STOCKHOLM, July 1, 2019 /PRNewswire/ --
"We welcome Spain as our 7th locally regulated market. With LeoVegas' position as 'King of Casino', we are now entering Spain with the ambition to take the mobile position and offer the ultimate gaming experience. The Spanish online gambling market have a strong underlying growth with over 20% per year. The Spanish license is an important step in our continued expansion, in other Spanish-speaking countries, where we have already conducted test launches in Peru and Chile," says Gustaf Hagman, Group CEO, LeoVegas.
Expansion strategy
LeoVegas' expansion strategy is to enter regulated markets or markets with plans to regulate. Today the company has gaming licences in Malta (EU), the UK, Denmark, Italy, Sweden, Ireland, the German state of Schleswig-Holstein, and now also in Spain.
LeoVegas' data-driven approach to marketing is one of the keys to successful establishment. In connection with a launch, marketing will gradually increase, and every marketing channel and player values are analysed. Such analyses form the basis for continuously optimising and scaling up customer acquisition.
The Spanish Market
The Spanish online gaming market is worth approximately EUR 1 billion in 2019, according to H2 Gaming Capital, compared with the Swedish market, which is estimated to be worth approximately EUR 1.4 billion. Today only 13% of all gaming in Spain is online, compared with 50% in Sweden. The Spanish online market is experiencing strong growth as more and more gaming is moving online. The most recent figures from the Spanish Gambling Authority show that the casino segment grew by 20% in Q1 2019 compared with the same period a year ago. The casino segment accounts for about 35% of the total online market in Spain.
LeoVegas' passion is 'Leading the way into the mobile future'. LeoVegas is the premier GameTech company and is at the forefront of using state-of-the-art technology for mobile gaming. 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 number of local brands in the UK. LeoVegas is a global group in which LeoVegas AB (publ) is the parent company. LeoVegas AB (publ) does not conduct any gaming operations; rather, operating activities are conducted by subsidiaries within the Group. The company's shares are listed on Nasdaq Stockholm. For more about LeoVegas, visit www.leovegasgroup.com.
For further information, please contact:
Gustaf Hagman
Group CEO
+46 (0) 8-410-367-66
gustaf.hagman@leovegasgroup.com
Philip Doftvik
Director of Investor Relations and Corporate Finance
+46-73-512-07-20
philip.doftvik@leovegasgroup.com
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