LeoVegas hails strong first quarter

Gambling operator LeoVegas has reported a significant hike in revenue within its first quarter 2016 report.

Key performance highlights for the three month period ending March 31, 2016 were:

– Revenue growth of 85.9 percent to Euro 29.5 million (Q1/2015: Euro 15.9), but negatively affected by currency effects totalling Euro 500,000.

– EBITDA amounted to Euro -1.3 million (Q1/2015: Euro 0.2 million), corresponding to an EBITDA margin of -4.4 percent (Q1/2015: 1.0 percent). Earnings were impacted by costs of Euro 5.3 million in connection with the company’s Initial Public Offering.

– Operating profit (EBIT) was Euro -1.6 million.

– Earnings per share were Euro -0.02 (-0.00).

– Customer deposits increased 73 percent to Euro 80.5 million (Q1/2015: Euro 46.5 million), of which mobile accounted for 61 percent.

– Depositing customers grew by 87 percent to 121,615 (Q1/2015: 65,122).

“With strong growth, good profitability and our successful stock market introduction behind us, we are looking forward to an exciting and eventful summer,” said Gustaf Hagman, group chief executive officer and co-founder of LeoVegas AB.

LeoVegas anticipates the imminent launch of its Kambi-powered sportsbook LeoVegas Sport at the end of this week, perfectly timed for the start of the EUFA Euro 2016 football competition.

LeoVegas Sport will be accessible within the Canada, Finland, Netherlands, Norway, Sweden and UK markets.