With approximately 14 million inhabitants (39% of Canada's population), Ontario is the most populous province in the country. In recent years, Ontario has undergone a successful and transparent re-regulation process and, in the meantime, LeoVegas Group has established strong brands with a loyal customer base in Ontario and the rest of Canada.
In January 2022 revenues from Canada accounted for 13% of the Group’s total revenues and Ontario generated approximately 35% of the Canadian revenues.
Gustaf Hagman, CEO of LeoVegas Group, commented: “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.”
“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,” Hagman added.
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. The company 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.
Source: GMB
