Under the new licence, the group will be able to offer and market virtual slots nationwide, in what LeoVegas described as “one of Europe’s largest iGaming markets.”
LVSports Limited, an entity of LeoVegas Group, has been granted the gaming licence by the German Federal States’ Joint Gambling Authority, Gemeinsamen Glücksspielbehörde der Länder (GGL).
It enables the group to start offering virtual slot machines across all 16 German states, as well as conduct marketing across the nation. LeoVegas added that the new licence represents a significant opportunity for the company.
“We are looking forward to launching LeoVegas in Germany under the new nationwide licence,” said LeoVegas Group CEO Gustaf Hagman. “With our track record of regulated markets, we will ensure the greatest iGaming experience with a high level of consumer protection.”
In November 2022, LeoVegas published its Q3 report for 2022, which showed a revenue decline of 1% from the prior-year period, totalling €98.7m ($96.1m) – with €99.3m posted in Q3 2021.
Meanwhile, reported EBITDA was at minus €2.6m – down from the previous year’s plus €11.5m and the previous quarter’s plus €16.8m.
The results were steady for LeoVegas, though a 1% decline in revenue wasn’t an ideal Q3 report to post. However, there are many reasons for the operator to be excited, not least because of its recent deals with major European football clubs Manchester City and Inter Milan.
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