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Compliance Updates

Swedish Gambling Authority decides on warning and sanction fee for LeoVegas

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Swedish Gambling Authority decides on warning and sanction fee for LeoVegas
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LeoVegas was today issued a warning and sanction fee of SEK 2M  (cca: 195K Euro) by the Swedish Gambling Authority. According to the regulator, the company is considered to have been in breach of certain customer due diligence routines with respect to its Swedish customers, during the first year of the Swedish market being regulated (2019). LeoVegas intends to appeal the decision.

The Swedish Gambling Authority today announced a decision to issue LeoVegas Gaming plc a warning and sanction fee of SEK 2M pertaining to a supervisory case from 2019 concerning the company’s customer due diligence routines for Swedish customers. According to the case, the Swedish Gambling Authority has only reviewed the company’s routines in 2019.

LeoVegas is continually developing its policies to ensure compliance and had already before today’s decision changed and updated its customer due diligence routines.

LeoVegas intends to appeal today’s decision in order to allow a court to review the matter and give the entire industry further guidance on how the current regulation is to be interpreted.

LeoVegas has 14 brands and licences in eight separate jurisdictions. Each year the company is subject to numerous audits and reviews by local supervisory authorities and external auditors. Compliance has top priority at LeoVegas and is an area that the company is continually developing in order to meet the requirements that the regulators – but also the company itself – puts on its operations.

George Miller started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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