The group was notified of the registration by the Alcohol and Gaming Commission of Ontario, describing the move as an “important step in the province's licensing process.”
The next and final step involves entering into an operating agreement with iGaming Ontario, which is possible once the group has completed the necessary onboarding steps.
The company aims to offer casino, live casino and betting in the province under the brands LeoVegas and Royal Panda.
“The Ontario and North America expansion is in line with LeoVegas Group's strategy to grow in locally regulated markets and soon-to-be regulated markets,” a statement from the company read.
“LeoVegas Group has also announced plans to launch in the United States later this year, beginning with the state of New Jersey. In Q4 2022 the group’s revenues from locally regulated and taxed markets represented 74% of total revenues.”
LeoVegas Group added that it has established strong brands with a loyal customer base in Ontario and throughout Canada, with revenues from the country accounting for 13% of the group’s total revenues in January 2022.
“Over recent years, the LeoVegas brand has become the third most well-known casino brand in the Canadian market and Royal Panda has shown strong growth - a clear sign that the mobile gaming experience we offer is appreciated by North American customers,” said LeoVegas Group CEO Gustaf Hagman.
“Our full focus now is to complete the process and we look forward to launch in a regulated environment. Given our track record and knowledge to operate in regulated markets we continue to have high expectations and ambitions for continued growth in the Ontario market.”
