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LeoVegas Group has entered into an operating agreement, equivalent to a gaming license, with Canadian iGaming Ontario (iGO) following a successful licensing process. The license enables LeoVegas Group to continue offering casino, live casino and betting under the LeoVegas and Royal Panda brands in Ontario. The license is the Group’s ninth gaming license in a locally regulated market.
In March, LeoVegas Group announced that it had registered as a gaming operator with the Alcohol and Gaming Commission of Ontario (AGCO), the regulatory agency in Canada’s most populous province of Ontario. LeoVegas Group has now completed the onboarding process and entered into an operating agreement, equivalent to a local gaming license, with iGaming Ontario (iGO). The Group will offer casino, live casino, and betting under the LeoVegas and Royal Panda brands via its proprietary player account management platform Rhino.
Speaking about the agreement, Gustaf Hagman, CEO of LeoVegas Group said, “LeoVegas is already one of the strongest brands in Ontario, with a proven track-record of operating in regulated markets, so we are thrilled to be going live on day one and to be among the first to have secured an operating agreement! We look forward to continuing to bring our safe, world-class gaming experiences to Ontario and have high expectations and growth ambitions in North America.”
Canada accounted for 13% of Group revenue in January 2022, with approximately 35% of Canadian revenue generated in Ontario.
Ontario is LeoVegas Group’s ninth gaming license, and expansion in North America is firmly in line with the Group’s strategy to grow both in locally regulated markets and markets that are soon to be regulated. During the fourth quarter of 2021, revenues from locally regulated or locally taxed markets accounted for 74% of the Group’s total revenue. LeoVegas Group will also be launching in the United States later this year, starting in New Jersey.