The Italian gaming industry appears understandably glum in the face of the upcoming ban on all gambling advertising that’s set to go into effect in Italy at the beginning of next year, but Swedish provider LeoVegas is taking a more upbeat approach. The company’s second quarter report revealed a rise in revenue of over 75%, and in it they have also sought to reassure shareholders that they are taking steps to combat the ban.
LeoVegas have already been active on the matter. In July, they put through an official complaint with the European Commission, arguing that the ban is in direct conflict with EU laws concerning freedom of trade.
“We firmly believe that such a ban would benefit unlicensed actors, and a debate has now ensued about this, where LeoVegas is engaged and is trying to educate politicians about what we as licensed operators are doing in the areas of sustainability and responsible gaming,” the Q2 report reads in part.
“The outcome of the proposal is highly uncertain at present, and we are monitoring developments closely.”
Some might argue that the phrase “educate politicians” is hardly going to win them many friends in government. Remember, however, that the target audience for this document is the firm’s shareholders, not politicians or the public. Expect the firm to pick their words with more care when addressing Italian MPs directly.
Looking at the political landscape, it’s probably too much to hope that enough politicians will come around on this subject. There seems to be enough motivation in the direction the government is taking, that a big turnaround seems highly unlikely at this stage; Google Adwords and Facebook have both already banned Italian-facing gambling ads from their platforms, indicating a good degree of confidence on their part that it will go ahead. Still, while there’s a chip and a chair, there’s a chance. LeoVegas certainly has plenty of both.
