Staff Writer
The Swedish online casino company LeoVegas made yet another profitable year with its revenues soaring up to several million euros. The fourth quarter of the year 2016 saw great profits and propelled the group to yet another record year. According to sources, the company expects 2017 to deliver just the same results.
The company proudly updated its shareholders on the progress they made in the Q4 of 2016, full figures of the year and their progress so far in 2017.
“The net gaming revenue in the January this year touched EUR 14.1 m. We are very elated at how the KPI s have unfolded in the first quarter of the New Year. This has boosted our confidence and vigor to achieve our 2018 financial goals.” Said a spokesperson in a press release soon after its financial report was released.
“We are also pleased that LeoVegas continues to grow like we envisioned it to. We strive to create the best gaming experience for our users, and hope to be the Numero Uno in mobile gaming. With a cash position of close to EUR 55m, we believe that the company can capitalize on many great opportunities in the gaming industry,” He also added.
The company will release its fully detailed first quarter financial report on May 3.
Live casino games is one of the quickest growing segments of online gaming, where players are allowed to interact with a croupier and watch the action unfold real time through a web cam. HD video and high end audio add to the ambience and larger than life experience for online players.
Most players like this new form of online gaming method over the usual computer generated simulations. Interacting with real people whom they can hear, see and talk to, builds confidence in the player and also offers greater enjoyment.
LeoVegas has understood this trend and has capitalized on the increasing popularity of Live Casino games via Authentic Gaming. Authentic Gaming is an independent subset within the LeoVegas Group. It launched its Live Casino only last fall through a number of online gaming operators. It also expanded the distribution of its products by adding more brands within the Kindred Group.Authentic Gaming has also been in the news last month for offering Live Roulette from the exhibition floor of iCE. The company treats its online customers to premium top notch entertainment from land based casinos too. Players can enjoy concerts and shows within a Live Casino game.
“Land based casino players have their share of fun and entertainment when they visit quality casino resorts. We strive to provide online players with the same experience. We also will facilitate our b2b clients to book their own choice of acts and allow them to broadcast them exclusively on their own brands,” a company spokesperson said.
Gustaf Hagman, the CEO LeoVegas proudly said that “We strive to give LeoVegas the exposure it deserves. The company’s growth is being driven not just by newer product categories and geographical expansion, but also by several investments in similar innovative companies. The team at Authentic Gaming has done a stupendous job, and we are excited to follow their progress.”
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