LeoVegas Group Receives Three B2B Licenses In Sweden
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Recently, Stockholm-based LeoVegas Group, a flagship global iGaming company offering online casino, live casino and sports wagering, received three five-year licenses, the so-called “B2B licenses”, by the Swedish Gambling Authority to manufacture and provide gaming software in Sweden. However, these licenses, which will take effect from July 1, 2023, have been given to the Blue Guru Games, the company’s game studio, and two platforms.
Certain companies are required to have a Swedish license:
Licenses are something of a key importance for providing software to licensed operators and a key step in stopping unlicensed gaming companies from strengthening their influence on the Swedish gaming market.
In this regard, taking effect from July 1, 2023, under the Swedish Gambling Act, firms that manufacture, provide, install or modify game software used in online gaming must hold a license.
An important player in the iGaming industry:
Since its establishment, LeoVegas Group has consistently worked towards rapid growth, which has led it to develop from an operator to an integral player within the iGaming industry value chain through the evolution of games and platform. Moreover, having now received the aforementioned three five-year B2B licenses from the Swedish Gambling Authority, it can proudly state that it continues to move in the right direction. However, as noted above, these licenses were originally given to Blue Guru Games and the company’s two platforms (PAM). Commenting on the new licenses, Gustaf Hagman, CEO of LeoVegas Group, said: “We welcome the introduction of B2B licenses, a decisive step towards mitigating the impact of key gaming software being simultaneously provided to licensed operators and unlicensed operators targeting Swedish players. With the new regulations in force, it is now critical that authorities focus on those suppliers deliberately undermining the Swedish licensing system by facilitating unlicensed gaming.”
On May 1, LeoVegas Group revealed its plans to purchase Push Gaming, which is also licensed by the Swedish Gambling Authority and possess two B2B licenses. The purchase is projected to be finished in the third quarter of 2023.
B2B licensing system:
In 2019, the initiation of Swedish gaming licenses marked an important reform for the regulation and supervision of gaming companies operating in Sweden. Additionally, this reform strengthened regulations related to marketing and consumer protection, while providing notable gambling tax income. However, the B2B licensing system relies heavily on the capacity of the Swedish Gambling Authority to limit key gaming software that is for licensed Swedish companies to be used concurrently by unlicensed operators whose sole aim is to lure Swedish players.
