LeoVegas Gears up for Spanish Launch in Q1 2019
LeoVegas has got its eyes on the Spanish online gambling market. The online gaming operator has applied for licences for both casino and sports betting in Spain, aiming to launch in the country in the first quarter of 2019.
LeoVegas is currently licensed by regulators of Malta, Denmark, Italy, Ireland and the UK. The company is also one of the first licensees of the regulated Swedish market. Its entry in Spain will mark the operator’s first step in establishing its presence in a Spanish-speaking country.
The rapid growth of the Spanish gaming market explains LeoVegas’ interest in Spain. The latest statistics from Spanish gambling regulator DGOJ suggest that during the third quarter of 2018, the market has increased almost 30% year-on-year, amounting to £162.3 million. The bloom in Spain’s sports betting sector, favoured by the 2018 Fifa World Cup, was the main contributor.
“Spain is one of the fastest growing markets in Europe. Through our technology and experience, we can effectively adapt our business to regulated markets regardless of language and regulations,” explained Gustaf Hagman, group chief executive at LeoVegas.
“Therefore, we expect to launch in Spain already in the first quarter of 2019.”
A Greater Focus on Sports Betting
The online gambling firm has been putting extra effort in sports betting lately, as reflected by its establishment of a new sportsbook brand in the UK in August. LeoVegas has also revealed its interest in the American market, but that would remain as a watching brief for now.
LeoVegas has reported a 41% year-on-year growth in revenue last month. Its total revenue in the third quarter reached €78.6 million.