Spillemyndigheden Grant LeoVegas a 5-Year License Renewal

It has been revealed that the Danish Gaming Authority have extended the operating license of LeoVegas until 2026.

The Danish online gambling laws are regulated by Spillemyndigheden and have been applied to online sportsbooks and casinos since 2018.

Gustaf

Our Danish launch was one of our most successful, and the fact that we are now one of the largest operators in this market is testament to that. I am thrilled that LeoVegas can continue to offer our customers in Denmark the greatest gaming experience as a responsible and sustainable operator.

Gustaf HagmanCEO of LeoVegas

LeoVegas already hold licenses across large parts of Europe, including Italy, Spain, the UK, and Ireland, and the extension to the Danish license was seen to be critical to the expansion plans of LeoVegas.

Across the board in Denmark, over the course of 2021, online gambling operators have agreed to follow a new code of conduct which has been put in place by Spillemyndigheden.

LeoVegas announced last month that they were experiencing a negative market performance due to the re-regulation in Germany, and this was despite encouraging growth in other areas of the market.

It was also noted that results in Sweden are highly encouraging whilst at the same time, the company experienced record revenues in the North American market.

For Q2 of 2012, LeoVegas reported revenue of €96.8m, a 13% year-on-year drop from €110.7m, with EBITDA down 54% from €10.6m.