LeoVegas’ Figures Going Up in the First Half of 2017

Publish: 24.08.2017

Stockholm-headquartered online gambling operator LeoVegas has published the figures for the first half of the year, which reveal a strong growth during this period.

The company’s executives expressed their satisfaction with what had been done so far, and added they were confident LeoVegas would reach its 2017 targets and expectations.

The Numbers

The mobile-focus gambling company recorded net gaming revenue of $109.6 million in the first half of 2017 – a 55% year-on year increase. During the same period of last year, LeoVegas managed to earn $70.7 million.

Key performance indicators show improved results in customer retention. The number of returning depositing players went up by 49.5% to 100,020. Such a result was achieved by implementing new bonus strategies, which in turn improved player values.

LeoVegas stated the operating profit in the first half of this year reached $1.4 million, which is an excellent result when compared to the company’s 2016 losses of around $112,000.

The growth trend continued in the second quarter of the year, with revenue, EBITDA, EBITDA margin an operating profit recording an increase.

Looking Forward

The Danish online gambling market was named as one of the key factors in recent growth, while the operator remains confident of its positions in the mobile sector. Android App launched on Google Play this month should support this claim.

Commenting on the corporate performance in the first half of 2017, LeoVegas’ Chief Executive Officer, and one of the founders of the firm, Gustaf Hagman said he was more than confident the company would lead the industry into the mobile future.

Hagman stated LeoVegas had clearly taken the position as the most innovative company in the mobile sector, a added the results in 2017 were the best proof of its strategy and commitment.