LeoVegas Secures GGL License, Forays into Germany
Having secured a license from the GGL, LeoVegas will be able to offer virtual slots through its LVSports Limited brand
LeoVegas Group has been greenlit to launch its LVSports Limited brand in Germany after securing approval from the Gemeinsamen Glücksspielbehörde der Länder (GGL). Thanks to that, the company will be able to make a foray into one of Europe’s largest online gambling markets.
Under the terms of its license, LVSports Limited will be able to offer and market virtual slots across Germany. As a result, the company will be able to conduct nationwide marketing and offer its products in all sixteen German states.
LeoVegas believes that this launch is a significant opportunity for the company which has been keen on expanding its presence in Europe. Gustaf Hagman, the group’s chief executive officer, addressed the matter, saying that his team is excited about the launch. Given the company’s expertise in offering gambling across many jurisdictions, Hagman is certain that LVSports Limited will capture the hearts of German players while protecting them from harm.
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, CEO, LeoVegas Group
LeoVegas Wants to Innovate iGaming
LeoVegas Group is a leading iGaming giant that aims to reshape the online gambling ecosystem. The company offers iGaming, live casino and sports betting through its 10 brands in 9 markets. LeoVegas’ operations are made possible by its team of more than 1,000 employees, supporting the company from its offices in Stockholm and Malta.
LeoVegas seeks to be a true innovator and is also keen on supporting other brands through its LeoVentures investment division.
Last year, the group was acquired by MGM Resorts International, a global gambling juggernaut. Ahead of the acquisition, LeoVegas posted its financial results for the third quarter of the year, emphasizing a small decline in revenue.
Soon after that, three LeoVegas workers were arrested over insider trading. An investigation noted suspicious trading activity just before the merger with MGM Resorts was announced, leading to the eventual arrest of the participants. One of the arrestees held a senior management position at the company and had insider price-sensitive information, which he is suspected of leaking out to third parties.
In more recent news, LeoVegas just announced its decision to divest a quarter of BeyondPlay to Bettor Capital in a $2 million deal.
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