LeoVegas Group has recently received a trio of business–to–business licenses from the Spelinspektionen, entitling them to create and supply gaming software in Sweden.
The licenses have a 5–year life and have been acquired by Blue Guru Games, which is a game developer, and 2 other platforms. Starting from 1 July 2023, these licenses will allow LeoVegas Group to establish partnerships with casinos and work on compliance by aiding in the prevention of unlicensed gaming entities. This development is a significant stride towards bolstering channelization within the local market.
LeoVegas Group has witnessed a remarkable increase since its inception, transitioning from a casino to a well–established and trustworthy company. According to the Swedish Gambling Act, beginning on July 1, of the current year, companies engaged in manufacturing, providing, installing, or modifying game software for online gaming must hold a valid license.
Gustaf Hagman, Chief Executive of LeoVegas Group, mentioned in his speech:
We value the B2B licensing as a crucial factor for solving many problems of gaming platforms to be accessible for both licensed and unlicensed casinos. Along with new rules, that came into force recently, it will be needed that authorities concentrate their attention on providers that undermine the Swedish licensing system, leading to unauthorized gaming. By doing it, they will be one step ahead of protecting the local gambling market.
2019 saw the introduction of Swedish gaming licenses, which resulted in a substantial reform targeted at policing and monitoring gaming businesses operating within Sweden. transformation not only strengthened regulations related to marketing and user security but also guaranteed substantial tax profits from gambling activities. The efficient performance of the licensing system depends on the Spelinspektionen on a large scale. The authority’s capabilities in preventing their licenses to not be used by unauthorized casinos are strong.
On May 1, of this year, LeoVegas Group unveiled its plans to buy Push Gaming. The latter is a well–known game studio that holds 2 licenses, including one from SGA. These new updates are scheduled to be completed by the end of this year.