LeoVegas Re-enters Dutch Market with Launch of New iGaming Platform
Summary:
- LeoVegas’ flagship brand has gone live in the Netherlands under the LeoVegas.nl domain
- The launch comes after the iGaming operator obtained a five-year license from the KSA in July
- LeoVegas pushes on with its global expansion plans after being acquired by MGM Resorts in 2022
After two years, LeoVegas is back in the Netherlands. The iGaming and sports betting operator, now owned by MGM Resorts, has gone live in the Dutch market after obtaining a five-year license from the country’s gaming regulator, the Kansspelautoriteit (KSA), in July.
LeoVegas Celebrates Dutch Comeback
LeoVegas is now authorized to offer its services in the Netherlands via its subsidiary, 21 Heads Up Limited. Dutch players now have access to the Swedish operator’s main offerings, including live casino, online casino, and sports betting through its flagship brand which is operating under the LeoVegas.nl domain.
LeoVegas had to withdraw from the Dutch market in October 2021 when the new KOA regime came into effect. The firm ceased its Dutch operations as it was required to re-apply for a license under the country’s new online gambling laws.
CEO Gustaf Hagman has high hopes for the group’s Dutch comeback, saying LeoVegas has strong potential to become the top iGaming provider in the Netherlands with its combination of an established brand, platform, and cutting-edge content which makes it the “King of Casino”.
LeoVegas Focused on Global Expansion
While LeoVegas had to temporarily stop offering its services to Dutch customers, it has continued its global expansion efforts. The group’s international operations have gone from strength to strength since it was acquired by MGM Resorts in August 2022 for $604 million.
That’s despite some struggles during its early months of being under new ownership, with its revenue up by just 1% to €99.5 million during the fourth quarter of 2022, and adjusted EBITDA down 77% to €3.7 million in the same period.
2023 has been particularly busy for the iGaming operator – prior to its Dutch re-entry, it also secured a gaming license in Germany in March. Additionally, its Danish operations also received a boost with the re-launch of its Expekt sportsbook in May, with the firm also providing platform support for its sister company BetMGM which recently went live in the UK.
LeoVegas’ Dutch re-launch couldn’t come at a better time. The country’s iGaming market has enjoyed huge growth over the last two years, with the number of licensed operators growing to 27 from the initial 10 when the KOA regime took effect in October 2021.
Carolyn DuttonAuthor
Carolyn is our legislation expert, with a background in law she is able to cover the current state of gambling around the world
