LeoVegas, the online gambling group, has received authorisation from Germany’s Federal Gambling Authority, the GGL, to operate under the country’s interstate gambling regime. This marks an important milestone for the Stockholm-listed company, which is now permitted to “offer and market slots nationwide across Germany” as part of the regime known as GlüNeuRStv.
The regulator, which took control of Germany’s policy development, licensing controls, market monitoring, disputes and operator conduct on January 1, 2023, said that it had 50 operator applications to process under the authority of Saxony Anhalt, which served as the licensing authority for online casinos during GlüNeuRStv’s transition phase.
The GGL has also approved 600 permits for individual games out of a total of 3.500, with each slot release or instant game undergoing an approval process to ensure that it meets the regulator’s rules before it is available to players.
Following the authorisation, LeoVegas released a statement: “This is a significant opportunity for the Group that provides access to Europe’s largest iGaming market.” Group CEO Gustaf Hagman added: “We are looking forward to launching LeoVegas in Germany under the new nationwide licence. With our track record of regulated markets, we will ensure the greatest iGaming experience with a high level of consumer protection.“
The GlüNeuRStv’s €1 stake limit on slot titles and 5.3% turnover tax on online slots and poker stakes have come under fire from German operators, who have been pressuring the regulator to revise the terms.
Despite this, LeoVegas sees this as a chance to expand its operations, with the German market being one of the largest in Europe.
As stated by the company: “The Group already has a presence in Germany through its sports betting brand, LV Bet, and sees significant potential in entering the online casino market. Germany is a key strategic market for LeoVegas, and the nationwide licence will give the company access to a larger player base.”