LeoVegas secures nationwide German licence
Swedish operator granted licence for the firm’s LVSports Limited entity
LeoVegas has announced that it has been awarded a licence from the Gemeinsame Glücksspielbehörde der Länder (GGL), Germany’s gaming regulator.
The licence was awarded to the Swedish operator’s LVSports entity.
This new licence allows the operator to offer virtual slot machines across all 16 German states and conduct nationwide marketing.
Gustaf Hagman, CEO at LeoVegas Group, said: ”We are looking forward to launching LeoVegas in Germany under the new nationwide licence. With our track record of regulated markets, we will ensure the greatest igaming experience with a high level of consumer protection.”
This news comes as the GGL announced last month that it had approved 600 of the 3,500 licence applications submitted before the country’s full launch at the beginning of this year.
The regulator also stated that it will be quick to crack down on licence holders that violate its rules as it looks to create “a level playing field for all providers”.
The new German licence award follows on from LeoVegas’ divestment in social gaming startup BeyondPlay to Bettor Capital for €1.9m (£1.69m).
LeoVegas originally invested in the firm via its LeoVentures arm in March 2021. The divestment will now see the operator secure a 73% return on its original €1.1m investment.