Leo Vegas Swedish License Limit Extended To Five Years

Leo Vegas Swedish License Limit Extended To Five Years

The Administrative Court in Linköping has ruled against Swedish Gambling Authority’s (SGA) decision to restrict the online gambling operator’s Leo Vegas’ Swedish license to two years. Following the court’s ruling the company’s Sweden facing license is now extended to a maximum of five years.

Earlier the Swedish Gambling Authority (SGA) had limited the company’s license to two years. The operator was sanctioned for violating gambling regulations in overseas jurisdictions.

Last year, the UK Gambling Commission had slapped a £600,000 ($732,400) fine on Leo Vegas after the gambling regulator found “failings related to misleading advertising and the handling of customers at the end of their self-exclusion period.”

Challenging the limiting of the license, the operator appealed against the decision and argued that the fine by the UK Gambling Commission was due to a “computer software error” that was “rectified as soon as it came to the company’s knowledge.”

Following the hearing, the court ruled in favor of Leo Vegas and overturned the Swedish Gambling Authority’s decision to limit the operator’s license. The Swiss Gmabling Authority is planning to appeal against the decision.

Recently, Leo Vegas posted a strong performance with its revenue jumping 8 percent year-on-year for the second quarter to June 30.

the online gambling operator generated €94.4m in the second quarter and set a new quarterly record for itself. The company posted an earning of €15m for the same period.

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