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%.

The recent opening of the Swedish market to international operators that want to acquire a license saw Leo Vegas boosting up its investment in the region even further, intending to be in the frontline of Swedish brands. In specific, the group has upped their game in Sweden in areas such as customer support, marketing as well as 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.

Why choose LeoVegas Sports

The best mobile bookie 2019
  • High average payout of 95% +
  • Best odds guaranteed on UK & Irish horse races
  • Live streaming feature
  • Sportsbook platform from Kambi
  • Quick mobile site and apps
  • Lots of special bets
  • Brentford FC and Norwich FC sponsor
  • 24/7 customer support
Play now
Up to £100 Extra Profit
BOOK SPY
BOOK SPY BONUS REVIEW

LeoVegas Sport is slightly new in the sportsbook industry, but they already knew that they had to follow the steps of their successful casino heritage. They mainly target the Nordic, UK and German markets, but I would like to see them broaden their reach even more. The bookie's impressive improvement is shown through the doubling of its depositors within a 12month time frame, reaching 200.000 active customers. The odds, especially in Premier League, can be compared to Bet365's and as it was expected, the mobile services are their powerhouse, while Kambi's presence as the creator of the platform guarantees stability. LeoVegas will have to add more payment methods to be more flexible and speed up the slow withdrawal process. Although they have to work more on the live betting part, they are a book that's definitely a keeper.

10,000+ have already benefited from Bookmakers.bet

Register to our newsletter and be the first to get our exclusive bonuses and promotions. Fill in your name & email and stay tuned on the latest offers and the new bookmakers in your country.

I agree with the terms of use.

BOOK SPY

The Swedish gambling regulator, Spelinspektionen, has submitted new regulatory changes for football betting to the National Board of Trade, aiming at ...

Read more »

Norsk Bransjeforening for Onlinespill (NBO), simply known as the Norwegian Industry Association for Online Gaming, has requested the national authorit...

Read more »

The Ukrainian government has recently shut down the domains of 59 international online gambling operators, despite the fact that the country’s efforts...

Read more »

Denmark’s gambling regulator, Spillemyndigheden, has blocked access to 16 websites that were offering their gambling services without a license. The r...

Read more »

The European Gaming & Betting Association (EGBA) has released the first pan-European Code of Conduct for responsible advertising of online gamblin...

Read more »

The Malta Gaming Authority (MGA) has signed a data-sharing agreement with the International Cricket Council (ICC) in order to combat match-fixing in a...

Read more »

888 Holdings PLC has announced a 6% year-on-year increase in revenue to a record high of $560.3m for 2019. According to its financial results for the ...

Read more »

In January the United Kingdom Gambling Commission announced that all players residing in Britain will be banned from using credit cards for gambling. ...

Read more »

The United Kingdom Gambling Commission (UKGC) has announced the suspension of the licenses of two online operators with immediate effect, as they fail...

Read more »

The sports betting technology provider SBTech has been targeted by hackers and that led to the disruption of access to several bookmakers that use its...

Read more »