LeoVegas sets 2018 revenue target

The operator revealed its revenue grew organically by 76% year-on-year in H1 to €60.5m, though an operating loss of €4.3m was recorded, increasing from a loss of €600,000 in the same period a year ago.

LeoVegas is yet to post a quarterly revenue decrease since its launch in 2012.

For Q2, deposits went up 79% to €100.6m, while the number of depositing customers soared by 147% to 176,635.

One of the few low-points for Q2 was that negative EBITDA of €260,000 was reported.

A highlight of the period was the launch of LeoVegas’ sportsbook product in May, shortly before the start of Euro 2016, and over 5,000 customers placed a bet with LeoVegas on the final of the tournament.

LeoVegas Group CEO and co-founder Gustaf Hagman said: “Deposits in the second quarter passed the milestone of 100 million, an increase of 25% compared with the previous quarter. The quarter has been eventful with long-term market investments and successful launches of LeoVegas Sport and LeoVegas Live Casino, which has resulted in strong growth in new customers and a strong opening of Q3.”

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David Cook

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David Cook served as an editor and writer for Gambling Insider from 2018 to 2020, where he played a central role in shaping the publication’s editorial direction. He oversaw the creation and implementation of the broader editorial strategy for Gambling Insider and its related publications, managing the production of 30 print magazines annually while also contributing to the management of GamblingInsider.com and a weekly digital newsletter.

During his tenure, David led the publication’s largest editorial team to date, guiding its expansion and ensuring consistent, high-quality output across all channels. He also hosted and helped launch the GI Huddle podcast, a project he was proud to bring from concept to reality.

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