LeoVegas Targets US For Sports Betting

September 10, 2018 by

Online operator LeoVegas has told reporters that they are considering branching out into the newly opened US sports betting market, but has also admitted that there are still many factors that need to be considered before they make the move.

The operator, which has seen large growth in the sports betting market within the last few months, has recently put more focus on their sports betting departments. Their sportsbook earned 8% in total revenue for the operator for the second quarter of 2018, with the FIFA World Cup having a much larger impact than previously imagined. The success was part of the operator’s plan to invest large amounts of their funds into marketing for the international tournament.

The recent spur of activity in the US sports betting market comes as the NFL American Football season is about to start. The American Gaming Association in a recent report stated that the NFL could see annual revenues increase by $2.3 billion thanks in large part to the now legal, regulated betting market.

Group chief executive of LeoVegas, Gustaf Hagman, told reporters that their expansion strategy is to break into as many regulated markets as possible, and to carry out complementary and strategic acquisitions in the future.

Like many other operators, LeoVegas recently applied for a gaming licence in Sweden, where the governmental gaming authority’s re-regulation of gaming policies within the country has opened the floodgates for all internationally-based betting operators, LeoVegas has hinted that their next target may be Spain.

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