The Swedish Gambling Authority has approved LeoVegas-owned Pixel
Digital Ltd a five-year gambling license, for both online casino and
sports betting.
This is the second license LeoVegas Group has been issued in Sweden and pixel.bet is due to go live today.
Pixel.bet offers esports betting, casino and live casino and saw 51%
of its shares acquired by LeoVegas for €1.5m ($1.7m) in September 2018.
Sweden and the Nordics will be the markets focused on for now, with long-term plans to expand internationally.
Earlier this month, LeoVegas decided to push back its financial
targets to 2021, despite its consolidated revenue growing 51%
year-on-year to €327.8m in 2018.
Eirik Kristiansen, CEO at Pixel Digital, said: "With this license we
gain the opportunity to offer our product and passion for esports
betting to the Swedish market. This springboard in Sweden will also
position us for continued expansion internationally."
Gustaf Hagman, LeoVegas CEO, said: "During a year of focus on strong
growth but also on cost efficiency, it is inspiring to see pixel.bet is
developing well and that we can benefit from our economies of scale with
the sharing of resources and knowledge between our companies."
Source: www.gamblinginsider.com