It’s no secret, 2018 was one of the most challenging years for the online casino industry. And LeoVegas among several others experienced a few minor setbacks as they adjusted to the new guidelines set by the UKGC. Indeed, the operator postponed a few growth targets, but still managed to produce positive numbers when putting 2018 too bed! At the same time, they’re continuing their drive by staying ahead of the competition, as the numbers below show.
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Industry Gold Rush
Now that more business opportunities are opening up, there’s been a rush of excitement as the European market aims to expand. In other words, 2018 kicked off a whole new industry gold rush! And everyone is trying to adapt and stay ahead of the curve. With that said, LeoVegas still managed to close out Q4 ahead at 25% to €84.5 (£73.45) Million in revenue. In fact, they saw a 51% increase to €327.8 (£284.9) Million in revenue overall last year!
So by all means, these target setbacks are all just part of a bigger, more strategic plan! Not to mention, LeoVegas saw a jump in their cost of sales year-on-year from €39.2 (£34) Million in 2017 to €62.6 (£54.41) Million last year. And in the midst of all of this, they also acquired Rocket X in March. Plus, they purchased Royal Panda in November as well!
Stepping Back and Planning Ahead
According to LeoVegas CEO Gustaf Hagman, “After a challenging year, we now see improved momentum with a record-breaking December and a positive beginning to 2019. Entering into a new year, we’re going to focus fully on expansion, cost control, and building the worlds’ best casino”.
All and all, last month, revenue grew 16% to €28.7 (£24.94) Million with a 42% growth in depositing customers. So as Leovegas plans ahead, stay tuned, it’s going to be another ground-breaking year as they’re already showing! And surely building the world’s best casino online means more awards for the brands and more exposers. Which in return frequently translate into more players!