LeoVegas signals revenue rise in Q4

Finance News

Revenues in Q4 were up to €84.5m from €67.8m on the year, though they were given a boost by acquisitions and currency fluctuations.

Depositing customers at the group grew 29% to 327,156. That was outstripped by the number of returning depositing customers, which grew 46%, to 181,747.

The group increased its marketing spend to 37.9% of net gaming revenue (NGR), which grew from 35.6% a year ago. Advertising continues to be an effective means of growing the brand’s strength in Sweden.

Swedish revenues grew 18% on the year and its customer base also grew 28% in Sweden. The operator also made reference to performance in January 2019, with 16% growth in revenues.

“After a challenging 2018 we now see improved momentum with a record strong December and a positive start to 2019. Entering the new year we have full focus on expansion, cost control, increased profitability and to continue
building the world’s best mobile casino.” – Gustaf Hagman, Group CEO.