Germany Grants LeoVegas Nationwide Online Slot License
by: 바카라사이트
The game operator LeoVegas recently received a new license that can change the game rules for the company and the market. The company can now offer and sell slots online throughout Germany.
The United German gambling agency (GGL, abbreviated GGL) recently approved the license of its subsidiary LeoVegas LVS Sports Limited. Under this license, the company can now provide slots and marketing services to all sixteen states.
This is one of the first major permits since MGM Resorts International acquired the company last year.
When Germany introduced the Fourth Interstate Gambling Treaty (ISG), it may have envisaged a systematic launch of iGaming across the country. The bill contributed to solidarity between state gambling laws. But some states perceived it as something that they could completely abandon online games.
As a result, the expansion of online games has become slower than expected, and regulators slow down the licensing process, and the government accelerates attacks. Although online poker has recently begun to appear, most of them are still available online slots.
Leo Vegas took the lead
GGL was acquired earlier this year. This created a shared environment with different gambling regulators.
However, not all states in Germany are happy with the implementation of changes in the online game. For example, in mid-January, Mecklenburg-Worpommen leaders generally chanted the offensive of GGL and online games.
Council Chairman René Domke argued that the existence of GGL does not mean that state governments should comply with GGL. He added that the introduction of single gambling rules to include online games does not automatically force individual states to accept them.
This can be a painful place as it uses a new Leo Vegas license.
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Leo Vegas’s sales decline
Shortly after the acquisition of MGM Resorts, Leo Vegas did not see significant positive changes in earnings. In the fourth quarter of last year, gross revenues grew by 1%, but operating losses amounted to EUR 2.5 million ($2.7 million). A year ago, he earned 6.1 million euros (6.5 million dollars).
The main cause of the loss was operating expenses, which increased by 56% compared to the previous year. Due to rising labor costs and taxes, operating expenses amounted to из16.5 million ($17.7 million).
The new licenses in Germany will allow Leo Vegas and other European countries such as Spain and Sweden to see significant achievements. First, it will be necessary to fight against Germans who are not excited about the prospects of online games.