LeoVegas to enter US in H1 2022 with Caesars market access deal

News  /  Published 17 May 2021  / 

Swedish operator LeoVegas has reached an agreement with Caesars Entertainment to launch its online casino product in the state of New Jersey in the first half of 2022.

Subject to certification from the state’s Division of Gaming Enforcement, the Swedish business will launch its proprietary platform Rhino in New Jersey, with plans to later expand into other US states.

LeoVegas shares were made tradeable on the OTCQX market in March, allowing American investors to buy the shares, in preparation for this opportunity.

LeoVegas CEO Gustaf Hagman said: 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.

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 operator is set to obtain market access through a licence held by one of Caesars’ land-based properties.

New Jersey remains be a popular entry point for operators and suppliers breaking into the US, with Enteractive, Mr Gamble and EveryMatrix all reaching agreements to launch within the state.

LeoVegas noted that New Jersey is the largest online gaming market in the country, after generating over $1bn in revenue in 2020.

 

Source: iGB North America