LeoVegas granted German gambling authority licence

LeoVegas announced that it has been granted a licence from German gambling regulator, Gemeinsame Glücksspielbeh?rde der L?nder (GGL). The company advised investors that it will offer market slots nationwide across Germany.

Gemeinsamen Glücksspielbeh?rde der L?nder (GGL), has granted LVSports Limited, an entity of LeoVegas Group, a new gaming license, enabling the Group to start offering virtual slot machines across all sixteen German states and conduct nationwide marketing.” – LeoVegas announcement

LeoVegas added that the licence in the German jurisdiction is a significant milestone for the company as it will provide access to the largest iGaming market in Europe.

We are looking forward to launching LeoVegas in Germany under the new nationwide license. With our track record of regulated markets, we will ensure the greatest iGaming experience with a high level of consumer protection.” – Gustaf Hagman, Group CEO of LeoVegas

Gemeinsame Glücksspielbeh?rde der L?nder

Gemeinsame Glücksspielbeh?rde der L?nder (GGL) is the fairly newly-empowered gambling authority for the Federal Republic of Germany. It regulates the transnational gambling market.? It was established in January this year and approves stakeholders to operate in a regulated market whilst ensuring support for responsible gaming to users against gambling addiction. Previously gambling regulation was the responsibility of a number of government departments.

The newly appointed regulator confirmed that it was processing a backlog of over 50 applications from operators for licences to operate online slot games and poker licences.??GGL has also approved 600 permits out of a backlog of? 3,500 for individual games to service online slot games and poker licences. There is pressure on GGL from operators at the moment to revise the turnover tax of 5.3 percent on online slots and poker stakes. Operators also wish GGL to review its ?€1 limit on slot stakes.

LeoVegas

Swedish gaming company provides online casino and sports betting services including table games, video slots, jackpots, poker and live betting on a global scale. The company is a subsidiary of MGM resorts.? Founded in 2012 by Gustaf Hagman and Robin Ramm-Ericson, the company employs over 900 people. It trades on NASDAQ Stockholm as LEO.? LeoVegas has expanded very quickly with its Malta office being pivotal in the group’s global expansion.

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