LeoVegas Group has been notified by the Alcohol and Gaming Commission of Ontario that the Group has been registered as an igaming operator. It is an important step in the province’s licensing process, where the next and final step involves entering into an operating agreement with iGaming Ontario. This is possible once the company has completed the necessary onboarding steps with iGO. The Group will offer casino, live casino and betting under the brands LeoVegas and Royal Panda.
With approximately 14 million inhabitants (39 percent of Canada’s population), Ontario is the most populous province in the country. In recent years, Ontario has undergone a successful and transparent re-regulation process and, in the meantime, LeoVegas Group has established strong brands with a loyal customer base in Ontario and the rest of Canada. In January 2022 revenues from Canada accounted for 13 percent of the Group’s total revenues and Ontario generated approximately 35 percent of the Canadian revenues.
Gustaf Hagman, CEO of LeoVegas Group, said “Over recent years, the LeoVegas brand has become the third most well-known casino brand in the Canadian market and Royal Panda has shown strong growth – a clear sign that the mobile gaming experience we offer is appreciated by North American customers. Our full focus now is to complete the process and we look forward to launch in a regulated environment. Given our track record and knowledge to operate in regulated markets we continue to have high expectations and ambitions for continued growth in the Ontario market”.
The Ontario and North America expansion is in line with LeoVegas Group’s strategy to grow in locally regulated markets and soon-to-be regulated markets. LeoVegas Group has also announced plans to launch in the United States later this year, beginning with the state of New Jersey. In Q4 2022 the Group’s, revenues from locally regulated and taxed markets represented 74 percent of total revenues.