After receiving approval from the Gemeinsamen Glucksspielbehorde der Lander, LeoVegas Group was given greenlight to launch its LVSports limited brand in Germany. This approval will allow the company to enter one of Europe’s most important online gambling markets.
LVSports Limited is now authorized to market and offer virtual slots in Germany under the terms of its license. The company will now be able conduct nationwide marketing and sell its products in all 16 German states.
LeoVegas sees this launch as a major opportunity for the company, which has long been interested in expanding its European presence. Gustaf Hahman, chief executive officer of the group, spoke out and said that the launch is exciting for his team. Hagman believes that LVSports Limited, with its expertise in providing gambling across multiple jurisdictions, will win the hearts of German gamblers while also protecting them from harm.
We look forward to launching LeoVegas Germany under the new nationwide licence. We have a track record of regulating markets and will provide the best iGaming experience, with high levels of consumer protection.
Gustaf Hagman, CEO, LeoVegas Group
LeoVegas wants to innovate iGaming
LeoVegas Group, a major iGaming company, aims to transform the online gambling industry. Through its 10 brands, the company offers iGaming and live casino as well as sports betting in nine markets. LeoVegas is supported by more than 1,000 employees from Stockholm and Malta.
LeoVegas is a true innovator. It also supports other brands through its LeoVentures investment unit.
MGM Resorts International, an international gambling giant, bought the group last year. LeoVegas published its financial results in the third quarter, emphasizing a slight decline in revenue.
Soon thereafter, three LeoVegas employees were detained for insider trading. The investigation revealed suspicious trading activity right before the merger announcement with MGM Resorts, which led to the eventual arrests of the participants. One of the arrested men held a high-ranking position in the company’s management and was suspected of leaked price sensitive information to third parties.
Recent news: LeoVegas announced that it will sell a quarter to BeyondPlay to Bettor Capital as part of a $2 million deal.