LeoVegas Appoints New Compliance Chief

Mobile gaming group and iGaming industry veteran company, LeoVegas, has recruited Avshalom Lazar as the company's new Chief Compliance and Legal Officer (CCLO). This is done with an aim of strengthening the company's Group Management.

Newly appointed Lazar, who decided to join LeoVegas and leave his current role of Fortuna Entertainment's Group Head of Legal and Compliance, will assume his new role starting in April 2019.

A Lot to Carry on Shoulders

Mr Lazar has over ten years of gambling industry experience and he is very knowledgeable about legal conditions, relevant laws and regulations in various markets. Beside working in Fortuna Entertainment, he was also 888 Holding's Head of Regulatory Affairs and Group Compliance Officer.

His role will include contacting authorities and licensors, developing and leading this area of responsibility on a day to day basis. He will be conducting his work from the company's Malta offices.

Soon after being appointed on his new role, CCLO Lazar was quoted as saying:

"I’m delighted to join LeoVegas. The gambling regulatory and compliance environment is undergoing significant changes in the last few years, posing challenges, but equally so opportunities for leading operators in the industry. I’m confident that together with LeoVegas management we would strengthen the company’s strategy even further while ensuring we act responsible with growth in focus.”

At the Forefront of Compliance

Avshalom's high understanding of demands placed on companies in regulated markets is the asset LeoVegas was after.

This is evident in words of Group's CEO, Gustaf Hagman: “For LeoVegas it is of utmost importance to be at the forefront when it comes to compliance. Guidelines and requirements must be implemented at the same time as we keep our focus on the customer and their gaming experience. Managing compliance effectively is a competitive advantage for operators and it contributes to long term sustainable growth.”

He also went on to remark how, in view of industry's development, the entire company is pleased to have recruited a person of Avshalom's stature as an experienced senior executive “with a proven track record in the industry.”

The company has had a seminal year, with some of the highlights being the acquisition of a new Swedish license for the re-launch of the country's market on January 1st and the colossal €7.8 million jackpot hit in LeoVegas online casino by the anonymous Swedish player.

With the launch of Swedish new regulated market, almost 60% of LeoVegas revenues will be generated from regulated markets.

Going South

Their ambitions extend far beyond the cold, white north – over in sunnier pastures of Spain, the Group is laying foundations for market entry by applying for this country’s license.

Commenting on this licensing process, Hagman said:

“Spain is one of the fastest growing markets in Europe. Through our technology and experience, we can effectively adapt our business to regulated markets regardless of language and regulations. Therefore, we expect to launch in Spain in the first quarter of 2019.”

Source:

“LeoVegas recruits Avshalom Lazar as Chief Compliance and Legal Officer”, news.cision.com, December 18, 2018.