LeoVegas has entered the German online gambling sector with a license from the GGL

Industry News

LeoVegas has entered the German online gambling sector with a license from the GGL

After receipt of authorization to conduct business under the interstate gambling system from Germany's Federal Gaming Authority, often known as the GGL, LeoVegas has made the decision to focus its attention on the German gaming market.

The online gambling firm made the announcement this morning (Friday, March 3) that it has secured the proper authorization to "provide and sell slots countrywide across Germany" from the GGL. The announcement came on the same day that Germany celebrated its National Slots Day.

The following was stated in the announcement made by the publicly traded company based in Stockholm: "Gemeinsamen Glücksspielbehorde der Lander (GGL), has granted LVSports Limited, an entity of LeoVegas Group, a new gaming license, enabling the Group to start offering virtual slot machines across all sixteen German states and conduct nationwide marketing."

On January 1, 2023, the GGL was given the responsibility of controlling Germany's policy formulation, licensing restrictions, market monitoring, disputes, and operator behavior. This responsibility included governing the 'GlüNeuRStv' regime.

The regulatory body kicked off the proceedings by announcing that it would clear a backlog of fifty operators who had sought for licenses to market igaming goods in Germany. This was the beginning of the proceedings.

During the period in which the GlüNeuRStv was through its changeover, the state of Saxony-Anhalt acted as the licensing authority for internet casinos. These applications were approved and granted under that authority.

In addition, the GGL outlined that it has approved 600 permits for individual games out of a total of 3,500. This is because every slot release and instant game must go through an approval process to ensure that they cater to the GGL's regulations before they are made available to player bases across the country.

Moreover, German operators have put pressure on the GGL to change the GlüNeuRStv's €1 stake restriction on slot games as well as its 5.3% turnover tax on online slot and poker stakes.

In the wake of the revelation that it had been granted a GGL license, LeoVegas made the following statement: "This is a big opportunity for the Group that gives access to Europe's largest igaming market."

Gustaf Hagman, Chief Executive Officer of the Group, stated further that "We are looking forward to launching LeoVegas in Germany under the new countrywide licence." We have a proven track record of operating in regulated markets, which enables us to provide our customers with the safest and most enjoyable online gaming experiences possible.