LeoVegas Q2 revenue up 8% despite difficult UK conditions

By Nathan Joyes

LeoVegas has reported an 8% year-on-year rise in Q2 revenue to €94.4m ($105.6m), despite a challenging period in the UK.

The online casino operator acknowledged difficult regulatory conditions in the UK market, as well as challenges due to re-regulation in Sweden; its organic growth in local currencies was 8%.

This number grew to 26% excluding the UK, with the number of depositing customers up 8% to 334,961, while returning customers had risen to 196,203, a 12% increase.

EBITDA rose just 0.7% to €15.1m, with the EBITDA margin falling from 17.2% to 16%.

LeoVegas CEO Gustaf Hagman said: "LeoVegas is delivering good growth with high profitability in a difficult-to-navigate environment.

"Q2 2019 was our best quarter ever and we continue to take market shares.

"Compared with a year ago, LeoVegas has a more balanced geographic revenue mix. This means we are not as sensitive to challenges that may arise in a specific market, which in turn means we have lower business risk in the group."

TAGS:

Share This Post



NEWS SPONSOR

More News

The Western Australian government will hold a royal commission to examine Crown Perth’s suitability to continue operating. The decision to look into the operations of the Burswood casino and resort comes soon...




This article originally appeared in the January/February edition of Gambling Insider magazine: UK gambling regulation expert Steve Donoughue has some strong views about the Gambling Commission which many may disagree with....