Sunday, September 25, 2022

LeoVegas Group reports 98 2m in Q4 2021 revenue

LeoVegas Group has reported revenue of €98.2m ($111.8m) for the fourth quarter of 2021, unchanged from the prior-year period.

The company did note, however, that excluding Germany and the Netherlands, revenue increased by 26%.

Net Gaming Revenue (NGR) from regulated markets and markets in which the group pays local gaming taxes was 74% of total NGR, while organic growth in local currencies was -4%.

EBITDA amounted to €11.6m, while the number of depositing customers was 456,063, a 1% decline from the prior-year period.

LeoVegas highlighted many events within the quarter, including the company being granted renewed gaming licences by the Danish Gambling Authority. The group also repurchased shares for €2.1m and distributed the third quarter dividend.

Events after the quarter meanwhile include the application of a gaming licence for Ontario. Furthermore, the establishment of its presence in New Jersey is proceeding as planned, with the recruitment of a local team already underway.

“During the quarter and the full-year 2021, we took several important steps as a company, which we expect to drive growth for many years to come,” said Gustaf Hagman, Group CEO.

“We demonstrate a high ability to adapt and continue to drive innovation even when faced with turbulent times. An increasing number of European countries are becoming regulated and some 74% of our revenue is currently regulated and/or taxed. The external market environment will remain erratic and turbulent in places, but we are well-positioned to manage this.

“Armed with all of our ongoing growth initiatives, I feel optimistic ahead of 2022.”

Plans to launch Sports Illustrated Resorts in the near-future have been announced, with the brand’s owner, Authentic Brands Group, collaborating with ADMI and Experiential Ventures Hospitality.   Sports Illustrated,…

LeoVegas CEO Gustaf Hagman has provided an update on the group’s future plans for 2022, as well as looking back on a busy year for the company, which recently…

Related Articles

- Advertisement -spot_img

Latest Articles