LeoVegas asks Norway to re-consider igaming payment ban

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LeoVegas, a Malta-based mobile gaming company and provider of online casino and sports betting services of Swedish origin, has urged the Norwegian Gaming Authority to reconsider its decision to block igaming payments. The company said Norway’s move will not affect its financial targets but asked Norway to consider the possibility of adopting the regulatory model in Sweden.

Norway’s government looks set to implement measures to protect its state-owned Norsk Tipping gambling monopoly, which include ordering banks to stop processing payments to international operators.

LeoVegas, whose Norwegian market share is 4.6%, already took into account Norway’s proposals within the company’s strategic planning.

Gustaf Hagman, CEO of LeoVegas, said: “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.”

Source: European Gaming Industry News

After starting out as an affiliate in 2009 and developing some recognized review portals, I have moved deeper into journalism and media. My experience has lead me to move into the B2B sector and write about compliance updates and report around the happenings of the online and land based gaming sector.