LeoVegas has stated that the Norwegian Gaming Authority’s move to block igaming payments will not affect the company’s financial targets, while urging the country to consider adopting a regulatory model similar to that found in Sweden.
Norway’s government has proposed measures to protect its state-owned Norsk Tipping gambling monopoly, with the aim of ordering banks to stop processing payments to international operators.
LeoVegas, targeting €600m in revenues by 2020, already took into account Norway’s proposals within the company’s strategic planning, also stating that in March 2018, the market in the country accounts for 4.6 per cent of total revenues.
"There are still no details about the proposal, but in all industries, one can expect that the conditions can change,” said Gustaf Hagman, CEO of LeoVegas Mobile Gaming Group.
“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.”
