LeoVegas extends Swedish stay
Swedish live casino provider LeoVegas has won the legal battle against Swedish casino regulator Spelinspektionen.
The License Limitation Appeal
In November 2018, LeoVegas was one the first online gambling operators to be issued a license and the right to conduct casino and sports betting online in Sweden’s newly regulated market.
However, while the majority of Sweden’s licensees got permits that last for five years, LeoVegas was approved for only a two-year period.
After the Swedish Gambling Authority (SGA) decided to limit LeoVegas’ operations in the country to a two-year license agreement, the company filed a lawsuit to change it to the maximum legal limit, which is five years.
Emerging Victorious From The Legal Exchange
Sweden’s Spelinspektionen gambling regulatory body decision to limit LeoVegas to a two-year licence was based on the casino operator’s foreign violations. This referred to when LeoVegas was fined £600,000 by the UK Gambling Commission, for “misleading advertising and the handling of customers.”
On October 8, the Swedish Administrative Court of Linköping overturned the Spelinspektionen’ ruling, granting LeoVegas the permission to operate for full five years.
The court has ruled in favour of LeoVegas, basing the decision on the fact that the brand had taken all the necessary steps to improve upon whatever regulatory failures they may have shown in the past.
Proof of Professional Conduct
Gustaf Hagman, the CEO of LeoVegas said the verdict was “confirmation that we are conducting a professional business.”
He also said that license extension gives them “continued peace of mind in the Swedish market, where we take market share month by month.”
“With our eight gaming licenses I look forward to a continued offensive expansion, and this year alone we have gone live in several new markets and we will continue to focus on profitable growth,” Hagman added.
Besides now prolonged Swedish Gambling License, LeoVegas enjoys an MGA gambling license, a UK license, Danish Gambling Commission license, as well as Italian, Irish, German and Spanish licenses.