LeoVegas Receives a Hefty Fine By SGA

Last updated on February 10th, 2024

LeoVegas, one of the leading gambling providers worldwide, receives a 2 million SEK ($240.000) fine by the official Swedish Gambling Authority, or short SGA. The fine comes with an additional warning, in order to prevent similar discrepancies in the future. Moreover, there are severe motives behind the actions of the SGA. More specifically, breaching certain customer rules and guidelines against Swedish customers in 2019.

Consequently, the year that the Swedish gambling market was fully regulated. Meaning that this is an older case. And this definitely speaks about the already fearsome reputation that the SGA enjoys in Sweden. And it only goes to show how far the SGA is willing to go, in order to fully control the market.

However, it seems like LeoVegas won’t go down without a fight, and oppose the SGA fine. Even more so if we take look at what they have to say about the matter. LeoVegas states that they are constantly altering and developing their customer policies, in order to fully comply with Sweden’s gambling regulations.

Additionally, LeoVegas claims that since the regulation they have adapted to the new legislation and rules. Thus changing their customer-due diligence routines and overall approach. Consequently, LeoVegas is willing to take matters into court, in order for official court representatives to review the matter. In addition, Leo Vegas will ask for the court to provide official guidelines on the current gambling regulations, in order to prevent such cases in the future.

LeoVegas gave the following official statement concerning this matter:

Compliance has top priority at LeoVegas and is an area the company is continually developing in order to meet the requirements the regulator, but also the company itself, puts on its operations.

LeoVegas Representative Official Statement

The warning, together with the fine comes as a bit of shock for the gaming fan. Especially if you know what kind of a casino house Leo Vegas is, and the reputation that it precedes it. The LeoVegas company currently owns 14 brands and holds the most valued licenses in the gambling world. This is in addition to the fact that those licenses are for eight different jurisdictions. Moreover, Leo Vegas holds quite the reputation among gamblers. As a matter of fact, it is famous for being one of the most legit and up-to-date casino houses in the gambling scene. This eventually results in one of the most sought-after casinos at the moment.

So naturally, it baffles us how a giant such as Leo Vegas ended up in this mess. And it only speaks about the harsh nature of the SGA, and how important is to implement the rules. Regardless of the size of the company, the rules apply the same to everyone. We can only wait to see how this situation will unfold.

And if the claims of Leo Vegas will stand in court, should the matter ends there. Given that every story has two sides. Hence we can only get to that point by hearing what LeoVegas has to say. Until then, we are left to see if anyone else will end up on the review list of the strict SGA.