Internet casino group LeoVegas has announced that they've applied for a Swedish gaming license, becoming the latest company to try and get in on the upcoming regulated market.
The company will look to join major companies also looking to join Sweden's newly liberalized market, which will see the country taking in some taxes. The country already is serving as one of the largest online betting markets in the world, but beginning on January 1st it will be officially regulated and players will be granted a level of protection. Currently, all sites offering services to Sweden are offshore groups.
Commenting on the application LeoVegas CEO Gustaf Hagman said, "While it has been known for some time that Sweden is introducing a local licence system, it is very exciting to formally submit an application and is something we have been looking forward to for a long time. Sweden's becoming a locally regulated market is a milestone for Sweden, the industry and LeoVegas. Now, for the first time, everyone can compete on equal terms in a regulated environment, where responsible gaming is a very important part. We believe we have great opportunities to continue gaining market shares in the Swedish market. LeoVegas is a company that operates on several regulated markets and thus has the right tools and knowledge to create sustainable and strong growth."
We've been following this story and will continue updating readers as we learn more about the licensing process.