LeoVegas Reveals Record Growth in 2016
Online casino and sports betting venue LeoVegas has enjoyed rather successful twelve months in 2016, which brought a great birthday present for the company celebrating its fifth anniversary this year.
The mobile gambling operator announced a record yearly revenue growth for the period from 1 October to 31 December 2016, as well as for the full 2016.
The 2016 was confirmed to have amassed the largest organic growth ever registered on a global scale which exceeds $61 million. The whopping amount represents a 70% year-on-year revenue rise.
What is more, the financial reports claim that earnings before interest, tax, depreciation and amortisation (EBITDA) soared from $1.92 million to $22.6 million with an adjusted margin of 15%.
Positive performance in the fourth quarter of the year resulted in revenue jump of 50%, which in great deal influenced the overall year-round revenue boost.
Growing Trend Continues
Having gone through a record year in the world of any listed gaming operator within the online and mobile casino market, LeoVegas has made a huge step towards the realisation of its financial targets, according to Gustaf Hagman, company’s chief executive.
“LeoVegas continues to develop according to our vision: to create the ultimate gaming experience and be number one in mobile gaming.”, he said.
Another important step in the right direction is the announced sports service launch in Ireland planner for the first quarter of 2017. With LeoVegas launching its sportsbook operation in Denmark, it is expected that the breach into the Irish market will only be an additional revenue boost for the company.
LeoVegas prides itself on its strong mobile base and its reputation of the leading mobile casino has just been strengthened by the numbers which reveal that 67% of total deposits in 2016 had been made by mobile customers, which marks a 87% increase from the previous year to incredible $148 million.