LeoVegas Reports Record Figures For Q4
Swedish online gambling operator LeoVegas recorded impressive numbers with Q4 revenues of by two thirds in the three months ending December 31 to €67.8m. On the negative side earnings fell 395 to €6.1m and operating profit fell by 78% to €2.1m due mainly to the acquisition of UK facing online operator Royal Panda in October.
Overall earnings for 2017 were up by 43% to €217m with operating profits increasing by 36% to €19.9 million. The beginning of 2018 is showing positive signs with revenues up 76% from same period last year to €24.8m.
CEO of LeoVegas was delighted at the Q4 quarter and said that it was one of the best performing quarters of all time with a growth rate of 82% and more impressively new depositing customers went up 50%to reach a record 128,409.
Hagman went on to emphasize that they planned to strengthen their sports betting offering in line with the FIFA world cup. The German market is also key to Leovegas Strategy with their recent €2.6m acquisition of Malta Based World of Sportsbetting LTD who holds licences in Schleswig- Holstein as well as an approved sports betting licence in Hesse. Hagman sees the new German license as essential for them to increase their barns with well-known media partners.