On January 1 this year, Sweden introduced a licensing system with the possibility for gaming companies to obtain a license for up to five years.
LeoVegas was among the first online gambling operators to have its license approved by the Swedish Gambling Authority, Spelinspektionen, however, only for two years. The company received its license in November 2018 as Sweden was gearing up preparations for the enforcement of its new gambling law, which became effective January 1, 2019.
Spelinspektionen had said that it awarded LeoVegas a two-year license (shorter than the rest of the operators) because the company had been fined in the United Kingdom for a series of failures.
But the firm appealed Spelinspektionen’s decision in the Administrative Court in Linköping, with the hope of extending such term to five years.
As a result, the decision has now been reconsidered with the result that LeoVegas gaming license is extended to five years.
"It feels great and right that we got our license extended to five years. Following our efforts within compliance and experience from other regulated markets, the decision from the Administrative Court is an affirmation that we conduct a professional and responsible operation,” comments Gustaf Hagman, Group CEO. “The extended license gives us confidence in the Swedish licensing system and the Swedish market where we continue to take market shares. We see that several smaller players have already left the Swedish market and at the same time marketing has declined since the turn of the year."