LeoVegas Group Tax Policy
This tax policy is published in accordance with the requirements outlined in Schedule 19 of the UK Finance Act 2016.
LeoVegas Group is a leading international iGaming Group with a vision to create the world’s greatest iGaming experience. The Group offers online casino, live casino, and sports betting via 10 different brands and operates across diverse jurisdictions with a primary focus on Europe.
LeoVegas Group is indirectly wholly owned by MGM Resorts International (NYSE: MGM) and is headquartered in Sweden with the operational hub in Malta. LeoVegas Group extends its operational reach through the establishment of subsidiaries in multiple countries. The Group diligently follows the regulations of diverse jurisdictions, while at the same time placing significant emphasis on upholding principles of corporate and social responsibility.
LeoVegas Group’s focus is to work in locally regulated markets. Engaged in the highly regulated online gambling sector, LeoVegas Group adheres to stringent regulations covering gaming licenses, customer operations, digital payments, anti-money laundering rules, data protection, and more.
Tax and Risk Management
Since LeoVegas Group works at a global level and is active in various regulated markets, several different tax regulations apply for the Group’s operations. The Group shall adhere to all local tax laws in the jurisdictions in which the Group is active. In addition to corporate taxes, the Group’s various companies are subject to payroll taxes, point of consumption taxes, gaming taxes, VAT and more.
LeoVegas Group employs a robust risk governance framework to manage tax risks effectively. The tax risk management process involves the proactive identification, evaluation, control and monitoring of tax risk including, but not limited to, changes in tax legislation, shifts in business operations, and tax considerations related to mergers and acquisitions.
The Executive Management team, with Board oversight, is responsible for identifying, assessing, and managing risks. The in-house tax team, reporting to the CFO, plays a pivotal role in day-to-day tax risk management. The Group seeks external professional advice where necessary to ensure tax positions taken by the Group are accurate and appropriate.
Level of Tax Risk
Operating in a regulated industry, LeoVegas Group places a strong emphasis on long-term sustainable value creation and avoids aggressive tax planning. Board meetings include updates on regulatory changes and assessments of the tax landscape.
Dealing with Tax Authorities
The tax team, supported by external advisers, ensures compliance with tax obligations in all operational jurisdictions. This involves accurate and timely tax filings, managing correspondence and inquiries with tax authorities, and ensuring proper disclosure of transaction tax treatment. LeoVegas Group is committed to conducting all interactions with tax authorities in the spirit of cooperation.