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LeoVegas: Information regarding the changing circumstances in Norway

George Miller

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LeoVegas: Information regarding the changing circumstances in Norway
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In LeoVegas financial targets of at least EUR 600 million in revenue in 2020 and at least EUR 100 million in EBITDA in 2020, that were presented on April 19th, it has been taken into account that market conditions can change. The announcement yesterday about the proposal in the Norwegian Parliament is an example of changing conditions that LeoVegas’ strategic planning has made room for.

LeoVegas strives to be a transparent company and therefore chooses to disclose the size of the Norwegian market in order to increase understanding of the potential impact. In March 2018, the Norwegian market accounted for 4.6% of LeoVegas total revenues. Regardless of the outcome the development in Norway, it does not affect LeoVegas financial targets.

“There are still no details about the proposal, but in all industries,  one can expect that the conditions can change. Some markets are closed and others are opened and regulated. Norway currently has no local licensing system, and instead of prohibition, I hope Norway will move towards a local regulation similar to the one we see in Sweden.” – says Gustaf Hagman, CEO LeoVegas Mobile Gaming Group.

LeoVegas has for a long time been very clear in welcoming regulation and the Group’s strategy is to expand in regulated markets and markets that are soon to be regulated.

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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Industry News

Paf adopts Swish for faster customer transactions in Sweden

George Miller

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Paf adopts Swish for faster customer transactions in Sweden
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Paf adopts the popular payment method Swish used by 6.7 million Swedes. In the first month of the newly-regulated Swedish gaming market Paf has adopted what is said to be the fastest payment method available in Sweden.

Swish uses mobile telephone numbers to make transfers and is currently used by around 6.7 million Swedes and 180,000 business.

Paf CEO Christer Fahlstedt says: “Swish is without doubt the favourite way for Swedes to transfer money. Our site already offers Swedish players games they can’t get anywhere else. And now our Paf gaming account also offers the speediest payments available. We fully expect the strong growth we experienced in Sweden in 2018 to continue.”

Paf has been operating online in Sweden for 18 years and was granted the maximum possible 5 year licence for the newly-regulated market beginning 1 January 2019.

 

 

About Paf:

Paf is a Nordic gaming company founded on Åland in 1966 to generate profit for the benefit of society. We were one of the very first gaming companies to go online in 1999. Many of our games on Paf.com are exclusive to Paf and developed by our in-house Games Studio. We are an award-winning industry leader in responsible gaming. Our physical gaming operations include over 30 cruise ships criss-crossing the Baltic and North Seas.

Paf has roughly 400 employees representing over 30 nationalities. Our offices are located on Åland, in Helsinki, Stockholm, Riga, Tallinn, Oslo, Norrköping and Madrid. Paf (Ålands Penningautomatförening) is licensed and controlled by the Government of Åland.

In 2017, the Paf Group had a total revenue of 116.5 million euros and a profit of 29.4 million euros.

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Baltics

Lolita Sumskaite (Head of Unit at Ministry of Finance, Lithuania) to speak at MARE BALTICUM Gaming Summit 2

Zoltan Tundik

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Leading industry expert responsible for designing the national gambling policy in Lithuania through legislation for more than 17 years, set to join the “Gambling Industry in Lithuania” (Compliance Panel Discussion) at the second edition of the most important gambling industry conference in the Baltic and Scandinavian region.

We are honoured to announce that Ms Lolita Sumskaite will represent the Ministry of Finance of the Republic of Lithuania at MARE BALTICUM – The Baltic and Scandinavian Gaming Summit 2019, which will take place on 9 May 2019 at Radisson Blu Royal Astorija Hotel.

Lolita Šumskaitė is working for the Ministry of Finance of the Republic of Lithuania and was responsible for designing the national gambling policy in Lithuania through legislation for more than 17 years. She was the main author of the first Law on Gambling, which was adopted in 2001. Lolita is a member of EC Expert Group of Gambling Services.

Since 2010, her responsibilities also include insurance – designing insurance policy through legislation and her main responsibility is to implement EU regulation into national legislation.

Starting 2013, she is responsible for anti-money laundering acts – following and participating in the negotiations in the EU Council on the text of Anti Money Laundering Directive, preparing LT positions. Lolita was Chair of the EU Council’s Working Party discussing fourth Anti Money Laundering Directive during LT Presidency of the EC.

MARE BALTICUM – The Baltic and Scandinavian Gaming Summit will once again bring together the leading companies in the Baltic and Scandinavian region for a full day of quality learning and networking with local regulators and industry experts.

You can find more details about the Agenda here or you can register here!

Browse the official event website here: www.marebalticumgaming.com

You can view the photo gallery from the inaugural event on the following this link.

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Industry News

Zitro Video Bingo arrives in Monte-Carlo

George Miller

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Zitro Video Bingo arrives in Monte-Carlo
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Zitro has installed its Video Bingo machines in the emblematic Monegasque casino Café de Paris, operated by the prestigious Société des Bains de Mer (S.B.M), which also operates the legendary Casino de Monte-Carlo, as well as the other two gaming establishments of the Principality of Monaco. It is the first time that this type of game, of which Zitro is a world leader, comes to the Principality.

Pascal Camia, Executive Vice-President of Gaming Operations, said: “Bingo video games are a distinct and innovative concept, and that is why we want to offer our customers this type of product, unknown until now in Monaco. We thought it was best to introduce video bingo in our operation in the hands of the largest specialist in the market in this type of machines. We are convinced that, thanks to the Zitro video bingo, our customers will find new experiences, excitement and entertainment”.

For her part, Nadège Teyssedre, Regional Director for EMEA, said: “At Zitro, we are enormously grateful to the Casino Café de Paris for its commitment to our product, totally unknown in this market. We are convinced that the expectations deposited in our video bingo will be exceeded, and we trust that this will help us in future to have a growing presence of our products in the casinos of Monte-Carlo S.B.M., a casino operator of reference in Europe and around the world.”

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