SBC News Record H1 results see LeoVegas AB reap rewards of its enlarged capacity

Record H1 results see LeoVegas AB reap rewards of its enlarged capacity

Publishing its H1 2018 interim results, an enlarged LeoVegas AB declares record revenue and earnings, as the online gambling group benefits from marketing efficiencies and savings implemented during the trading period.  

Integrating the new assets of Royal Panda and Rocket X, LeoVegas reports a 76% increase in H1 2018 corporate revenues to €165 million (€94 million)

Through strategic M&A, LeoVegas has significantly increased its active customer base, reporting Q2 2018 depositing players of + 300,000 (170,000), representing an increase of 79%.

The Stockholm-enterprise, further reports that new depositing customers hit the +130,000 mark (+84%), supported by with + 175,000 in returning players recorded during Q2 2018.

Driven by its enlarged capacity, LeoVegas AB governance declares an H1 2018 EBITA of €24.5 million (H1 2017: 12 million), almost doubling the firm’s ‘adjusted’ operating profit to  €22 million (H1 2017: €12.4 million).

During the period, LeoVegas revamped its group front-end operating platform and further relaunched its sportsbook product on flagship brand LeoVegas.com.

Furthermore, the online gambling group has implemented its social responsibility and fair-play framework ‘LeoSafePlay’ across its active brand portfolio, which will be a guiding discipline for the firm’s enterprise 2020 vision.

Gustaf Hagman, Group CEO and co-founder LeoVegas AB commented on performance:

“A quarter with focus on sustainability and technology The second quarter was one of LeoVegas’ most intense quarters ever. We not only launched a new sportsbook and design in time for the FIFA World Cup – we also adapted to the GDPR, stricter demands for compliance, and the forthcoming regulation in Sweden. These are just a few examples of projects that we have been working intensively with. On top of this, we have worked hard and completed a number of initiatives that will be important over the long term for the Company’s continued growth, for sustainability, and for a new technical platform.”

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