Tag Archives: LeoVegas AB

LeoVegas AB has reported a difficult opening to 2023 trading, having registered a group-wide decline in revenues across key markets.  The new property of MGM Resorts, LeoVegas reported total quarterly revenue of €95m, a 4% decline on previous year income of €98.5m, whilst EBITDA also declined 3% from a Q1 2022 loss of €2m to a deeper loss of €3m. …

LeoVegas AB has published its latest results from the Nasdaq stock exchange after integration into MGM Resorts portfolio, reporting positive trading in Europe although some international markets proved difficult. Total group-wide revenue over the three-month period rose 1% to €99.5m (Q4 2021: €98.2m), although various business costs meant that adjusted EBITDA fell by 77% to €3.7m (€11.6m), with a margin …

LeoVegas AB has announced a new three-member board that will oversee the final procedures of the firm’s pending acquisition by MGM Resorts International.  The board will be led by Gary Fritz as Chairman, who serves as Head of Gaming Investments at IAC a major shareholder in MGM Resorts International. LeoVegas Founder and CEO Gustaf Hagman will also serve as a …

LeoVegas AB has praised the performance of its product portfolio and investment strategy in outriding industry-wide European headwinds, as the Stockholm-listed online gambling group becomes an acquisition target of MGM Resorts.  Publishing its Q1 trading results, LeoVegas registered corporate revenues of €98.5 million, up 2% on corresponding 2021 results of €96.7 million. Excluding Dutch market restrictions, LeoVegas revenue growth increased …

Spillemyndigheden, Denmark’s Gambling Authority, has renewed the operating licence of LeoVegas AB for a further five years, until 2026.  The extension will allow LeoVegas to continue operating its online casino and sportsbook brands for the regulated market of Denmark, which reformed its online gambling laws in 2018. LeoVegas has operated in the Danish market since 2016 and has since become …

LeoVegas AB experienced significant challenges in the German market during H1 2021, contributing to a decline in revenues, although results outside this market were considerably more positive. Publishing its second quarter trading results, the Stockholm-listed operator revealed that its revenue decreased by 13% compared to previous year comparatives – generating €96.8 million (Q2 2020: €110.7m). Group EBITDA also declined to …

LeoVegas AB has launched an appeal against the SEK 2 million penalty (€200,000) issued by Swedish gambling inspectorate Spelinspektionen related to “shortcomings in the work against money laundering and terrorist financing”. Spelinspektionen communicated that LeoVegas had failed to comply in ensuring the risk-based AML safeguards of Sweden’s ‘Money Laundering Act’.  The penalty notice specified that LeoVegas had failed to ‘risk …

LeoVegas AB has agreed to acquire all ‘Expekt Nordics Ltd’ assets from French online gambling operator Betclic Group for a total purchase price of €5 million.  The deal sees LeoVegas take over the management of Expekt – a heritage online sportsbook brand operating across Scandinavian markets since 1999. Updating investors, LeoVegas states that the acquisition has been undertaken to strengthen …

LeoVegas AB has announced its intention to issue a new senior unsecured bond, carrying a minimum value of SEK 500 million (€50m) and maximum liquidity of SEK 1.2 billion (€117m). Returning to market, LeoVegas’ board confirmed that it has appointed SEB and Swedbank to serve as joint bookrunners facilitating the transaction for institutional investors, who will be able to access …