LeoVegas is now looking to enter the German gaming market, having been granted permission by the Federal Gambling Authority (the GGL) to operate under the interstate gamblers regime.
Online gambling company announced Friday, March 3, that it has received licensing from the GGL to “offer and sell slots throughout Germany,”
The announcement from the Stockholm-listed company read: “Gemeinsamen Glucksspielbehorde der Lander(GGL) has granted LVSports Limited (an entity of LeoVegas Group), a new gaming license. This will allow the Group to offer virtual slot machines in all 16 German states as well as conduct nationwide marketing.”
The GGL was responsible for governing the’GluNeuRStv‘regime. It took over governing Germany’s policy, licensing controls, market monitoring and disputes.
The regulator began its proceedings by declaring it would handle a backlog consisting of 50 operators who had applied for licenses to offer igaming services in Germany.
These applications were made under the authority Saxony Anhalt. This was the licensing authority for online casino during the transition phase of GluNeuRStv.
The GGL also stated that 600 individual permits have been approved for games out of a total of 3,500. Each slot release or instant win must be approved by the GGL before it can be distributed to players across the country.
German operators have also pressured the GGL to reduce its EUR1 stake limit for slot titles and its 5.3 percent turnover tax on poker stakes and online slots.
LeoVegas, following the announcement of its GGL license, stated that “This is an important opportunity for Group that provides access Europe’s largest Igaming market.”
Group CEO Gustaf Haman said: “We look forward to launching LeoVegas Germany under the new national licence. We have a track record of operating in regulated markets and will provide the best igaming experience, with high levels of consumer protection.