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LeoVegas announced an increase in its total revenue

12 Nov 2021

leovegassport_vertikal_black-700x350Despite the new regulation in Germany and the Netherlands LeoVegas, the Nasdaq-listed group, announced a 12% increase of its total revenue in the Q3 trading update. This success was helped by the rise of the company in other countries like Italy, Sweden and Spain.

More Profits Despite Restrictive Measures

“All key markets performed well during the quarter, where our home market in Sweden was the brightest star. The favourable revenue growth for the Group confirms that the strategy to simultaneously scale up a number of markets and relaunch the Expekt brand has been a success. The company today is more diversified than ever, and we have succeeded in compensating for the sharp drop in revenue in Germany.” CEO and President Gustav Hagman mentioned.

The last quarter could be characterized as an ‘intensive re-regulation period’ since the regulatory framework on the Dutch online betting market combined with the re-regulation of the German market with the launch of the Fourth Interstate Gambling Treaty brought changes in the gambling market. LeoVegas disclosed that total revenue rose by 21% when both markets were discounted.

Sweden was identified as the biggest asset for LeoVegas by  Hagman because the company was able to successfully leverage its newly acquired Expekt brand. Moreover, the group maintained confidence in its Swedish activities. This is based on the fact that the Swedish government will end temporary restrictions on online casinos on 14 November.

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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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