps of their successful casino heritage. They mainly target the Nordic market, but I would like to see them broaden their reach even more. The bookie's impressive improvement is shown through the doubling of its depositors within a 12month time frame, reaching 200.000 active customers. The odds, especially in Premier League, can be compared to Bet365's and as it was expected, the mobile services are their powerhouse, while Kambi's presence as the creator of the platform guarantees stability. LeoVegas will have to add more payment methods to be more flexible and speed up the slow withdrawal process. Although they have to work more on the live betting part, they are a book that's definitely a keeper.

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