Online casino powerhouse, LeoVegas declared that it is going to enter the Spanish market soon. Spain will be the seventh regulated market that the operator ‘invades’ after Malta, the UK, Sweden, Denmark, Italy, Sweden and Ireland. LeoVegas holds a license in the German state of Schleswig-Holstein, too.
LeoVegas secured both licenses for casino and sportsbook services from Dirección General de Ordenación del Juego (DGOJ) and soon they will upload the website with a Spanish domain. The announcement of this move was already confirmed by the end of 2018.
According to Gustaf Hagman, Group CEO of LeoVegas AB, the company’s strategy to target the mobile market is going to be enhanced by a fast-growing market like Spain. He added that LeoVegas has set eyes on expanding to other Spanish-speaking countries such as Peru and Chile, with the ambition to achieve dominant status in Latin America.
Hagman also believes that the consecutive moves towards regulated markets that LeoVegas makes, will bring a pivotal 50% increase in revenue compared to last year. Especially, Spain is a market that opened its doors to the international operators very recently so it is unexploited and LeoVegas can claim leading status at it.
LeoVegas board has expressed thoughts about expansion in the United States, too. The problem that holds them back is the same that encouraged them to include Spain in the casino’s jurisdiction: regulation. The lack of national legislation combined with the fact that an online casino needs a separate license for each state, are deterring factors that not only delay the expansion but they make it risky, too.