LeoVegas spins into Denmark following licence success
Operator builds Denmark-focused team ahead of imminent launch into regulated market
LeoVegas will launch its mobile-focused products into Denmark’s regulated market within the coming weeks after the firm was granted a Danish gaming licence, the company announced this morning.
The operator said the move was part of its long-term growth plan and ambition to offer “the greatest gaming experience” to a wider audience.
The company has put together a team with experience in digital marketing and the Danish gaming market ahead of the autumn launch.
Gustaf Hagman, Group CEO and LeoVegas co-founder, said it was “gratifying” to see the operator expand and grow into new markets.
“Our strategy to enter regulated markets or markets that are facing regulation seems like a winning concept,” said Hagman.
“I am convinced that our market-leading mobile gaming product, data-driven marketing approach and a strong, local team will help ensure a successful launch in Denmark, where no one has yet taken the mobile position,” he added.
In addition to its newly-obtained Danish agreement, LeoVegas holds gaming licences in the UK and Malta.
Hagman has previously told EGR the firm was exploring the possibility of expanding into Latin America ahead of regulatory changes in the region.
LeoVegas posted a 67% year-on-year revenue increase for Q2 2016, but reported a loss in profits due to marketing and affiliate costs related to its sportsbook launch.
Denmark’s gambling market recorded an 18% year-on-year rise in online casino revenues during Q2 2016. According to numbers released by the Danish Gambling Authority, online casino (including poker) gross gaming revenues (GGR) increased from DKK 335m (£37.9m) to DKK 395m (£45m) this year.
Denmark’s online gaming market is estimated to be worth DKK 4.6bn in 2016, according to H2 Gaming Capital.