SBC News Voice of the Sports Betting Industry
LeoVegas Dutch vision has been realised as the MGM Resorts-owned betting and igaming group celebrates its return to the Netherlands after a two year absence.
The Kansspelautoriteit (KSA), the Dutch Gambling Authority (DGA), granted the Swedish international operator a licence in July, which permitted its 21 Heads Up Limited subsidiary a five-year licence.
In today’s (4 October) update, LeoVegas revealed that its flagship brand will operate in the Netherlands for at least the next five years under the LeoVegas.nl domain, offering online casino, live casino and sports betting.
Gustaf Hagman, LeoVegas CEO, said: “The King of Casino is finally home in the orange kingdom! I am delighted that we are taking steps into the Dutch market.
“The combination of a well known brand, our platform, and cutting-edge content will make LeoVegas.nl a contender for the leader’s jersey in the Dutch igaming market.”
LeoVegas’ plans for its Netherlands offering include ‘competitive sports betting odds’ and an ‘ever-growing portfolio’ of slot games, alongside Dutch speaking live casino croupiers.
The past two years have proven to be highly transformative for the formerly Stockholm-listed gambling group. LeoVegas’ Dutch operations came to its aforementioned end in October 2021 when the company had to re-apply for a licence under the then-new regulatory framework of the KOA Act.
During its absence from the Dutch market LeoVegas has been shoring up its position in other countries, but the most significant moment in its recent history came in August last year when its board approved MGM’s $604m (€600m) takeover offer.
Although the opening months of LeoVegas’ tenure as an MGM-owned enterprise saw some trading difficulties – Q4 group-wide revenue rose just 1% to €99.5m (Q4 2021: €98.2m) and adjusted EBITDA fell by 77% to €3.7m (€11.6m) – the firm has kept pace with international expansion.
Notable developments have seen the company acquire a licence for the flagship LeoVegas igaming brand in Germany and increase its focus on sports betting by relaunching the Expekt sportsbook in Denmark, while using its platform to support the rollout of MGM’s BetMGM in the UK.
The company rejoins the Netherlands’ online gaming space after substantial growth for the Dutch market, with the KSA awarding its 27th licence this week to Hommerson Amusement BV, after the market had an initial launched with just 10 licensees back in October 2021.
