LeoVegas has been awarded a license to provide online casino and sports betting services in Spain. The company said that it is set to launch its Spanish website shortly.
The recently granted license comes as part of the operator’s strategy to expand its presence across regulated markets as well as markets on the cusp of regulation. Aside from its recently obtained Spanish license, LeoVegas also holds licenses issued by the gambling authorities of Malta, the UK, Denmark, Italy, Sweden, Ireland and the German state of Schleswig-Holstein.
LeoVegas has been authorized to offer both online casino and online sports betting services by the Spanish gambling regulator, Dirección General de Ordenación del Juego.
Commenting on their upcoming entry into Spain, LeoVegas CEO Gustaf Hogman said that they welcome Spain as their 7th locally regulated market, and that they have the ambition “to take the mobile position and offer the ultimate gaming experience” in that latest market they are entering.
LeoVegas first revealed that it has applied for a Spanish license in December 2018. Back then, the company cited the rapid growth of the local market as one of the reasons it was looking to set foot in Spain.
According to the latest figures released by the local regulator, the Spanish online gambling space grew 20% during the first quarter of the year. Betting represented the greater portion of the revenue bulk. Regulated online sports gambling generated revenue of €100.8 million (up 26% year-on-year) during the three months to March 31, 2019, while the casino vertical saw a 20% annual increase to €67.1 million.
Further Expansion
LeoVegas’ upcoming Spanish entry marks a first milestone in the operator’s strategy to expand across a number of Spanish-speaking markets. The company’s CEO said in a statement that they have already conducted test launches in Peru and Chile.
LeoVegas entered another important market earlier this year. The company was among those licensed by the Swedish Gambling Authority to bring its offering into the recently liberalized iGaming space of the Scandinavian nation.
LeoVegas’ CEO said in an interview with iGaming Business last year that his company has also been following closely the developments in the US sports betting market. A landmark ruling issued by the US Supreme Court last spring paved the way for the legalization of sports betting in multiple states.
Mr. Hagman said last year that they had the US on they radar as it was a market with huge potential. However, the executive noted that there were a lot of factors to be taken into consideration before moving forward with expanding into the US.
Now as LeoVegas has secured its entry into Spain and has made first steps into expanding in Latin America, the company will certainly make further moves into exploring the lucrative Spanish-speaking region.
Headquartered in Malta and conducting technology development in Sweden, LeoVegas is among the premier mobile-driven gambling operators in the competitive iGaming space. The operator offers online casino, live casino, and sports betting products via its global LeoVegas and Royal Panda brands as well as a number of local UK-facing brands.
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