SBC News Voice of the Sports Betting Industry
LeoVegas Group has added another international market to its stable by securing a Dutch licence, becoming the 25th operator to enter the country.
The gaming licence enables Stockholm-headquartered LeoVegas’ 21 Heads Up Limited to begin business in the Netherlands, with plans to go live in H2 2023.
Issued by the Kansspelautoriteit (KSA), 21 Heads Up’s five-year licence covers sports betting, casino and live casino. LeoVegas has a history of activity in the Netherlands, but exited the market in September 2021 ahead of regulatory changes the following month.
Gustaf Hagman, LeoVegas Group CEO, said: “LeoVegas Group has been granted a gaming licence in the rapidly growing Dutch market! We are thrilled to look to the future and fully focus on resuming our Dutch journey: the Netherlands has great potential and we look forward to it becoming an important market in our global growth journey.”
The addition of LeoVegas to the Dutch market comes just one month after the country’s 24th betting and gaming licence was issued to VBet by the KSA, showing continuing expansion of the sector.
Under the KOA Act of October 2021, the Dutch online betting and gaming space was relaunched with an initial market of 10 licenced businesses.
In the two years since this has more than doubled, and in its latest update the KSA reported NGR of €90m for January 2023, projecting that the market will continue to grow by around 13% and 15% per year.
Meanwhile, the Dutch licence comes at a significant time in LeoVegas’ history, as the group moves forward as part of MGM Resorts International‘s business after being acquired by the American multinational in February 2023.
Although facing difficult trading in Q1 2023 including a year-on-year drop in revenue, the firm maintains its plans for cross-border growth, including a focus on expanding its sportsbook offering such as relaunching the Expekt betting brand in Denmark.
