LeoVegas AB is a Swedish mobile gaming company and provider of online casino and sports betting services such as table games, video slots, progressive jackpots, video poker and live betting to a number of international markets. LeoVegas Gaming Ltd. is a subsidiary of LeoVegas AB, the parent company whose stock is traded on the Stockholm Stock Exchange.
|Traded as||Nasdaq Stockholm: LEO|
|Founded||2011 in Sweden|
|Founders||Gustaf Hagman (co-founder and Chief Executive Officer)|
Robin Ramm-Ericson (co-founder)
Number of locations
|Stockholm, Group HQ|
Malta, Gaming Ltd
|Nordics, United Kingdom, Europe|
LeoVegas Live Casino
Number of employees
Gustaf Hagman and Robin Ramm-Ericson co-founded the mobile gaming company LeoVegas based on the realisation that smartphones would revolutionise the world. Today the group has over 900 employees and is one of the leading mobile gaming companies in Europe – positioned as number one in mobile casino. LeoVegas.com went live in 2012 and has since been recognised for award-winning innovation and strong growth.
Leovegas was founded in 2011 by Gustaf Hagman (Group CEO) and Robin Ramm-Ericson (Chairman of the Board & Managing Director of LeoVentures) with the vision to create the ultimate mobile gaming experience and be number one in mobile casino.
LeoVegas has experienced rapid growth due to the overriding increase of smartphone use and the "mobile first" mentality of its founders. Hagman stated that the company "was born out of the smartphone, which today is the fastest growing channel for entertainment." As a result the company has over 700 employees working for the provider.
The initial stock market offering of the company took place on 17 March 2016. Financial advisers in the transaction were Carnegie Investment Bank and SEB, as Joint Global Coordinators and Book-runners. Legal advisers were Baker McKenzie while Avanza Bank AB was appointed as LeoVegas' certified adviser. At the time of the initial listing of the company stock was heavily oversubscribed.
In advance of the initial public offering (IPO) LeoVegas announced a 124% increase in annual revenue of €83m for 2015 compared to €37m 2014. Depositing customers for both years and 2013 were as follows: 54,283 (2013), 100, 745 (2014), 202,498 (2015).
On 13 May 2016, one month before the UEFA Euro 2016 football tournament, LeoVegas launched its sports betting product LeoVegas Sport. At the time of launch, CEO of LeoVegas Gaming Ltd. Johan Styren stated that fast loading speeds and the mobile-first approach would be integral to growth in the live betting market for mobile.
On 7 July 2016, LeoVegas obtaining a gaming license in Denmark.
On 1 March 2017 LeoVegas acquired 100% of the Italian operator Winga s.r.l. for a reported fee of €6 millions, entering the Italian online gambling market. The Italian online platform and website became fully operative on 17 November 2017.
On 17 March 2017, LeoVegas was listed on Nasdaq First North Premier.
On 19 June 2017, LeoVegas signed a two-year deal with EFL Championship club Brentford to become both their new shirt and title sponsor. They followed this up a week later, on 26 June, by signing a three-year deal with Norwich City.
On 8 December 2017, LeoVentures acquired a 51% majority stake in GameGrounds United, owner of the Casino Grounds streaming network.
On 7 February 2018, LeoVegas acquired German licenses.
On 5 March 2018, LeoVegas acquired a fast growing casino operator in UK, today called Rocket X.
On 13 September 2018, LeoVentures acquired 51% of the shares in Pixel Holding Group Ltd, which runs the esports betting operator Pixel.bet. Pixel.bet has a five year license on the Swedish market.
On 30 November 2018, LeoVegas was among the first to receive a gambling licence in Sweden.
On 1 January 2019, Sweden became a regulated market and LeoVegas had a license from day one.
The company headquarters are in Stockholm, whereas the brand "LeoVegas" is owned by LeoVegas Gaming Ltd. which is based in Malta. Technical development is conducted by a further subsidiary of the group, Gears of Leo, based in Sweden. The company has offices in Italy, UK and Poland.
The online casino and sports betting products are licensed and regulated under the service of the Maltese Lottery and Gaming Authority (MGA). In the United Kingdom, the company operates in compliance with UK Gambling Commission requirements and in Sweden under the service of Spelinspektionen.
LeoVegas offers a number of casino games from game providers including NetEnt, Yggdrasil, Evolution Gaming, IGT, Play N’ Go, Playtech, Microgaming, Authentic Gaming, Bally and WMS. Some of the casino games offered are roulette, blackjack, baccarat and Caribbean stud poker.
In the Dutch TV show Opgelicht ("Scammed"), LeoVegas is mentioned in episode 3 in 2018 for large scale deception of consumers via advertising. Via Facebook, LeoVegas shared fake news displaying a man who claimed he won his millions very easily. The man, who was working for LeoVegas, says (in Dutch) "I guarantee to you, if you want the best opportunity to win millions of euros for free within a few minutes, then you only have today to sign up". The false advertisement also claims that LeoVegas is linked to arbitrage algorithms in 74 stock markets. LeoVegas also shared fake news misusing a picture of Dutch newsreader Dionne Stax and dutch national news organisation NOS (Nederlandse Omroep Stichting), showing a picture of a British actor who claimed to have won millions with LeoVegas. The actor also played a main role in the British short movie Homeless, of which LeoVegas used his picture for their false advertisement.
According to the Dutch Kansspel Autoriteiten also known as the NGA (the Netherlands Gambling Authority), the commercials and advertising are misleading and deceptive, making false statements about odds and suggesting gambling is a solution for financial problems.
LeoVegas was fined £600,000 (€680,500) by the Gambling Commission (GC) over "failings" related to misleading advertising and the handling of customers. The GC identified 41 misleading adverts that were sanctioned by the operator, as well as evidence of the mistreatment of customers at the end of their self-exclusion period. A review found that LeoVegas failed to return funds to 11,205 customers when they chose to self-exclude and close their accounts, while marketing material was sent to 1,894 people who had previously self-excluded. In addition, LeoVegas allowed 413 previously self-excluded customers to gamble, without speaking to them first or applying a 24-hour cooling off period.
Selection of awards and prizes won by LeoVegasEdit
- 2013 - "Best Innovation in Casino of the Year", EGR Nordic Awards
- 2014 - "Best Mobile Product of the Year", EGR Nordic Awards
- 2015 - "Affiliate Program of the Year" & "Slots Operator of the Year", EGR Nordic Awards
- 2015 - "Grand Prize Award", GP Bullhound Summit
- 2016 - "Mobile Operator of the Year", "Casino Operator of the Year" & "Nordic Operator of the Year" EGR Nordic Awards
- 2016 - "Online Casino Operator of the Year", International Gaming Awards
- 2016 - "Casino Operator of the Year", Gaming Intelligence Awards
- 2016 - "The Best Mobile Marketing Campaign of the Year" & "Best CRM Campaign of the Year"
- 2017 - "Best Casino Operator", EGR Nordic Awards
- 2017 - "Best App", EGR Operator Innovation Awards
- 2017 - "CSR of the year", Malta Gaming Awards
- 2018 - "Casino Operator of the year", EGR Nordic Awards
- 2018 - "Casino Operator of the year", SBC Awards
- 2018 - "Best Sports Betting Operator". EGR Nordic Awards
- 2018 - "Best Online Casino", Global Gaming Awards
- 2019 - "Casino Operator of the Year", EGR Nordic Awards
- 2019 - "Best Mobile Operator of the Year", International Gaming Awards
- 2019 - "Online Casino of the Year", Global Gaming Awards
- "Välkommen till LeoVegas AB - The mobile gaming company". leovegasgroup.com. Retrieved 2016-09-11.
- "mobile first"
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- LeoVegas Mobile Gaming Group, Annual Report 2015; Retrieved 2016-09-12
- "LeoVegas successfully launch their new sports betting product". Calvin Ayre News. Retrieved 2016-09-11.
- "LeoVegas CEO: Newly-launched sportsbook's loading speeds "thump" our competitors' times". www.gamblinginsider.com. Retrieved 2016-09-11.
- AB, LeoVegas (2017-07-07). "LeoVegas launches LeoVegas Sport in Denmark". GlobeNewswire News Room. Retrieved 2019-02-14.
- "LeoVegas completes the acquisition of the Italian gaming operator Winga". globenewswire.com. March 1, 2017. Retrieved February 18, 2018.
- Menmuir, Ted (February 21, 2017). "Veni vidi vici…LeoVegas acquires Winga Italia for €6 million". sbcnews.co.uk. SBC News. Retrieved February 18, 2017.
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- "LeoVegas new Shirt Sponsor and Title Partners". www.brentfordfc.com. June 19, 2017. Retrieved September 11, 2017.
- "City announce new principal club partner". www.canaries.co.uk. June 26, 2017. Retrieved September 11, 2017.
- "Leo Vegas buys Royal Panda in it's largest ever purchase". Retrieved 2017-11-09.
- Nasdaqs Main Market
- Nasdaq (2018-02-05). "Nasdaq Stockholm Welcomes LeoVegas to the Main Market". Nasdaq. Retrieved 2019-02-14.
- "LeoVegas shows UK muscle with launch of Rocket X". SBC News. 2018-03-05. Retrieved 2019-02-14.
- AB, LeoVegas (2018-09-13). "LeoVegas AB: LeoVentures invests in esports betting - Pixel.bet". GlobeNewswire News Room. Retrieved 2019-02-14.
- Group, LeoVegas Mobile Gaming. "LeoVegas Among First to Receive Gambling Licence in Sweden". www.prnewswire.com. Retrieved 2019-02-14.
- "Deposits and Withdrawals". Retrieved 3 February 2017.
- "Is LeoVegas Safe?". Retrieved 21 February 2019.
- "- EGR Magazine". www.egrmagazine.com. Archived from the original on 2016-03-04. Retrieved 2016-09-11.
- "Winners". Retrieved 2016-09-11.
- "LeoVegas Celebrates Double-win at EGR Operator Awards". Calvin Ayre News. Retrieved 2016-09-11.
- "LeoVegas, Sigfox and Jobandtalent take home the awards at GP Bullhound's European Unicorn Summit | GP Bullhound". GP Bullhound. Retrieved 2016-04-29.
- "EGR Nordics Awards 2016 - Categories". Retrieved 2016-09-11.
- "IGA Winners 2016". Gaming Awards. 2015-12-01. Retrieved 2016-04-29.
- Administrator. "The Gaming Intelligence Awards - Gaming Intelligence". www.gamingintelligence.com. Retrieved 2016-09-11.
- "Winners". Retrieved 2016-09-11.
- Roocroft, Andy. "LeoVegas crowned Nordics Operator of the Year 2018". EGR Intel. Retrieved 2019-02-14.
- "SBC Awards 2018". SBC Events. Retrieved 2019-02-14.
- "Global Gaming Awards - London 2019". www.globalgamingawards.com. Retrieved 2019-02-14.
- Roocroft, Andy. "LeoVegas crowned Nordics Operator of the Year 2019". EGR Intel. Retrieved 2019-02-14.
- "The winners of the Global Gaming Awards London 2019 are..." LiveCasino.com. 2019-02-05. Retrieved 2019-02-14.