LeoVegas announces launch in the USA

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May 17, 2021, 02:16 ET

STOCKHOLM, May 17, 2021 /PRNewswire/ -- LeoVegas has entered into an agreement to launch the LeoVegas brand in New Jersey, USA. The State of New Jersey will mark the company's first establishment in the USA. LeoVegas will launch with its proprietary technical platform to ensure a world-class gaming experience. The company expects to be able to accept its first US customers during the first half of 2022.

In pace with expectations that the American market will become the world's largest regulated gaming market, LeoVegas is now establishing operations in the USA. LeoVegas will now offer online casino in the state of New Jersey through an agreement with Caesars Entertainment which provides market access.

LeoVegas will use its proprietary technical platform, Rhino, for its establishment in the USA. This strategic choice gives the company full control over the product and will enable a unique and competitive gaming experience for American customers. As part of the process of launching LeoVegas in the USA, the company's platform will be certified by the regulatory authorities in New Jersey.

Gustaf Hagman, Group CEO LeoVegas, comments: "We are proud to finally be able to share our plans to establish ourselves in the USA. We think the time and partner are right to launch 'The King of Casino' in the USA. The American market has immense growth potential, and players are just now discovering online gaming. In the USA, too, we will focus on what we are best at – offering an innovative, world-class gaming experience directly in mobile phones. Establishing ourselves with our proprietary platform is a strategic decision, and we know from other markets that having full control over our technology is a key competitive advantage."

The New Jersey gaming market

The State of New Jersey has a population of approximately 9 million and was one of the first US states to legalise online gaming in 2018. New Jersey's online gaming market is today the largest in the USA, with revenue of over USD 1 billion in 2020. Today the market has more than 20 brands offering online casino in the state, and gaming tax is 17.5% of Gross Gaming Revenue.

RHINO – LeoVegas' technical platform

LeoVegas' technical platform, Rhino, and is one of the leading platforms in the world. It is fully ported to Google Cloud for scalability and stability. The platform is developed for multiple brands and currently handles more than ten brands and is licensed for seven jurisdictions. Rhino handles more than 60 game integrations from casino providers (both directly and via aggregators), sports books and more than 30 payment service providers including support for Open Banking.

Presentation and Q&A session – today at 10 a.m. cet

A conference call will be held today at 10 a.m. CET, offering the opportunity to hear more about the launch in the USA and also to ask questions. The conference call will also be avaliable on demand. To participate, please ring any of the following numbers: SW +46 (0)8 50 69 21 80, UK: +44 (0)20 71 92 80 00, US: +1 631 510 7495, and use the confirmation code: 2646837, or follow the call via the web https://edge.media-server.com/mmc/p/nwurx6zh

This information is such that LeoVegas AB (publ) is obligated to make public pursuant to the EU Market Abuse Regulation 596/2014. The information in this press release was published through the agency of the contact persons set out below at the time stipulated by LeoVegas AB's (publ) news distributor Cision in connection with publication of this press release.

For further information, please contact:

Gustaf Hagman, Group CEO
+46 (0) 8 410 367 66, [email protected]

Stefan Nelson, Group CFO
+356 993 942 68, [email protected]

Philip Doftvik, Director of Investor Relations and Corporate Finance
+46 (0)73 512 07 20, [email protected]

About LeoVegas mobile gaming group:

LeoVegas vision and position is "King of Casino". The global group LeoVegas Mobile Gaming Group offers games on Casino, Live Casino, Bingo and Sport. The parent company LeoVegas AB (publ.) is located in Sweden and its operations are mainly located in Malta. The company's shares are listed on Nasdaq Stockholm. www.leovegasgroup.com

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LeoVegas announces launch in the USA

SOURCE LeoVegas Mobile Gaming Group