Published
OnlineFinancial

LeoVegas Q3 revenue up despite “difficult-to-navigate environment”

LeoVegas revenue was €88.2m ($97.6m) for Q3 2019, a rise of 12% year-on-year.

LeoVegas

EBITDA was €12.7m, an increase of 41%, while operating profit was €6m, up 71%.

The operator saw a decrease of 4% for new depositing customers, at 135,019, and an increase of 12% for returning depositing customers, totalling 199,023.

Revenue for the year-to-date was €269m, an increase of 11% from 2018.

LeoVegas’ Swedish license was recently extended to the maximum five years after a Swedish court overturned its two-year license limit.

Following the decision, the operator said its returning customers in the Swedish market are at an all-time-high.

Last month, LeoVegas, and its subsidiary Royal Panda, received fines totalling €750,000 after the Dutch Gambling Authority found both sites were accessible with a Dutch IP address.

Gustaf Hagman, President and CEO of LeoVegas, said: "We continued to show progress during the third quarter in a difficult-to-navigate environment and generated double-digit growth in both sales and operating profit.

"Greater regulatory complexity in several of our main markets has given rise to certain short-term challenges but is also raising the barriers to succeed in the sectors which benefit established companies.

"We continue our efforts to execute our strategy of innovation, expansion and profitability."

Premium+ Connections
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium Connections
Consultancy
Executive Profiles
Soft2Bet
Scientific Games
Digitain Malta
Follow Us

Facing Facts: Q3 2024 analysis

Gambling Insider takes a look at the Q3 results of operators...

Taking stock: The final count of 2024

Gambling Insider tracks operator and supplier prices of some...

CEO Special: Flutter CEO Peter Jackson – Playing to win

As the biggest publicly traded operator in gambling meets th...

CEO Special: Holland Casino CEO Petra de Ruiter – High flier

Petra de Ruiter, Holland Casino CEO, speaks to Gambling Insi...

A welcome from your host

A message from the Founder of the Global Gaming Awards and G...

From the event manager

A message from the Event Manager of the Global Gaming Awards...

From the Awards adjudicator

KPMG in the Crown Dependencies is the official voting adjudi...

The process

The Global Gaming Awards have deservingly earned the reputat...