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Record quarter for LeoVegas but higher marketing costs weigh on profit

2nd May 2018 9:08 am GMT

Stockholm-listed gaming operator LeoVegas has reported a 76 per cent increase in revenue to a record €77.4m for the first quarter of 2018.

This comprised organic revenue growth of 40 per cent and the first contributions from newly acquired Royal Panda and Rocket X, which accounted for nearly 20 per cent of Q1 revenue.

Excluding markets that were exited during 2017 (Australia, Czech Republic and Slovakia) and acquisitions, revenue growth would have amounted to 61 per cent year-on-year.

“We [...]

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