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LEOVEGAS HAILS STRONG FIRST QUARTER
Eagerly anticipates imminent launch of LeoVegas Sport.
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.
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GAN Partners with Station Casinos -
B2B online gaming company GAN (formerly Game Account Network) has revealed Station Casinos as its previously unidentified partner in an announcement made August 2016
Oceanís Call Slot Launches -
Online gambling games developer Habanero has embarked on a journey across the high seas to bring players its latest HTML5 high resolution slot title, Oceanís Call.
Big Names Playing WCOOP -
The big names came out to play in the closing stages of the World Championship of Online Poker this week as major prizes were handed out in a number of exciting and entertaining competitions.
Sirplay to Open Argentina Branch -
#SirPlay expects the new office to be fully operational by early next year, extending its service to Grupo Slots, which holds a license to operate the provincial San Luis Lottery, and other potential LatAm clients.
DFS Changes for Ohio -
#dfs Coley says that at present DFS is an example of the "pools for profit" concept, the rules for which the state Attorney General has opined are unclear in relation to DFS.
New Jersey Teams Up With Kahnawake Gaming Commission -
The New Jersey Division of Gaming Enforcement and the Kahnawake Gaming Commission have agreed to collaborate in preventing unlicensed online operators from accepting bets from New Jersey and other U.S. states through the Continent 8 data centre situated on tribal land, according to reports Tuesday from the Associated Press news agency.
Petition to Ban Online Gaming in Singapore -
Singapore Pools and Singapore Turf Clubís application to operate online betting has triggered the origination of a petition that calls on the Government to deny authorization and stop legalization of online gambling.
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