LeoVegas AB: Sweden's parliament has decided on new gaming legislation in Sweden
Yesterday, the Swedish parliament decided on the new gaming legislation in Sweden. The new legislation will enter into force on January 1, 2019 and is in line with the previous proposal.
In the new law, the game tax is set at 18% calculated on gross gaming revenue. It also introduces a central register for responsible gaming that allows customers to restrict themselves from all licensed gaming operators in the Swedish market.
"It is a long-awaited decision that will create a more sustainable gaming market in Sweden. In particular, I think that the central register is important as it will have a positive effect in responsible gaming, which is an area we continue to invest in. Our assessment is that the tax and the license requirements increase barriers to entry for new players, which benefits us with a world-class customer experience, efficient organization and strong brands. "comments Gustaf Hagman, CEO of LeoVegas Mobile Gaming Group. "
To read the decision in its entirety please see this link. http://www.riksdagen.se/en/
For further information, please contact:
Gustaf Hagman, Group CEO: +46 (0) 8 410 367 66, gustaf.hagman@leovegas.com
Philip Doftvik, Head of Investor Relations and Corporate Finance: +46 73 512 07 20, philip.doftvik@leovegas.com
About the LeoVegas mobile gaming group
LeoVegas' passion is "Leading the way into the mobile future". LeoVegas is Sweden's premier GameTech company and is at the forefront of using state-of-the-art technology for mobile gaming. In 2017 the company passed the threshold for being classified as a unicorn, i.e., a start-up valued at more than USD 1 billion. A large part of this success can be credited to an extreme product and technology focus coupled with effective and data-driven marketing. Technology development is conducted in Sweden, while operations are based in Malta. LeoVegas offers casino, live casino and sports betting, and operates two global and scalable brands - LeoVegas and Royal Panda - as well as a local, multibrand operator collectively referred to as Rocket X. The company's shares are listed on Nasdaq Stockholm. For more about LeoVegas, visit www.leovegasgroup.com.