In November 2018, LeoVegas was one of the first online gambling operators to issue licenses to operate in sweden’s new regulated market, which came into force in January. But although most of sweden’s licenses have a five-year permit, Leo Vegas was approved for a period of two years.
Sweden’s Spelinspektionen gambling regulator said the short-term period was guaranteed due to LeoVegas, which was fined £600k by the Uk Gambling Commission in May 2018 for allowing UKGC to treat misleading advertising and allow self-exclusion gamblers. You have access to leovegas gambling products.
Leovegas appealed Toringshepping’s administrative court to Spellinspecten’s ruling, and the court last week ruled that Leovegas was granted a five-year license. The court found that the most serious uk market violations in LeoVegas’s claims occurred in 2016 and that the company had taken sufficient steps to rectify its shortcomings.
The court also ruled that spelinspektionen did not constitute a “sufficient basis” to deviate from the standard five-year license period, and the penalty for a short license period was neither “justified [n] or proportional.”. Spelinspektionen said Tuesday that it is considering whether to appeal the court’s ruling.
Leovegas CEO Gustav Hagman said the decision was “confirming that we are doing our professional business.” Hagman said the extended license “gives us peace of mind in the Swedish market, where we take up market share every month.”
The increase in market share is at least due to Leovegas’s increased marketing spend in Sweden. The company ranked sixth among all gambling operators in advertising spend from June to August 2019, with total spending of SEK40m (US$4m), up from The Same Period last year.
Two other Swedish online licenses – the Bwin brand of Casmo and GVC Holdings – were also issued a two-year license last November, according to Spelinspektionen’s estimate, which also means that past pranksters in other markets need to see the company”carefully.” It is not yet known whether LeoVegas’s positive results will affect the interests of other brands seeking similar corrections.