LeoVegas Group Secures Three B2B Licenses For Swedish iGaming Market
LeoVegas Group has obtained three five-year B2B licenses from the Swedish Gambling Authority, allowing it to further develop and offer iGaming software within Sweden.
These licenses, set to take effect from July 1, 2023, have been awarded to the Group’s in-house game studio, Blue Guru Games, as well as two additional platforms. Licenses serve as an essential requirement for software providers, playing a significant role in curbing the presence of unauthorised iGaming entities and enhancing channelisation within the Swedish iGaming market.
LeoVegas Group’s journey from a mere operator to a vital component in the iGaming value chain through game and platform development has been marked by remarkable growth. As per the Swedish Gambling Act, any entity engaged in the production, provision, installation, or modification of gaming software for online use is mandated to hold a license, effective from July 1, 2023.
Three five-year B2B licenses have been granted to LeoVegas Group by the Swedish Gambling Authority. These licenses are assigned to Blue Guru Games, the Group’s in-house game studio, and the Group’s two platforms (PAM).
The introduction of Swedish gaming licenses in 2019 brought about a significant overhaul in the regulation and oversight of iGaming companies operating within the country. This reformation strengthened marketing and consumer protection regulations while ensuring consistent gambling tax revenues. The efficacy of the B2B licensing system is largely dependent on the Swedish Gambling Authority’s ability to prevent gaming software intended for licensed Swedish entities from being utilised by unlicensed operators targeting Swedish players.
On May 1, LeoVegas Group revealed its plan to acquire the game developer Push Gaming, which also holds two B2B licenses granted by the Swedish Gambling Authority. The acquisition process is projected to be finalised in the third quarter of 2023.
Gustaf Hagman, CEO of LeoVegas Group, said: “We welcome the introduction of B2B licenses, a decisive step towards mitigating the impact of key gaming software being simultaneously provided to licensed operators and unlicensed operators targeting Swedish players.
“With the new regulations in force, it is now critical that authorities focus on those suppliers deliberately undermining the Swedish licensing system by facilitating unlicensed gaming”.