LeoVegas secures three B2B licenses in Sweden

LeoVegas Group has scored a major win in Sweden with the company winning a trio of business-to-business (B2B) licenses allowing the company to provide and develop gaming software and solutions in the country’s regulated iGaming market. The licenses will come into effect from July 1, 2023, and they are aligned with the reregulation of the market undertaken by the Swedish Gaming Authority (Spelinspektionen).

The licenses have been allocated to LeoVegas Group’s Blue Guru Games and two platforms. These licenses are obligatory permits that will allow the company to operate locally and comply with changes to the Swedish Gambling Act. All of the licensees have been granted for a period of five years and they cover the platforms, PAM, and Blue Guru Games as noted.

This achievement was hailed by LeoVegas Group Chief Executive Officer, Gustaf Hagman, who spoke about the significance of this development and what it meant for the company moving forward in the market. Hagman welcomed the regulatory decision to introduce B2B license accreditation, seeing this as a surefire way to help operators only provide players with licensed products and games.

"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," Hagman said. Sweden has been moving fast in the regulated gambling market, passing comprehensive and reliable laws intended to boost consumer protection.

The new B2B licensing system is designed to grant Spelinspektionen further powers in making sure that software that is offered to local players by licensed operators is not used by unlicensed operators to similarly try to target, attract, and convert players based in Sweden.

LeoVegas Group’s presence in the regulated market is only going to grow as the company is also in the process of finalizing the acquisition of Push Gaming, an established supplier of online casino products, which also has a B2B license from Spelinspektionen and is poised to strengthen LeoVegas’ footprint in the Nordics and Sweden in particular.

LeoVegas is not the only company to have obtained valuable licensing from the regulator. A string of suppliers has successfully gone through the licensure process to end up with a permit and ensure that they are compliant with the new regulatory regime arriving next month.

Among those companies are Booming Games, Spinomenal, and Soft2Bet along with other suppliers who are now authorized to continue supplying their products.

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