01.022018Nasdaq Stockholm Approves Leo Vegas’s Listing
Swedish Casino Operator and Games Aggregator, Leo Vegas has confirmed in a press release about its approval from the Nasdaq Stockholm Market. The firm is expected to collect windfall investments through this listing, which will be used to expand its operations in European markets. The board of directors of Leo Vegas submitted an initial prospectus to the Swedish Financial Supervisory Authority, which is the principal body for financial regulation in Sweden. The prospectus was submitted in September 2017 and it detailed out the financial health of the company. The Swedish Financial Supervisory Authority examined the viability of the listing and gave its formal approval on 31st January 2018.
The approval will have to be complemented with customary conditions, that is expected to be completed shortly. This paves the way for a mock trading session on the Nasdaq First North platform, from 2nd Feb 2018, which is a Multilateral Trading Facility (MTF) and doesn’t carry any legal status. The actual trading of Leo Vegas’s slots will start from 5th Feb 2018, when the stock ticker gets listed on the main Nasdaq Stockholm Market. After the listing, Leo Vegas is expected to have a greater brand value and outreach in the iGaming community. The company’s CEO, Gustaf Hagman expects a boost in investments, that will help expand its regional market.
The regional expansion plans of the company have already started to materialize. After breaking-up of the $141.4 million-takeover of RoyalPanda.com, Leo Vegas AB has started to focus on acquiring Intellectual Property and Software Limited, which will give it a boost over the UK markets, especially in the Bingo and Slots section. The $90 million deal is all set to finalize in the coming month and Leo Vegas will take control of brands like Bingo Stars, BetUK.com, SlotBoss.co.uk, Pink Casino, Slot Mob, MCasino, etc. Gustaf Hagman, CEO of Leo Vegas, considers the UK Gambling market to be “very large and mature” and said, “With this acquisition, we are adding a company culture with a strong technology and product focus which is a perfect fit with Leo Vegas' to further strengthen the group's position as the leading GameTech company.
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