LeoVegas Concerned Over Swedish Online Gambling Market

Online gambling operator LeoVegas said it was concerned by the current state of the Swedish online gambling industry following a huge rise in unlicensed operators targeting customers who have already self-excluded, he said in a statement following the companies third quarter results.

Which stood at

• Revenue increased by 1% to EUR 88.9 m (88.2). Organic growth in local currencies was 2%.
• EBITDA was EUR 11.9 m (12.7), corresponding to an EBITDA margin of 13.4% (14.4%).
• The number of depositing customers was 438,691 (347,464), an increase of 26%.

Gustaf Hagman, LeoVegas CEO said: In Sweden we are seeing a troubling development in which the unlicensed market continues to grow unhindered. A growing number of operators without licences are actively targeting Swedish players, including those who have been barred by the self-exclusion tool Spelpaus. This has been confirmed by, among others, several organisations that provide help to people with a gambling problem. These organisations have noted that the majority of those seeking help are playing with the unlicensed operators. The problem is big and is shaking the foundation of the entire Swedish licence system. Quick and strong measures are now needed by Swedish politicians and authorities to ensure a well-functioning Swedish gaming market.