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Profitable Q1 for LeoVegas despite legislation changes in core markets

6 May 2019

Leo-Vegas-Sport-profitable-q1Legislation turbulence in the UK and Sweden in 2019 was not enough to bring down profitability for Leo Vegas Group, which came out positive according to official statements of the group. Q1 saw the group achieving €86 million in corporate revenue, which signals a 12% increase compared to Q1 of 2018. Individual metrics are also looking good, with "First-time depositors" going up by 23%, while returning players were increased by a noteworthy 26%.

LeoVegas Reaping the Benefits of Compliance

The recent opening of the Swedish market to international operators that want to acquire a license saw Leo Vegas boosting its investment in the region even further, intending to be on the frontline of Swedish brands. Specifically, the group has upped their game in Sweden in areas such as customer support, marketing as well and player management, putting a lot of value on customers in the area.

Moving on to the UK market and its increasingly stricter regulations, especially towards the end of 2018, LeoVegas views the situation as quite demanding to keep up with the constantly tightening framework. The group is also in the process of prioritizing the compliance of all its subsidiaries, such as Royal Panda, with the new regulations in the UK.

Some interesting earnings stats for Q1 is gaming duties which rose to €11,5 million as well as the EBITDA of the LeoVegas Group that rose to a €7.2 million with a 8.3% margin.

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LeoVegas is an established bookmaker that has been online since 2016. It has proved itself in terms of reliability by acquiring several Tier 1 licenses and partnering up with top football clubs. Even though the number of events on the website is generally low, I appreciate the overall payout. You can find dozens of special markets, and essential tools are available. I also liked the fact that it pays a lot of attention and knows how to reward loyal players through the VIP Program. This doesn’t mean there are no drawbacks. Strict regulations mean that crypto is not accepted, and the service is restricted in most countries worldwide. What’s more, navigation is difficult, especially if you are a new user. Finally, I would like to see the winning and withdrawal limits increased sooner than later. Overall, LeoVegas is a solid and trusted alternative for sports betting. Feel free to give them a try.

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