LeoVegas reports €98.22m revenue for 2021’s last quarter

LeoVegas reports €98.22m revenue for 2021’s last quarter

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LeoVegas reports €98.22m revenue for 2021’s last quarter

Sweden-based online casino and wagering provider LeoVegas has announced €98.22mln revenue for the last quarter of 2021, which shows a marginal drop compared with €98.35mln of 2020. 

As the provider assures, the revenue had an increase of 26%, excluding the Netherlands and Germany. 

The chief executive at LeoVegas, Gustaf Hagman noted:

“We are happy with the results that we had in 2021 as we compensated the revenue loss which was the consequence of the regulation process across the Netherlands and Germany”.

The Nordic countries, which account for 50% of the brand’s revenue, reported a record-breaking increase of annual NGR by 36%. Meanwhile, the remaining parts of Europe, which account for 29% of NGR, reported a drop by 39% of YoY. The reason that lies behind the drop was the decline in the German market by 83%. 

As the betting services provider had ended its operation in the Netherlands in September, it has applied for a license in the country, as well as in the Ontario province in Canada. 

Online casinos generated 74% of GGR (75% in 2020), while live casinos and Sportsbook produced 14% and 12% (9% in 2020) respectively.

Gustaf also mentioned that during the past year, the company had made some important moves towards the completion of high achievements. 

“The acquisition of the Expekt was a huge accomplishment for us, by which we enlarged our focus on sports. Besides, we managed to operate in the US and have ambitions to expand more into the markets.”

Hagman concluded.

The adjusted EBITDA of Q4 accounted for €11.6 million (nearly the same in 2020) and net profit reached €4.2 million (-€1.9m in 2020). 

The revenue for the past month accounted for €35.5m which shows 9% increase. The increase amounts to 24% if excluded the Netherlands and Germany. 

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