LeoVegas Sets Eyes On The New Jersey Betting Market

LeoVegas is one of the most award-winning betting platforms and now plans to move forward into new potential markets.

After completing an agreement with the successful US firm Caesars Entertainment, LeoVegas now sets sights on the launch of its online betting platform in the New Jersey betting market.

Indicating its first expansion in the United States gambling industry, LeoVegas is highly hopeful to expect its American customer around the first fall of the year 2022. LeoVegas indicates to facilitate its stateside drive via its technology platform.

The famous gambling brand will take the advantage of its Rhino platform which looks up to 60+ game integrations with the casinos and sportsbooks and is fully portable on the Google Cloud. LeoVegas formulates a strategic commercial plan to cling to control over the products and provide a unique and competitive gaming experience for its new American gambler.

To launch the online casino service of LeoVegas in the United States, the company needs to go through the authentication process with the authorities of New Jersey and get the license to operate.

New Jersey’s online gambling market is predicted to be the largest in the United States. The market recorded over $1 billion in the year 2020. There are more than 20 brands in New Jersey that offers an online casino platform. The gaming tax on the gross gaming revenue of an online casino is up to 17.5% in the jurisdiction.

Gustaf Hugman, Group CEO of the LeoVegas said, “We are extremely proud to finally be able to share our plans to establish ourselves in the United States of America. We believe that the time and the associated partners are right to launch the ‘The King of Casino’ in the United States.”

He adds, “The American online gambling market has immense growth potential, and players are just now started to take more interest in online gambling.”

In the United States, LeoVegas has plans to focus on the things they are best, which is offering an innovative and top-notch gaming experience directly on mobile phones for greater accessibility and joy.

Gustaf Hugman claims, “Establishing LeoVegas with the propriety platform is a strategic decision, and we know from our other ventures that having full control over our technology is our key competitive advantage.”

Q1 Trading sees great potential in LeoVegas; however, the Stockholm-listed operators noted that the regulation has a great impact on its growth in the Swedish market, and high compliance cost hampers its performance and cost in German Market too.

Caesars Entertainment showcased the second international integration of the European gambling operators by having a partnership with LeoVegas. Caesar Entertainment has a $2.9 billion takeover of the British sports betting and gaming firm William Hill in April 2021.

In May, Tom Reeg, Caesars Group CEO confirmed with investors that all the acquired William Hill wagering properties from the United States will be rebranded as the new Caesar wagering identification. The revelation of the rebranded properties will be done by September during the new NFL 2021/2022 season.