No two years are the same for casinos. If one year is super successful, then the other is challenging. That's what LeoVegas has been going through recently. The company has recently started to recover from its terrible phase, and has witnessed a 25 per cent revenue increase in the last quarter of 2018.
However, the company still continues to be in loss, with the organic growth at only 14 percent. According a reports, this suggests a failure to deliver appealing or engaging content that would bring in the money. LeoVegas has called the last few quarters as revenue from its two largest markets – Sweden and the UK – continued to go down with little to no improvement.
The most notable positive was the increase in EBITDA from €6.1m to €8.1m, bringing the EBITDA margin to 9.6 per cent. On the other hand, LeoVegas also reported an increase in the gaming revenue from regulated markets to 33 per cent, up from the 29 percent last year. The company now has a target of 50 per cent for 2019.
LeoVegas has been around for a long time, one of the first operators to get a license for both casino and sports betting in Sweden. On another positive note, the number of depositing customers at LeoVegas also went up by 29 per cent with the number of returning depositing customers was 181,747, an increase of 46 per cent across the same period.
LeoVegas has said that they are learning how to improve with the times, investing in new technology and better content that would engage players and keep them coming.